Wise Europe operates within the tax jurisdiction of Belgium, where cashback is liable for 30% withholding tax.
This tax is paid by Wise to Belgian tax authorities but you may be able to claim some, or all, of the tax back depending on your tax status and country of residence.
You may need to report this income on your personal income tax return. Consider obtaining independent advice or consulting with the tax authority of your country of tax residence to understand if this is the case.
Can I get a statement for reporting tax?
Yes, if you've received cashback then you can get a tax statement (credit advice) on web only.
From your Wise account on web:
Select your profile in the top-right corner
Select Statements and reports
Select Balance cashback tax statement
All tax statements are generated in EUR, so cashback received in USD and GBP will be converted to EUR on your statement.
Can I get a tax reduction or refund?
Currently, we're unable to apply withholding tax reductions as we don’t collect tax residency information.
If you’re eligible for a lower withholding tax rate under the Belgium double tax treaty with your country of residence, apply to the Belgian tax authority using the official form for refund of Belgian WHT (Form 276 INT).
The process to obtain a refund may differ for each country so seek advice from a tax adviser if you’re unsure.
Can I get a tax statement in another currency, for example USD or GBP?
No, the amount on the statement will be shown in EUR, though you can receive cashback for USD, GBP and EUR. This is because the tax is withheld under Belgian Tax Law, and we can’t provide separate tax statements for each currency.
But you can download a regular balance statement if you'd like to see the cashback in other currencies.
Learn how to download statements here
Can I get a tax statement in a different language?
Yes, we offer tax statements in Chinese (simplified and traditional), English, French, German, Hungarian, Indonesian, Italian, Japanese, Polish, Portuguese, Romanian, Russian, Spanish, Thai and Turkish.