To take a payment using the Tide Card Reader or Tide Card Reader Plus, you don’t need to do anything in the Tide app, or even have it handy.
Instead, select: ‘Payment’ > enter the price > ‘Continue’, directly on the terminal.Common Reporting Standard (CRS).
Your customer can tap or insert their card, and the payment will land in your account within 3 business days.
If you prefer, you can use the Tide app to take a payment with your card reader, too.
In the app, tap: ‘Get paid’ > ‘Take a payment’ > enter the price > ‘Take a payment’.
After your customer taps or inserts their card in the terminal, the payment will land in your account within 3 business days.
A Passive NFE gets more than 50% of its earnings as passive income – from interest, rents, dividends, and royalties.
There are different reporting requirements under FATCA and CRS, depending on whether a company is an Active or a Passive NFE. Understanding the difference between the two company types is crucial for international tax compliance.
