Questions and answers about billing on Betsfy

add remove How does the Betsfy subscription system work?

The Betsfy project belongs to BETMEDIA ADVANCE, S.L.U., a company resident in the Canary Islands, thus Spanish jurisdiction is applicable and, regarding indirect taxation, the Canarian legislation is applicable.

From the moment you enter on Betsfy you are already a direct collaborator, so you must comply with all the legal requirements that the jurisdiction requires in this regard.

Our company is obliged to issue an invoice to the subscriber for each subscription you receive, within the legal term established by the Consumer Act. Always in accordance with current billing regulations and applying the pertinent taxes in force at the moment of the transaction.

Failure to fulfil these obligations may result in penalties and surcharges. That is why on Betsfy we manage this for you.

It is important that you know that, if until now you were doing this on your own, or have thought about doing it, you must first know all the fiscal and legal implications that you could have. Since the Treasury has and can collect information, not only from bank accounts, but also from wallets, such as PayPal.

Therefore, you also have the obligation to issue invoices, with the applicable taxes, and to declare it to the Treasury.

It is important to remember that the Treasury has 4 years to request information and to verify that all income has been correctly declared.

Failure to comply with these obligations may result in the payment of the unpaid taxes, increased by a penalty of up to 50 %.

On Betsfy we have a specialised team so that you only worry about guessing tips correctly.

add remove How does the Betsfy affiliation system work?

On Betsfy you can earn money by benefiting from the best deals with bookmakers. In the Bank section you have deals with different bookmakers in which, for each user registered from the link we offer you, and for every user that meets the conditions we specify in the description, you will earn the specified amounts in that section.

add remove How are your subscriptions winnings calculated?

In your Bank you will see updated every time the winnings that you have generated with the subscriptions. These winnings are the result of the subscriptions you generate in your channel (once discounted the Betsfy commission and the corresponding payment gateways costs, external to our platform).

Remember that according to the regulations we must apply the current taxes to these commissions, so the amount of your Bank will always be tax included.

add remove Table of commissions for Betsfy subscriptions

Level 1

(0 – € 1,500/month)

  • Tipster
  • Betsfy
  • Payment methods

Level 2

(€ 1,500/month – € 5,000/month)

  • Tipster
  • Betsfy
  • Payment methods

Level 3

(more than € 5,000/month)

  • Tipster
  • Betsfy
  • Payment methods

add remove How are your affiliation winnings calculated?

In your Bank you will be able to see every time, updated in a maximum of 48 hours, the winnings that you have generated by affiliation. These winnings are the result of the registrations in each bookmaker. You can check them with the information we will update in the Bank section.

Remember that according to the regulations we must apply the taxes in force to these commissions, so that the amount of your Bank will always be tax included.

add remove How do I manage my winnings?

To be able to collect your winnings (both by subscriptions and by affiliation) made through our platform, the first thing we should know is in which billing method you fit.

Below, we explain the billing possibilities on Betsfy.

add remove Do you have a company resident in the Peninsula, Ceuta, Melilla or the Balearic Islands?

If so, you have to know that the forecast and affiliation advisory services that are provided through our platform are operations without VAT by location rules.

Both in the sales prices of the subscriptions and in the balances reflected in your Bank (subscriptions and affiliation), you will always see tax-included amounts.

It is very important that the invoice concept is accurate and specific.We can not accept invoices with abstract descriptions such as: ”services provision”, ”registrations”, ”commissions”, etc. The invoice concept must be clear and must really reflect what is being invoiced. For example: ”Commissions for subscribing to the Betsfy project of the month…”, ”Commission for registration in the … bookmaker’s affiliation of the month…”.

Remember that the minimum to be able to invoice and withdraw money is 100.00 euros.

Here is an example of billing through a company:

You have generated 100 euros in your Bank selling subscriptions, so the invoice that you should issue us would be the following:

Taxable income = € 100.00
VAT = OPERATION NOT SUBJECT TO VAT
Invoice total = € 100.00

Remember that, although they are operations not subject to VAT, you will have to declare these invoices in the VAT reverse charge that your company must submit to the Treasury, normally every three months.

As a contractor collaborator with our company, we will ask once a year, during the contractual relationship, a certificate that your company is up to date with all tax obligations with the Treasury.

add remove Do you have a company resident in the Canary Islands?

If the company that provides forecast and affiliation advisory services through our platform is a company with tax residence in the Canary Islands, you have to know that these are transactions subject to and not exempt from the I.G.I.C. (General Tax on the Canarian VAT), and that the current tax rate for the 2019 financial year is 6.50 %.

Here is an example of billing through a company:

You have generated 100 euros in your Bank selling subscriptions, so the invoice that you should issue us would be the following:

Taxable income = € 93.90
I.G.I.C. 6.5% = € 6.10
Invoice total = € 100.00

Tip: it is not complicated!

To find the taxable income: divide the amount receivable by 1.065, that is, in the example: 100/1.065. This way you will obtain the taxable income: 93.90 euros.

Remember that the IGIC of your invoice will have to be declared in the IGIC reverse charge that your company has to submit to the Treasury, normally every three months.

As a contractor collaborator with our company, we will ask once a year, during the contractual relationship, a certificate that your company is up to date with all tax obligations with the Treasury.

add remove Are you self-employed resident in the Peninsula, Ceuta, Melilla or the Balearic Islands?

In the event that you are self-employed resident in the Peninsula, Ceuta, Melilla or the Balearic Islands, you must issue us an invoice with the corresponding taxes applicable at the time of billing (Personal Income Tax).

You have to know that the forecast and affiliation advisory services provided through our platform are operations not subject to VAT by location rules.

It is important to remember that the amount in the Bank is always gross, both in subscriptions and affiliation, so to be net you will have to apply the corresponding tax withholding (7 % or 15 % of Personal Income Tax).

In the case of applying the 7 % withholding, a signed application will be requested to apply the withholding.

In the same way, our company is obliged to submit to the Treasury the corresponding Personal Income Tax of your invoice.

It is very important that the invoice concept is accurate and specific. We can not accept invoices with abstract descriptions such as: ”services provision”, ”registrations”, ”commissions”, etc. The invoice concept must be clear and must really reflect what is being invoiced. For example: ”Commissions for subscribing to the Betsfy project of the month…”, ”Commission for registration in the … bookmaker’s affiliation of the month…”.

Remember that the minimum to be able to invoice and withdraw money is 100.00 euros.

To make it easier, we give you a billing example:

You have generated 100 euros in your bank selling subscriptions, so the invoice that you should issue us would be the following:

EXAMPLE A
if your applicable Personal Income Tax (PIT) is 15%

Taxable income = € 100.00
VAT = OPERATION NOT SUBJECT TO VAT
Subtotal: € 100.00
– PIT 15% = € 15.00
Invoice total = € 85.00

EXAMPLE B
if your applicable Personal Income Tax (PIT) is 7%(1)

Taxable income = € 100.00
VAT = OPERATION NOT SUBJECT TO VAT
Subtotal: € 100.00
– PIT 7% = € 7.00
Invoice total = € 93.00

(1) The withholding rate of 7 % will only be applicable for those persons who register for the first time as self-employed and who, for the first time, do professional and commercial business and have not exercised it before in their name. The 7 % will be only applied the year of registration and the two following years; from the third year it will be 15 %.

The Personal Income Tax that we deduct from your invoice will be deposited in the Treasury for you. That tax can be deducted in your annual Personal Income Tax return, which you will submit the following year.

add remove Are you self-employed resident in the Canary Islands?

If you are self-employed with tax residence in the Canary Islands, you have to know that the forecast and affiliation advisory services that are provided through our platform have the treatment of transactions subject and not exempt from I.G.I.C. (General Tax on the Canarian VAT) and that the current tax rate for the 2019 financial year is 6.50 %.

Therefore, you must issue us an invoice with the corresponding taxes applicable at the time of billing (IGIC and Personal Income Tax).

It is important to remember that the amount in the Bank is always IGIC included, both in subscriptions and affiliation, so to be net you will have to apply the corresponding tax withholding (7 % or 15 % of Personal Income Tax).

In the case of applying the 7 % withholding, a signed application will be requested to apply the withholding.

In the same way, our company is obliged to submit to the Treasury the corresponding Personal Income Tax of the invoice.

It is very important that the invoice concept is accurate and specific. We can not accept invoices with abstract descriptions such as: ”services provision”, ”registrations”, ”commissions”, etc. The invoice concept must be clear and must really reflect what is being invoiced. For example: ”Commissions for subscribing to the Betsfy project of the month…”, ”Commission for registration in the … bookmaker’s affiliation of the month…”.

Remember that the minimum to be able to invoice and withdraw money is 100.00 euros.

To make it easier, we give you a billing example:

You have generated 100 euros in your bank selling subscriptions, so the invoice that you should issue us would be the following:

EXAMPLE A
if your applicable Personal Income Tax (PIT) is 15%

Taxable income = € 93.90
+ IGIC 6.50 % = € 6.10
Subtotal: € 100.00
– PIT 15% = € 14.09
Invoice total = € 85.91

EXAMPLE B
if your applicable Personal Income Tax (PIT) is 7%(1)

Taxable income = € 93.90
+ IGIC 6.50 % = € 6.10
Subtotal: € 100.00
– PIT 7% = € 6.57
Invoice total = € 93.43

(1) The withholding rate of 7 % will only be applicable for those persons who register for the first time as self-employed and who, for the first time, do professional and commercial business and have not exercised it before in their name. The 7 % will be only applied the year of registration and the following two years; from the third year it will be 15 %.

The Personal Income Tax that we deduct from your invoice will be deposited in the Treasury for you. That tax can be deducted in your annual Personal Income Tax return, which you will submit the following year.

The IGIC that you pass on to us in the invoices will have to be settled in your IGIC quarterly tax return.

As a contractor collaborator with our company, we will ask once a year, during the contractual relationship, a certificate that your company is up to date with all tax obligations with the Treasury.

add remove Are you a non-resident natural person in Spain or do you have a company resident outside of Spain?

If you are non-resident or you have a company resident outside of Spain, you must issue us the corresponding invoice, in accordance with current regulations and, in this case, taxes for subscriptions and affiliation registrations have no effects with the reversed charge mechanism (neither VAT nor IGIC have effects).

To avoid having to apply a tax on the income tax of non-residents (IRNR), which is currently 19 % for taxpayers with residence in the European Union, and 24 % for the rest of foreign countries, it is very important that you credit and provide us, along with the invoice, a certificate of tax residence issued by the tax authorities of your country or some proof that can prove that you or your company is taxed in the country of residence for a tax similar to the Personal Income Tax or Corporation Tax. With this you can prove your tax residence or your company’s, and we can avoid a liability derivation for not applying the IRNR.

It is very important that the invoice concept is accurate and specific. We can not accept invoices with abstract descriptions such as: ”services provision”, ”registrations”, ”commissions”, etc. The invoice concept must be clear and must really reflect what is being invoiced. For example: ”Commissions for subscribing to the Betsfy project of the month…”, ”Commission for registration in the … bookmaker’s affiliation of the month…”.

Remember that the minimum to be able to invoice and withdraw money is 100.00 euros.

You must send the invoice to [email protected].

Here is an example of billing for a company resident outside of Spain:

The non-resident company in Spain has generated 100 euros in banking by selling subscriptions, so the invoice that should be issued to us would be the following:

Providing Residence Certificate

Taxable income = € 100.00
VAT not subject = € 0.00
Invoice total = € 100.00

Not providing Residence Certificate

Taxable income = € 100.00
VAT not subject = € 0.00
Invoice total = € 100.00
– IRNR 24 % = € 24.00
Total receivable = € 76.00

add remove How do I receive my winnings?

Whatever your billing method may be, once we receive your invoice and it is validated by our affiliation department, we will discuss the different payment methods that we can offer you:

  • Bank transfer
  • PayPal

It is important that you reflect in your invoice the payment method for which you want us to pay you.

add remove How long will it take to collect my invoice?

In the case of payments of invoices accrued by subscriptions, the payment period is every fifteen days. That is, our company has as days of payment the days 15th and 30th/31st of every month.

In the case of invoices accrued by affiliations derived from registrations in bookmakers, the payment will be made on the 15th or 30th/31st of the month that follows the period in which the registrations are generated, provided that the invoices are received and validated by our company on time.

It is important that you keep in mind that these days may vary depending on whether is working or non-working day.

For example, if the 15th day is Sunday, the payments will not be issued on the 15th Sunday, but the next subsequent working day, that is, the payment would be made on Monday, the 16th.

It is also very important that you know that, depending on the chosen payment method, you may not receive the money the same day we issue the payment. For instance, if the payment is by bank transfer it is possible that, although we issue the payment on the 15th day, it will not be reflected until the 16th in your bank. This is due to the established bank transfer systems and that is totally external to Betsfy.

It is also very important that you review the particular conditions that you have agreed with your bank, PayPal or another payment method accepted by Betsfy, since you may be charged commissions for the money you receive. These commissions are totally unrelated to Betsfy.

add remove I have winnings for subscriptions and affiliation. Can I invoice everything on the same invoice?

Yes, as long as you detail correctly and clearly on the invoice what is for the subscription part and what for the affiliation part.

add remove Do I have to issue an invoice every month?

No, your winnings accumulate in your bank until you request us to withdraw them by invoice.

add remove What happens if my winnings do not exceed 100 euros?

Your winnings will accumulate monthly in your bank.

You can withdraw them as long as the total amount of your bank (subscriptions and affiliation) exceeds 100 euros.

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