P2P News CW 21: Tax-solution for Debitum investors

CW 21 – Top #3 P2P News: Tax-solution for Debitum investors, Viainvest raises interest rates to 12% and Bondora presents very good 2021 results

Debitum Network shows investors step-by-step how to avoid withholding taxes for them. It is a great guide and it will keep the compound-effect rolling for those investors, who update their profile and upload the tax residency certificate.

Additionally Bondora presented good results from 2021 and shows a very straight way to hit the 1 million investors on the platform.

Last but not least: viainvest raises their interest rates again!

#1 Tax-Solution for Debitum investors

Becoming a regulated P2P platform turned out to be a “tax-problem” for investors. Debitum Network now found a way to reduce the taxes to 0% for at least five years. Therefore the platform needs a TAX  RESIDENCY CERTIFICATE, which is handed to investors from the local tax administration.

On their website Debitum published a guide for each country they have investors from:

Austria, Belgium, Bulgaria, Czech Republic,  Estonia, France, Germany, Hong Kong, Italy Lithuania, Luxemburg, Netherlands, Poland, Portugal, Romania, Spain, United Kingdom and United Arab Emirates.

For each country the local tax administration is linked OR investors find a link directly to the document, they need to fill out and upload on the P2P platform. Until then taxes will be reduced from they interest repayments.

Debitum Network tax payments

Debitum Network tax payments, screenshot from my Debitum account

On their website you will find first of all the blogpost of “How to allow Debitum to not withhold taxes” and second “Where can I get a tax residency certificate“. After receiving it from your local tax administration you need to upload it in your Debitum account. They will check it and turn down withholding taxes for you after they successfully checked it.

#2 Viainvest raises interest rate to 12% again

After we have seen several decreases of interest rates over the last months, especially by the end of 2021, those rates are rising again. Now viainvest is increasing the interest rate again up to 12%.

Additionally they are offering a cashback campaign, which will come 1% on top of that 12%. Great news for investors!

Why does this currently happens? Is there a specific reason? Probably yes – which is legit for all platforms.

After the covid crises P2P lending fought back to it current volume, which equals the pre-pandemic level. During this time platforms and marketplaces improves their processes, including the due dilligence of loans and loan originators. Based on those improvements the P2P industry is having very good times.

You will find increases interest rates anywhere at the moment. This is a huge chance for investors to receive higher rewards for the same risk.

Viainvest raises interest rates to 12+1% including cashback campaign

Viainvest raises interest rates to 12+1% including cashback campaign, screenshot from my viainvest account

What investors should do?

The updated interest rate will apply to consumer loans published starting today – June 1st.
To qualify for the Cashback campaign, simply update your auto-invest portfolio to get newly listed loans with a 12% interest rate and make sure you have your identity verification up to date with iDenfy and funds available on your account.

Simple as that – just go to viainvest and log into your account to update your settings.

#3 Bondora 2021 review with great results

By the end of May Bondora held their typical review-session. For those of you not being able to watch it, you will find the recorded stream on their Youtube channel.

Bondora managed to earn 6.7MEUR in 2021 – just to remind you: Another year of the pandemic with quite a lot of challenges. Furthermore CEO Pärtel Tomberg answered a lot of questions from the viewers and investors.

Bondora results 2021: Key figures

Bondora results 2021: Key figures, screenshot from their blog

And there is a very interesting outlook of this stream: Bondora wants to grow massively. They plan to grow their current 185.000 investors to at least 1 million investors as the huge goal. With Bondora Go & Grow Unlimited they are offering an alternative to Go & Grow which is restricted to 400EUR at the moment.

Furthermore Bondora is planning to expand to several more EU-countries over the next months and years, also Pärtel shared to insights about which countries Bondora is thinking about.

Nevertheless: Those numbers are massive. Investors should have an eye on this expansion and check over the time how Bondora is doing. I am pretty impressed and sure, that this way is the right and stay onboard with Bondora.

If you want to know more about Bondora Go & Grow, check my review here!

Up to you – What is relevant for you?

Also the world is talking a lot about inflation, dropping stock and crypto exchanges it seems like P2P does not give a dime on it. The industry is expanding and having a really good time. Investors are likely to profit from that trend with bigger interest rates than ever.

Of course bigger interest rates are always sign to watch out. But as the industry tries to keep the money invested – and not shifted over to stocks, cryptos or whatever – the interest rates are raising anywhere. So it is good spot to stay an investor here.

What was your most interesting fact this week? Any news with a huge impact on your P2P portfolio?

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