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Jinkra International Finance Ltd: 35% Income Tax Payment + Punishment for Not Paying

WikiFX | 2022-09-14 12:00

Abstract：Generally, forex brokers do not have any relationship with your local tax bureau. They are just private entities that are running a business operation on their own. Therefore, if a forex broker were to ask for any tax payments from you on behalf of the tax bureau, do not make such payments by any means. Unfortunately, that is a sign that one of your feet is already caught in its trap. That is a scammer, not a legitimate forex broker.

Todays forex broker in question is Jinkra International Finance Ltd which is registered in the United Kingdom.

This broker has a low WikiFX score as we discovered that both of its licenses are not valid. We would not recommend this broker to anyone.

Kindly select a forex broker that has a WikiFX score of at least 7.0 and above, alongside valid regulatory status and license(s)

WikiFX received this Exposure piece from a client of Jinkra named Fedor.

Jinkra insisted Fedor pay an income tax of approximately 5.4K USD. However, Fedor explained that he had never made a single cent of profit from trading with Jinkra, thus there should not be any tax charged on losses.

Fedor backed his stance with a screenshot showcasing a nett loss of 1.7K USD on his Jinkra account.

As Fedor refused to pay the quote-on-quote income tax, Jinkra fined him an additional 3K USD and threatened to freeze his account under the pretense of him conducting a malicious tax evasion act.

Eventually, even though Fedor still had many unanswered questions, Jinkra proceeded to freeze his account and funds regardless.

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Related broker

Not Regulated

JINKRA

Company name：JINKRA INTERNATIONAL FINANCE LIMITED

Score

1.88

Website：https://jinkraltd.com/

2-5 years | Questionable Regulatory License | Suspicious Operational Region | High Potential Risk

Score

1.88

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