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CRA looking to crack down on Paypal business accounts

CRA looking to crack down on Paypal business accounts

Court orders PayPal to give business account details to CRA

Source: CBC News

The Federal Court of Canada has ordered U.S.-based PayPal to hand over details about its business account customers to Canadian tax authorities.

The court order, obtained by the Canada Revenue Agency, forces the U.S.-based payment processing firm to release information about Canadians with PayPal business accounts who processed transactions between the start of 2014 and last Friday.

PayPal must hand over the names, dates of birth, contact information and — in some cases — social insurance numbers of any business account holders in Canada. The court order was issued last Friday, and the company has until Dec. 25 to comply. PayPal says it has already contacted affected customers about the order, but has not yet handed over the data.

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