PayPal Canada says it has more than 6.4 million active users, although that includes personal accounts which are not affected by the CRA move. “The information obtained through the unnamed persons requirement will allow the CRA to ensure that these individuals and corporations comply with their tax obligations under the Income Tax Act.” “Specifically, the CRA is seeking PayPal’s list of Canadian clients who have a commercial account, including the total value of their transactions (purchases and sales) from 2014 to the date of the requirement,” he said. “Affected account holders have been notified.”ĬRA spokesman Patrick Samson confirmed that the agency received Federal Court of Canada authorization to request the information, part of a crackdown on Canada’s underground economy. “We are required to disclose information about business account holders who have received or sent a payment,” it says on its website. 1, 2014, and last Friday to the Canada Revenue Agency. The online payments company said Wednesday it has been given 45 days to hand over information identifying its account holders and the amount and number of payments they paid or received between Jan. The records of Canadians who use PayPal business accounts to make and receive payments will soon be in the hands of the federal government’s tax-collecting agency.
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