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Paypal and exchange of information

Thanks for this great share. It has been known since a long time they exchange data, but what let you think this is different for companies and business PayPal accounts?

The latter will exchange this information with the U.S. Internal Revenue Service if FACTA Law applies and/or, if CRS Law applies, with the competent authority or authorities of your respective country or countries of tax residence that are participating jurisdictions under CRS Law.
 
Thanks for this great share. It has been known since a long time they exchange data, but what let you think this is different for companies and business PayPal accounts?


I have asked Paypal. They told me the CRS reporting procedure was different for People and Companies.
Business account: Reported to where the company resides
Personal account: Reported where the paypal account owner resides.
 
I am sorry I have the ideas in my mind but now on the paper. Paypal considered itself like a bank. It means they will provide all the information that banks usually give to government in the context of the automated data exchange of financial information from the OECD. In other words, in few years, if you have a personal PayPal account, wherever you are on earth, your government will know the money you earn from PayPal. In other words, entrepreneurs will not be able to start with a personal paypal account. They will have to start with a business paypal account not to have problems.
 

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