To
receive our free monthly network newsletter enter your
email address below:
ADVERTISING
ADVERTISE
ON THIS SITE!
With over 50,000 qualified readers every month our web-sites
offer a number of cost effective, targeted advertising, sponsorship
and marketing opportunities:
Display advertising - from 'skyscrapers'
to 'buttons'
Content/article submission and sponsorship
Opt-in email marketing
On-line Services Directory listings
Click here to learn more or contact
Peter Wiggins on +44 (0)1424 813852 or email him at peter@lowtax.net.
New On The Lowtax Network Today
This feed is published daily with selected new or updated
content from across the Lowtax Network. For a list of Lowtax Network
sites, many of which feature daily news, see
below.
Providing essential tax news and information
for globally mobile artists, contractors, entrepreneurs, professionals,
small businesses, sportspersons and entertainers.
Lowtax Portal:
'Low-tax' business and investment in the top 50 jurisdictions covered in
exceptional detail.
Tax News: Global
tax news, continuously updated through the day.
Investors Offshore:
The independent offshore and alternative investment guide for expatriates
and the globally aware investor.
Law & Tax
News: Daily news and background data on tax and legal developments
for international business.
Offshore-e-com:
A topical guide to offshore e-commerce focused on tax and regulation.
Lowtax Library:
One of the web's largest and most authoritative business and investment
information sources.
US Tax Network:
The resource for free online US taxation information, covering: corporate
tax, individual tax, international tax, expatriates, sales and e-commerce
tax, investment tax.
NEW! Personal
Business Tax Guide: Providing essential tax news and information
on business for contractors, entrepreneurs, professionals, small businesses,
artists, sportspersons and entertainers.
eBay Canada Forced To Disclose More Sellers' Records To Tax Man,
by Mike Godfrey, Tax-News.com, Washington
Friday, October 02, 2009
The Canada Revenue Agency (CRA) has broadened its clampdown on the tax affairs of
online sellers, issuing eBay Canada with a court-authorized requirement compelling
the company to release the account information and sales data of Canadian resident
eBay members who have made significant transactions via the site.
According to the requirement, eBay must divulge the full name, user id, mailing
address, billing address, telephone number, fax number, email address, and the
selling prices of items sold. The court order applies to eBay users fulfilling the following criteria:
Users with sales of more than CAD20,000 and at least 24 sales transactions
in any of the calendar years 2006, 2007 or 2008, (irrespective of membership
in eBay’s PowerSeller program); or,
Sales of more than CAD100,000 in any of the calendar years 2006, 2007 or
2008, regardless of the number of sales transactions.
eBay is only required to release sales information for the year(s) in which
a seller met the above sales thresholds.
This is the second court order of its kind that eBay has received from the
Canada Revenue Agency. EBay Canada was forced to provide the agency with the names and account information of eBay sellers, together with
their merchandise sales records, as a result of a previous Federal Court of Canada decision.
Despite an appeal in November 2008 (on a case that had been ongoing for two
years), ebay was required to divulge information on high-volume traders (PowerSellers)
during the period 2005-2006.
The CRA will be able to match the information provided by eBay to the records
it already holds, to detect whether eBay traders have filed all the required
returns and correctly declared their total business income. If the CRA determines
that an individual or a business did not comply with the tax laws, it was confirmed
that the CRA will take any necessary action, including, if necessary, in-depth
audits.
“We recognize that this matter is of concern to our members. While eBay
strenuously objects to this violation of our members’ privacy, we are
obliged to comply with the court-ordered requests. eBay is alerting all members
who are affected by the court order prior to disclosing their account information
to the Canada Revenue Agency,” eBay Canada said in a statement.
“We remind all eBay members that they are responsible for ensuring that
they are in compliance with all laws and regulations relating to their activities
online.”
The Lowtax Library
hosts the web's best-known US and international tax news service
costing just $20 per month. Alongside topical, daily news, you can receive
weekly newswires on
a wide range of subjects.
Our 16 up-to-date intelligence
reports cover international tax-planning in depth, including
banking secrecy, offshore funds, e-commerce and offshore gaming.
IMPORTANT NOTICE:
THE LOWTAX NETWORK has taken reasonable care in sourcing and presenting
the information contained on this site, but accepts no responsibility
for any financial or other loss or damage that may result from its use.
In particular, users of the site are advised to take appropriate professional
advice before committing themselves to involvement in offshore jurisdictions,
offshore trusts or offshore investments. All materials on this site copyright
The Lowtax Network 1999 - 2009. Contact
us for further information.
OFFSHORE-E-COM.COM
