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Originally Posted by mental4astro
 I am just too naive. |
Hi Alex,
It seems these scams are small potatoes compared to what PayPal manages
to pull off itself in Australia.
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Originally Posted by Michael West, Sydney Morning Herald, 1 July 2015, Article : Australia is getting played for a mug with tax dodging
PayPal is no pal of the Australian Tax Office. Like its sister company eBay, the electronic payments provider seems hell bent on making as little in the way of profit in this country as it possibly can.
After all, if you make a profit, you have to pay tax on it. So it is that an investigation by Fairfax Media and University of NSW accounting academic Jeff Knapp found PayPal rakes out 86 per cent of its revenue to an associate in Singapore, and countervailing its duties under the Corporations law, fails to disclose sufficient details of the arrangements.
Over the past nine years, the electronic payments firm has paid more than $1 billion of its $1.2 billion in revenues to its parent and associates in Singapore leaving very little to be taxed in Australia. PayPal claims that these payments, the bulk of which are made to PayPal Private Limited, its immediate parent company, are for "services provided in accordance with Service Provider Agreements for the processing of, and supporting the online payments business".
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PayPal was approached for comment but nobody was available to answer questions by the time this story went into production. Like its tax-dodging peers, here is yet another multinational without even the integrity to answer a question about its own statutory documents.
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Article here :
http://www.smh.com.au/business/comme...30-gi1qpt.html