ARTICLE · 21 NOVEMBER 2017

CRA Requests Information From PayPal, BMO, Royal Bank, And TD Canada Trust

KPK Law LLP

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As part of its push to uncover unreported income, the Canada Revenue Agency ("CRA") has successfully obtained a requirement for information from the Federal Court of Canada to require PayPal...

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As part of its push to uncover unreported income, the Canada Revenue Agency ("CRA") has successfully obtained a requirement for information from the Federal Court of Canada to require PayPal to disclose account information from 2014 to November 10, 2017. CRA's requirement for information is focused on Canadians with PayPal business accounts. PayPal has until the end of December 2017 to comply with this request.

This is not the first time that CRA has requested information regarding PayPal accounts. In 2007, CRA successfully requested information from eBay Canada Ltd. and eBay CS Vancouver Inc. (which, at the time, included PayPal as part of its corporate family) to identify "PowerSellers".

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