Dublin-based online payment group PayPal
– a subsidiary of web auction giant
eBay – is moved a significant
portion of its business to Singapore for accounting and taxation purposes,
according to reports.
The decision to relocate the majority of the company’s assets overseas was
part of a ‘’tax realignment’’ strategy, a spokesperson for eBay told the Irish
It means that 85% of PayPal’s annual revenues will now move overseas.
The company said it continue to operate out of Dublin. EBay and PayPal employ
more than 1,000 people in Ireland in total.
MTD represents 'the single most significant change to the UK’s system of taxation in recent times', says Knill James partner Nick Rawson. So, how prepared are SMEs for digital tax reporting?
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Unincorporated businesses under the VAT threshold given an extra year to prepare before MTD becomes mandatory