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US Paypal tax probe

The United States authorities are targeting PayPal.

The online payment company has been asked to hand over details of offshore credit cards used by American citizens, as the US government tries to uncover tax evasion and online gambling.

PayPal has been summoned by the Internal Revenue Service through the US District Courts to give the account records.

The Isle of Man has been named in the case as one of the jurisdictions American tax authorities want to know about.

The IRS says the investigation isn’t about eGaming, but rather an attempt to uncover tax evaders who haven’t declared offshore accounts.

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