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[news] Revenue to clamp down on major eBay sellers

14-12-2008 2:29pm

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Bluetonic

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Revenue to clamp down on major eBay sellers
Sunday, December 14, 2008 By Adrian Weckler
The Revenue is planning to clamp down on people who generate profits trading on eBay, the online auction site.

The Revenue will begin probing the area in the New Year, and will initially focus on so-called ‘power sellers’ - individuals who make at least part of their living from selling items through the website.

For reasons of confidentiality, eBay has not disclosed how many of these are located in Ireland. However, the figure is thought to be more than 10,000, and it is expected that the Revenue will ask eBay to provide the details of those individuals in the coming months.

Those names will then be cross-checked against tax returns filed by the individuals, to determine whether the money earned has been declared for taxation purposes.

The move by the Irish tax authority follows a similar investigation in Canada in recent months. The Canadian Revenue Agency forced eBay to hand over its members’ personal account information so it could pursue them for tax. It focused on eBay sellers who made more than $1,000 per month for three consecutive months.

An increasing number of people are using eBay to buy and sell goods in Ireland, although the Revenue is not expected to pursue individuals who make the occasional transactions, and will focus instead on major traders. Trading on eBay is big business.

The auction site recently launched a Large Merchant Service, which caters for mass marketing operations. It also now has a new ‘diamond power seller’ status, reserved for those who sell over $500,000 per month of merchandise

www.sbpost.ie

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