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Paypal and taxes in Europe
Thread poster: Patricia Posadas

Patricia Posadas  Identity Verified
Spain
Local time: 05:26
Member (2002)
English to Spanish
+ ...
Apr 4, 2005

I have received this below from Paypal. Fortunately I had declared every cent of it despite some advice from people who thought this money wouldn't 'come up' ...
____________________________________________

We require additional information about your account for the following reason(s):


Mar. 21, 2005: You have received €6,500.00 EUR or more in total payments to your PayPal account.

PayPal is required by law to comply with European Union Anti-Money Laundering regulations by collecting information from customers when they receive more than the set limit in total payments. These steps need to be completed within 180 days to comply with this regulation.


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Ralf Lemster  Identity Verified
Germany
Local time: 06:26
English to German
+ ...
Are you sure this is genuine? Apr 4, 2005

Hi Patricia,
I'd be suspicious - most anti-money-laundering thresholds I'm aware of are higher than EUR 6,500. Have you checked the IP headers?

Best, Ralf


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Patricia Posadas  Identity Verified
Spain
Local time: 05:26
Member (2002)
English to Spanish
+ ...
TOPIC STARTER
Looks ok Apr 4, 2005

Thanks Ralf, first I thought there might be something wrong with it because there are so many frauds around Paypal. But the thing is everything seems ok and I need to go through their resolution center and fax some documents.

https://www.paypal.com/cgi-bin/webscr?cmd=_login-done&login_access=.................... I won't give the full data just in case

The also say "If you have any trouble completing the steps, please feel free to contact Customer Service on +1-402-935-2080" which is the usual phone number.

I haven't sent anything yet... now I am wondering. I think I'd better call them.

Regards,

Patricia





[Edited at 2005-04-04 08:37]


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Evert DELOOF-SYS  Identity Verified
Belgium
Local time: 06:26
Member
English to Dutch
+ ...
I'd say all's fine Apr 4, 2005

Hi Patricia,

I had to do the same thing fairly recently (did indeed receive quite some funds thru PayPal, even though I normally don't accept large sums thru this service as their commission fee is far too high).

All proceedings went thru my own account first and whichever steps I had to take were pretty straightforward and easy.
Communications with PayPal went smoothly and everything returned back to normal now.

Thanks for checking with PayPal there. I'd appreciate your comments afterwards!

Have a nice day,

Evert


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Kaori Myatt  Identity Verified
France
Local time: 06:26
Member (2004)
English to Japanese
+ ...
I think tax system has changed as of 1st of April Apr 4, 2005

I think new tax system has been introduced as of 1st of April. All the accounts in Europe should be open to the tax authority...that is what I heard.
Is it something to do with the new system??


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Patricia Posadas  Identity Verified
Spain
Local time: 05:26
Member (2002)
English to Spanish
+ ...
TOPIC STARTER
no extra info Apr 4, 2005

I called the customer support center at the number they gave on the notification but after talking to a machine and waiting for 15 minutes I didn't get through the agent they said I'd get

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N.M. Eklund  Identity Verified
France
Local time: 06:26
Member (2005)
French to English
+ ...
WAIT- don't do anything yet Apr 4, 2005

This looks suspicious to me.
Two months ago I received exactly the same thing using the same amount (6500 euros), and yet I have NEVER used my pay pal account.

I will speak to a tax specialist friend of mine and get back to you as quickly as possible. But in the meantine, don't fax anything.


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Patricia Posadas  Identity Verified
Spain
Local time: 05:26
Member (2002)
English to Spanish
+ ...
TOPIC STARTER
Thanks... Apr 4, 2005

I'll wait then... and I'll try to get them on the phone later today to ask for a reference to the regulation or something. I only use Paypal for payments from USA customers, but I have been using it on a regular basis since November because my bank charges huge fees on US checks and takes almost 1 month to settle them. I wouldn't like to get into trouble, however.

N.M. Eklund wrote:

This looks suspicious to me.
Two months ago I received exactly the same thing using the same amount (6500 euros), and yet I have NEVER used my pay pal account.

I will speak to a tax specialist friend of mine and get back to you as quickly as possible. But in the meantine, don't fax anything.


[Edited at 2005-04-04 14:49]


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Evert DELOOF-SYS  Identity Verified
Belgium
Local time: 06:26
Member
English to Dutch
+ ...
Just spoke to PayPal - message comes from them! Apr 4, 2005

I can confirm that I just spoke to someone from PayPal who confirmed the complete process. Not a matter of phishing or identity theft at all. And nothing fishy about it.

You may safely send them the info they requested; as mentioned earlier, you're indeed required to first log into your account before you can actually fax them anything, so it's indeed safe to assume all's OK.

Best,

Evert



[Edited at 2005-04-04 15:16]


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Patricia Posadas  Identity Verified
Spain
Local time: 05:26
Member (2002)
English to Spanish
+ ...
TOPIC STARTER
Great Evert! Apr 4, 2005

I am happy everything is ok, it did look like a true thing, not those messages one gets by e-mail, but it is better to be sure, that's why I called them. Hope you didn't have to wait much longer than the 15 min. I spent

Regards,

Patricia


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N.M. Eklund  Identity Verified
France
Local time: 06:26
Member (2005)
French to English
+ ...
Great to hear, but still suspicious Apr 4, 2005

hi,
We just finished digging through the 2005 European tax laws.
According to the information you gave, this is not an accurate email. This is why I found it fishy.

Under European law, the limit is set at 15,000 euros before any financial establishment of any sort is required to verify identification. 6500 just seemed a bit too low.

This could be their own internal rule, and they have every right to do so, but stating the European rules was false.

If you like I can site the exact reference, but it's in French.

Plus, I just spent a long while trying to find some mention of a specific limit that would entail needing identification. The account policies mention the initial sender's limit, but do not specify the amount.

It's your call, of course,
Hope this helped


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Hans G. Liepert  Identity Verified
Switzerland
Local time: 06:26
English to German
+ ...
Laws and thresholds Apr 4, 2005

Patricia Posadas wrote:

PayPal is required by law to comply with European Union Anti-Money Laundering regulations by collecting information from customers when they receive more than the set limit in total payments.


Just ask them, which law of which member state.


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Patricia Posadas  Identity Verified
Spain
Local time: 05:26
Member (2002)
English to Spanish
+ ...
TOPIC STARTER
I sent them a message... Apr 4, 2005

Even if it is not a scam and even if I will send my data anyway, I sent them a query through the customer service saying I have been informed the threshold is usually higher and asking for more details.

Let's wait...

Patricia


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Federica Masante  Identity Verified
Local time: 06:26
Member (2003)
Italian to English
+ ...
same thing here Jun 11, 2005

Dear all,

I received exactly the same message this morning and was wondering whether someone had actually followed all of PayPal's instructions and got their accounts back to normal and how fast? The email is undoubtedly genuine as you have to long into your PayPal account before being able to fax the info through but what puzzles me is why we have to go to all this bother to keep using our account? Has anyone got any feedback on how they sorted this one out?

Thanks!

Federica


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Evert DELOOF-SYS  Identity Verified
Belgium
Local time: 06:26
Member
English to Dutch
+ ...
I did everything according to procedure Jun 11, 2005

Federica Masante wrote:

Dear all,

I received exactly the same message this morning and was wondering whether someone had actually followed all of PayPal's instructions and got their accounts back to normal and how fast? The email is undoubtedly genuine as you have to log into your PayPal account before being able to fax the info through but what puzzles me is why we have to go thru all this bother to keep using our account? Has anyone got any feedback on how they sorted this one out?

Thanks!

Federica


and everything went smoothly in just a few days.
No fishy phishing stuff here!


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