eBay trader jailed over undeclared earnings

09/16/2014

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Corporate Laws, Global Tax Laws, Legal services

An eBay trader has been sentenced to two years in jail after failing to pay tax on over 500,000 items he sold on the auction website. While regarded as an extreme case, experts were today urging other eBay traders to declare their earnings or risk falling foul of the law.

The number of Europeans selling goods on the auction website has exploded in recent years. Many see it as a way of supplementing income while others have set up full-time.

There are around 200,000 business sellers registered on eBay today, up from 180,000 in 2011. The total number of sellers that use the site is much higher.

This trader failed to pay almost £300,000 worth of tax to HM Revenue and Customs from trades he made on eBay over a period of six years.

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