PayPal's Australian profits exposed
One banking mystery has been cleared up by yesterday's data dump by the Australian Taxation Office.The data shows that the revenue, profit and tax paid of PayPal Australia in 2013-14 were A$255 million, $12 million and $3.6 million, respectively.In its financial report for 2014 lodged with ASIC, PayPal presented a different picture for its Australian arm. In that document PayPal reported revenue of $291 million and a net profit of $2.2 million, much less than disclosed to the ATO.