The Canadian Revenue Agency (CRA) has announced that Canadians will now be able to use PayPal to pay their taxes on the CRA website ahead of the April 30th personal income tax filing deadline.
According to PayPal Canada, there are more than 6.5 million active customer PayPal account holders in the country, as well as 250,000 Canadian small businesses who use the service.
“Tax season is stressful. We wanted to help ease the pain and make it convenient for our customers to use their PayPal account to pay their federal taxes,” said Paul Parisi, president of PayPal Canada, in a press statement.
“We are pleased to work with PayPal to make tax paying simple and secure,” added Robert Hyde, vice president of payment services for Payment Source, a third-party service provider for the CRA. “A digital payment solution like PayPal is ideal for Canadians who want to pay their taxes without revealing their bank account or credit card details to third parties.”
It’s important to note that a 2.29 percent ‘convenience fee’ will be charged by Payment Source when using PayPal on the CRA website.
Overall, more than 80 percent of Canadians file their returns electronically, according to the CRA. The ability to pay on the website is particularly useful, says the CRA, for the estimated 2.8 million Canadian citizens who live abroad and may be considered for tax purposes.
Source: Canada Newswire