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In settings the only option in the drop-down to change the timezone is "(GMT-08:00) Pacific Time". I tested on different browsers, no success. The problem is mentioned on these older threads :
This is an annoying bug because it can mess-up your payments by days. My timezone is GMT+03:00 so the difference is 11 hours.
I have the same issue for ages, and seems that Paypal doesn't want to resolve it never.