Canada’s tax agency has identified nearly 900 Canadian people and corporate entities in the Panama Papers and five criminal investigations are underway, but so far no charges have been laid.
The Canada Revenue Agency is providing new details about the status of its probe of information leaked from Panamanian law firm Mossack Fonseca, detailing hundreds of billions of dollars from around the world sheltered in tax havens. To date, 894 Canadians – including individuals, corporations and trusts – have been identified in the papers and 525 of them have had their files reviewed by the CRA.Canada’s tax agency says it has completed 116 audits, resulting in over $15-million in federal taxes and penalties assessed.
National Revenue Minister Diane Lebouthillier says the government has been working to crack down on offshore tax cheats, pointing to two search warrants executed last week in an alleged case worth $77 million, which came from information in the Panama Papers. But Liberal Senator Percy Downe says he is concerned at how long it is taking CRA to investigate these cases, pointing to $500-million that has been recovered by other countries in the three years since the papers were released.
Simple, it’s not against the law to have money offshore as long as you declare foreign holdings on your tax returns every year. Many Canadian corporations that have operations or holdings in Latin America would have such Accts, again, its about disclosure.
900 or 9000? Trudeau’s lucky number begins with a 9 & ends with zeroes. SNCLavalin
Was Australia's fmr. PM Also mentioned in those Panamar Papers... A long with a host of others...!!! No charges there either...
MoreyASmith1 Probably Liberals and Trudeau's friends. Maybe they want the RCMP to do it? They are not on top if anything.
Zog + media
Is it because our government leaders are involved? 🤦♂️ TrudeauMustGo
Why the hell not!!!
Just because they were in Panama Papers does not mean they were doing illegal things. Remember, tax avoidance is not illegal.
To many high ranking individuals in the papers for the cra to step on their toes. I wonder if people in the LPC are on it and they are holding back until they are voted out next fall.
They better be burned for this. Any regular citizen would face large penalties for tax evasion.
Of course not. The elite do not have to worry about the law.
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