Nov 06, 2017

By Christine Ross

Share on

The Canada Revenue Agency is promising action–if needed–on Canadian tax evaders exposed in the co-called Paradise Papers. That pledge comes after news this weekend of a second massive leak of tax haven financial records, over 13 million this time, including more than three-thousand Canadian individuals and entities. However, neither the C-R-A nor any court has determined the Canadians did anything wrong. Canadian corporations named in this leak include Loblaws, Montreal Canadians, SunCor and Maple Leaf Foods. They all hired law firm Appleby to place their money offshore. In a statement, Abbleby says it advises its clients in a “lawful way.” Tax-avoidance measures involving offshore trusts are legal, provided certain rules are followed. Among the names that pop up with links to offshore accounts are former prime ministers Brian Mulroney, Paul Martin and Jean Chretien, the Queen, and U-S Commerce Secretary Wilbur Ross. Offshore accounts are used by wealthy individuals and corporations as a legal way to reduce their tax burden, although the anonymity provided to some has also led to associations with tax evasion, money laundering and organized crime.

Advertise With Us

To learn about advertising opportunities with Zoomer Radio use the link below:

Join Our Fan Club
Coverage Area
Downtown Toronto
Toronto HD
96.3 HD-2
Kingston to Windsor, Parry Sound to Pittsburgh
ZoomerRadio Logo

Recently Played: