Apr 05, 2016
By Jane Brown
Canada’s revenue minister is working to find out just how much money the federal coffers are losing to tax evaders.
Recent correspondence from Diane Lebouthillier to tax evasion watchdog Senator Percy Downe says her department hopes to determine the difference between what’s owed in taxes and what’s collected.
The promise comes on news of a leak of 11.5-million records from a Panamanian law firm on the hidden financial dealings of the world’s wealthy.
Word from the Trudeau Liberals in Ottawa is that our revenue agency already had much of the Canadian-related information contained in the so-called Panama Papers.
Lebouthillier’s office says the department has been monitoring all money transfers exceeding 10-thousand dollars since 2015 and any evidence of illegal transfers will be referred to the Public Prosecution Services of Canada.