CANADA REVENUE STEPPING UP EFFORTS TO CATCH TAX CHEATERS

Apr 11, 2016

By Bob Komsic

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The revenue minister says imagines there must be people reading this who are nervous.
Diane Lebouthillier
Diane Lebouthillier says Ottawa wants to put the axe into everything that touches tax evasion.
Canada Revenue Agency is boosting efforts to find tax dodgers, including those who shelter money offshore.
CRA
The Trudeau government hopes this plan recoups $2.6-bilion in unpaid taxes the next five years.
Another 100 auditors are being brought in to focus on finding and prosecuting tax cheaters.
Under the plan, the CRA will examine all international funds transfers over $10,000 in and out of the country.
Four jurisdictions will undergo deeper scrutiny beginning with the Isle of Man, which saw $860-million e-transfers over a 12-month period.
Ottawa declines to release the names of the other three jurisdictions that will go under the microscope saying it doesn’t want to tip off tax dodgers.

Details of the stepped up efforts come in wake of the so-called Panama Papers, a leak of 11.5-million records from a Panamanian law firm, that reveal how the rich, powerful and famous hide their wealth in offshore tax havens.

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