A group of neighbours and friends in a Montreal community become outraged by corporate tax avoidance and the fact that 1 per cent of people own half the world's wealth? What happens next? Pushback time - and a voice in the next federal election, for starters. Read this profile to find out the whole story.
This week you have a chance to join with people the world over who believe governments have to stop corporate tax evasion. A global photo petition has been put together by our partners, the Global Alliance for Tax Justice. It is intended to influence decisions at an upcoming United Nations Conference on Financing for Development.
Download and print any of the signs from the Global Tax Justice campaign page. Get family, friends and colleagues to take your photo holding the sign with your message. Post the photo to Twitter using #TaxJustice and tag @CdnTaxFairness too. Or uplodad your photo to the Global Tax Justice campaign page.
A documentary about the murky world of offshore tax havens is set for a screening at Ottawa’s downtown Shaw Centre (former Congress Centre) June 16 at 7pm. The Price We Pay by Harold Crooks goes behind the scenes to show how multinationals and the super-wealthy game the system to avoid paying tax.There is at least $199 Billion officially reported Canadian corporate funds in the top ten tax havens – part of the $38 trillion diverted internationally.
Interested in working with us to set up a screening in your community? Contact us and we can work with you to make it happen.
Canada's Senate has started a debate on the Fairness for All Canadian Taxpayers Act. The legislation was introduced by Charlottetown Senator Percy Downe, a long-time critic of government inaction on tax havens. "This is about the right of Canadians to know that their tax system is fair. The current state of affairs suggests a failure on the part of the Canada Revenue Agency to come to terms with overseas tax evasion. It has created a problem that is costing the Canadian government billions in lost tax revenue."
In theory, governments aren’t supposed to tax essential items.Yet every year the CRA collects an estimated $36 million from federal tax on tampons.That's just the tip of the iceberg. Sadly, the tampon tax is loose change compared to other ways tax policy fails women and costs them and their families.
It turns out that Senator Mike Duffy is no great fan of tax fairness. Surprised?
Press Progress sleuths have turned up an entry in the beleaguered senator’s diary that shows he communicated with the Minister of National Revenue’s Chief of Staff for help on a speech defending the Canada Revenue Agency. It indicates that Duffy’s speech would be defending the CRA from “attacks re:offshore tax cheats.”
Assets officially held by Canadian corporations in the top ten tax havens reached $199 billion dollars last year. This is up from $187 billion in 2013. It is a stark and expensive reminder that Canadian corporations are continuing to shelter funds offshore while the government does little to curb the practice. Prime destinations for the money are Barbados ($71B) and Cayman Islands ($36B) – two notorious tax havens that have been a consistent destination for Canadians seeking to avoid paying taxes. In the one year period between 2013-2014, Canadians funnelled $8B to those two havens alone.
More than half a billion dollars was cut from the CRA budget during a two year period in 2012-2013. In Budget 2015, the Finance Minister is proposing to return only $16 million a year over the next five years.
“It is good that Mr. Oliver has put money back into the CRA," says Tax Fairness' Dennis Howlett." But this doesn’t replace damage done over the past several years."These major cuts to CRA staff and lack of focus on the biggest tax cheats has resulted in a record high $178Billion of Canadian money in offshore tax havens. Much of that money remains untaxed.
Is the government serious about tackling offshore tax evaders? You decide.
Tax evasion convictions in Canada have dropped by more than half since 2009. The figures show that in 2010, 216 were found guilty. Three years later, in 2013, that number dropped to 98.
Do these numbers mean that there are fewer tax cheats? Or could it mean that widespread cuts to both the CRA and the Department of Justice have hobbled efforts to crack down on Canadians who try to play the system?