MPs Begin Tax Haven Hearing

 

Will it make a difference? 

The House of Commons Finance Committee has set aside four days of hearings (Feb.5,7,14,26) to examine the multi-billion dollar impact of  tax havens on Canadians.  Their mandate  is to make recommendations to the government to combat tax evasion and the use of tax havens.

Four days isn't a whole long time.

Especially when  C$160 billion is funnelled offshore. Every year.  Much of that money is never taxed. It is protected by a labyrinth of secrecy, lack of regulation or companies that exist only as post box addresses.

In the meantime, federal and provincial budgets are out tens of billions  - money that could be invested in infrastructure, health and education.  

This isn't the first time the committee has examined the issue - but nothing came of the last round in 2011.. and in fact, tax haven use reached an all time high that year. 

C4TF's Dennis Howlett is scheduled to talk to the committee on February 26th.