Canadians for Tax Fairness will appear before the Finance Committee today to deliver this message to Parliament
"The Tax Industry will tell you that they have it under control and that confidentiality should trump the public interest. This is not their call to make. It is yours. It is time to prioritize the public interest so that every Canadian paying their fair share isn't trumped by professional facilitators used by the wealthy.
Isle of Man, Panama, Cayman Islands... we have had enough."
Read the entire presentation by Executive Director Dennis Howlett and Board Member and ACFO counsel Scott Chamberlain.
Will the committee get bowled over by the big accounting? If they do, it has serious repurcussions for the state of our tax system.
The Canada Revenue Agency scored worse of any government department for deleting paper and electronic files. We sympathize - who doesn't have way too many emails in their inbox? But this is the CRA - the guys who are supposed to be in the know when it comes to good records management.
Want a glimpse of what kind of person gets involved with a Panamian law firm specializing in creating offshore companies and "handling" assets? Take a look at this video interview the Toronto Star has published with Canada's Danny Lalonde, a former professional boxer who dreamed of retiring to a tropical lifestyle.
Hey Canada! It's 2016. Do you know where your money is?
In the span of a single year, $40Billion Canadian flowed to the top 10 tax havens – an all time high. Tax havens now hold at least $270B of Canadian corporate money, mostly untaxed. And this was all happening while the Department of Finance and the Canada Revenue Agency was assuring us that they had it all under control.
Read on to find out the most popular tax havens for wealthy Canadians... and more importantly, how to turn this problem around.