Offshore Tax Havens

CP

Canada Has A Two-Tier Tax System And CRA Is Part Of The Problem

In regards to tax evasion and aggressive tax avoidance, the Canada Revenue Agency (CRA) should be part of the solution. At the moment, it rather seems to be part of the problem. Over the last few years, we have seen that the CRA institutionalized various practices, eroding the trust that Canadians place in it.
John Borthwick via Getty Images

Tax Agreements: From Double Taxation To Double Evasion

The issue of tax havens is inherently international in scope. As a result, the government can use tax agreements to fight tax avoidance schemes. Unfortunately, tax agreements haven't been used for that purpose. On the contrary, they have facilitated the outflow of Canadian money to offshore financial centres, and have done very little to break the damaging secrecy laws of these countries.
Chris Wattie / Reuters

Tax Evasion Will Persist Until Parliament Hill Steps Up

Liberal and Conservative members of the Finance Committee seem to have little appetite to pursue the matter any further and the committee will release its report this fall, and will move on to something else. As long as politicians will be timid and fearful of using their power, Canadians have little hope of seeing the issue of tax evasion or aggressive tax avoidance being addressed seriously by their politicians.
grandeduc via Getty Images

Is Canada's Financial Cupboard Really Bare?

The Liberals' primary planned revenue generator is the increased tax rate for Canadians in the upper income tax bracket but it's coupled with a one-and-a-half percent cut for middle income earners. They originally claimed that these measures taken together would add $3 billion to the federal coffers. However, they're already backing away from that rosy prediction.

The Conservative Proposal for Less Progressive Taxes Is a Bad Idea

In the real world, much of the money the rich and corporations gained from tax cuts is being socked away, often in tax havens. The amount of Canadian money in tax havens is at an all-time high. One of the main reasons corporations are not investing is that demand for products and services is weak because of stagnant incomes of middle and lower income Canadians.
CP

The Conservatives Are Going After Tax Cheats

Our government is taking action to ensure that our tax laws are respected, while simultaneously working at home and abroad to ensure that our tax system meets Canadians' expectations of fairness and transparency. We are supporting international talks to better share information and working to close loopholes.
Getty

It's Time for Stephen Harper to Get Tough on Tax Havens

Stephen Harper's decision to protect those who use international tax havens to evade paying their taxes is inexplicable and unacceptable. Canadian companies should be good global citizens paying their fair share of taxes in countries where they operate, not hiding behind tax shelters and shell companies. After all, tax evasion is hurting the Canadian economy as well -- one estimate puts the cost at $7.8 billion per year, or slightly more than the amount the government will spend on infrastructure in First Nations communities over the next decade. Yet the government will not even provide the Parliamentary Budget Officer with the data necessary to calculate an official figure.
Getty

The Problem With Tax Havens

A tax haven (or "fiscal paradise" in french) seems like a benign, if rampant, breach of the law. It's just a matter of shifting money around, right? Except when a secret company/tax haven is used to shield the activities of a notorious African dictator. Suddenly, the mysterious offshore world no longer seems so harmless.
CP

We're Fighting Tax Evasion, Really!

OTTAWA - The Conservatives are beefing up the tools used to go after tax cheats in the hopes of recovering billions in lost revenue.A team of six to 10 bureaucrats will be assigned to work only on pin...
Shutterstock

Wealthy Canadians Fess Up

OTTAWA - Wealthy Canadians with money stashed overseas have come forward in droves to confess their misdeeds after secret lists began circulating with the names of people apparently evading taxes in f...