Remember the Panama Papers?
The two lawyers who run the law firm at the centre of it have been arrested in Panama (link is external) and charged with money laundering. Which begs the question: Since countries all over the world have started prosecutions based on Panama Papers documents, what is happening at the Canada Revenue Agency?
The CRA has 2,600 documents from the Panama Papers database (link is external). Late last year, CRA officials also confirmed to the Toronto Star (link is external)that they obtained tens of thousands more supporting documents from foreign governments and court orders to aid the investigations.
“Canadians deserve to know if any of the 85 Canadians whose names appeared in the Mossack Fonseca files will be prosecuted for offshore activity,” says Dennis Howlett, executive director of Canadians for Tax Fairness. “Many wealthy tax dodgers settle quietly out of court and never face the full consequence. If the CRA is serious about cracking down, it should be up front and detailed about their game plan or if they have made any deals." (more...)