DRASTIC CHANGES NEEDED AT CRA

  While tax agencies around the world have already collected more than half a billion dollars from tax cheats identified in the Panama Papers, Canada Revenue Agency won’t say if it has collected anything and will not release a number until mid-2020 at the earliest.
   The Star and CBC published more than 50 reports based on information in the leak exposing tax evasion and avoidance, lax government enforcement, secret commissions, corruption schemes and UN embargo violations.
   The investigations also revealed that Canada was being used as a tax haven by foreigners, attracted by our sterling international reputation and lax corporate transparency laws. This process of laundering money through Canada is referred to as “snow washing” and was exposed for the first time last year.