Canada: Panama Papers have helped fuel ‘a more aggressive CRA’

No Comment 14 Views

For the Canada Revenue Agency, the Panama Papers was a line in the sand.

Unlike those exposed by previous leaks, tax cheats named in the massive database won’t be offered amnesty; instead, they’re more likely to end up doing hard time.

“This is a more aggressive CRA,” said assistant commissioner Ted Gallivan in an interview with the Star. “There are some actors who need that threat of a jail term to stop, or they actually physically have to be locked up in jail to get them to discontinue their activities.”

Tax fraudsters identified in the Panama Papers will not be allowed to clear their name by declaring their hidden assets and paying back taxes and interest, a process called voluntary disclosure.

Read more here: thestar.com


Get headlines, breaking news, and jobs announcements delivered to your inbox. Sign up for our daily newsletter.

Share This Page
Industry Webinars
FEATURED Solutions
Learn About RDC