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Mon Jun 10, 2013, 11:29 AM


Revenue Canada rejected secret tax haven files


The Canada Revenue Agency had an early chance to gain access to what is believed to be the largest-ever leak of tax-haven data, containing financial information on hundreds of Canadians involved in secretive offshore accounts, but missed out because of a policy of not paying for information, sources have told CBC News...

Heinrich Kieber, the source of that leak, wanted money as well but the agency wouldn't pay. In the end, he got $5.5 million from Germany and unspecified sums from Britain and the U.S. to supply DVDs full of records on his former employer's clients...

A third major disclosure of offshore banking records, in 2008, saw the U.S. obtain the account information of 4,500 Americans with money stashed in Switzerland. In that case, the banker at Swiss giant UBS who alerted the U.S. Internal Revenue Service was jailed for aiding tax evasion, but later collected a $104-million US whistleblower award.

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Reply Revenue Canada rejected secret tax haven files (Original post)
shockedcanadian Jun 2013 OP
Joe Shlabotnik Jun 2013 #1

Response to shockedcanadian (Original post)

Mon Jun 10, 2013, 05:10 PM

1. Its not accidental, or due to bumbling, red tape or regulations;

Those are convenient excuses. They simply don't want to expose themselves. From yesterday:

Canada slammed for lagging behind in fighting tax evasion
...Tax watchdog groups say Canada is resisting efforts by Cameron and G8 countries on a couple of measures that would further combat tax evasion, including identifying the true owners of offshore accounts and shell companies by disclosing whatís called beneficial ownership information.

The true owners of offshore accounts can often hide their identities through elaborate corporate structures and having someone else front a company on behalf of them.

Canadians for Tax Fairness, an advocacy group thatís part of a larger global network, says its sources also indicate Canada is fighting measures that would call for automatic tax information exchange agreements between countries that would help governments better track tax cheats.

The agreements would require governments to collect data from financial institutions on income from foreign sources and report it back to countries where the individual or company is located.

Standing along side of Canada is Russia, protecting its own oligarchs.

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