The Panama Papers.

[taxme]

Has anyone read or heard as to what is going on with the Panama Papers incident these days? The media seems to be all quiet about who or what Canadian may be involved. Just curious.

[PIK]

It turn out not to as big as people thought or there was to many left wing politicians caught, that they had to hide the report.

[?Impact]

Shouldn't this be under local politics, as there is about 3 times as many occurrences per capita in Vancouver than the rest of the country.

[Topaz]

There are too many other countries were they can hide their money, like Switzerland some Middle-east banks, the Christmas Islands, the Cook Islands, the Caribbean, any others??,

[jacee]

no-deals-for-panama-papers-tax-cheats-canada-revenue-agency/

Ottawa is cracking down on a growing number of Canadians named in the Panama Papers, with the Canada Revenue Agency warning the 2,671 individuals or firms under review they should not expect a negotiated settlement.

Tax cheats named in the Panama Papers have a window to apply for the Voluntary Disclosure Program to repay and avoid fines and criminal charges, up until the audit process starts. Then they no longer qualify.

The CRA has already launched 85 detailed audits of taxpayers, acting on information that was contained in the massive leak of confidential information from Panamanian law firm Mossack Fonseca in the spring. The figure shows the number of cases under audit has nearly doubled since May, when the CRA said it was looking into 45 cases.

The CRA has executed search warrants in a number of the 85 cases under audit over the summer, with more raids still in the works, agency officials have told The Globe and Mail.

Seems to me they've had enough warning. Time to nail their asses.

😊

Edited September 26, 2016 by jacee