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Canada Needs to Act on Its Promise to Tackle Tax Havens

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edward222
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Canada Needs to Act on Its Promise to Tackle Tax Havens  Reply with quote  

Credit to: Offshore News Flash :
Canada Needs to Act on Its Promise to Tackle Tax Havens
quote:
Has Canada finally started to act on its promise to tackle tax havens?

Likely not. Government action to date has not matched the three-year-old promise to crack down on those who shuffle money out of the country to avoid paying their taxes. Last month’s federal budget promised $16 million a year for the Canada Revenue Agency to hire more auditors to go after aggressive tax planning that uses tax havens. But that hardly makes up for more than $600 million was cut over a two-year period in previous years.


Any opinions about this guys?
Anyone here affected?
Post Tue May 19, 2015 10:21 am
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littleroc02us
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My millions are in Switzerland, so I don't have more wealth to hide. On a serious note, this really isn't going to affect anyone that I know or has wealth. How is this affecting you?

Risk comes from not knowing what you're doing. (Warren Buffet)
Post Tue May 19, 2015 2:20 pm
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oldguy
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quote:
to hire more auditors to go after aggressive tax planning that uses tax havens.


But what could more auditors do?? If there is no law against tax planning and tax havens, auditors are useless. Just because someone "feels bad" doesn't mean the practice should be stopped?
Post Tue May 19, 2015 3:56 pm
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edward222
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quote:
Originally posted by littleroc02us
My millions are in Switzerland, so I don't have more wealth to hide. On a serious note, this really isn't going to affect anyone that I know or has wealth. How is this affecting you?


Well, I'm making half of my money in Canada, and involved in some tax planning activities using tax havens. I dont really know whats the effect on this on me, so I'm just wondering if anyone here is also affected or may have an idea on what will happen.
Post Wed May 20, 2015 2:58 am
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littleroc02us
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Sorry, cannot help you. I don't have any experience in Canadian tax laws. I live in the USA and my income is solely on US soil.

Risk comes from not knowing what you're doing. (Warren Buffet)
Post Wed May 20, 2015 8:44 pm
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