‘Panama Papers’ probe leads to search warrants executed in Vancouver

The Canada Revenue Agency says two search warrants were executed in Vancouver Thursday to find further evidence into a $77 million offshore tax evasion case related to the “Panama Papers.”

Forty investigators were involved in what the agency described as a “major operation.” The agency did not reveal the location or locations of the searched property or properties, or whether anyone was arrested or charged.

“A CRA investigation uncovered a series of transactions involving offshore tax havens in an alleged attempt to evade payment of $77 million in non-resident withholding tax,” said the agency in a news release. “The relationships between the domestic and offshore entities involved were confirmed through various information sources, including records obtained through the ‘Panama Papers’ leak.”

Added the agency: “The CRA’s search today, along with other recent searches relating to offshore tax evasion and money laundering demonstrates that progress is being made to crack

... read more at: https://www.burnabynow.com/community/panama-papers-probe-leads-to-search-warrants-executed-in-vancouver-1.23774093

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