Canadian companies failed to pay billions of taxes owed, new CRA report reveals | The

However, the tax gap study brings no clarity to the question of how much tax income is being lost to the legal offshore flow of Canadian wealth — issues highlighted by the Panama Papers and Paradise Papers investigations.

That analysis is “highly complex,” the CRA report says, because it is “often difficult to distinguish between legitimate and abusive activities based on information available to tax administrations. Many techniques are fully compliant with the laws of the countries involved.”

Giroux says that while the report focused on offshore wealth movement that is illegal, it fails to address that which is “questionable from a moral perspective. … It remains a big question mark still. It’s difficult (to calculate), yes. But to say there’s no way for CRA to know, that’s probably too big a stretch. There is a way, but it involves collaboration with multiple partners.”

Giroux says he raised his concerns with

... read more at: https://www.thestar.com/news/investigations/2019/06/18/canadian-companies-failed-to-pay-billions-of-taxes-owed-new-cra-report-reveals.html

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