Tax Evasion

Every year, owners of illicit wealth send huge sums of money from the countries where they made it to jurisdictions where they can conceal its origins. They can do so because laws, practices and intermediaries in the receiving countries make money-laundering safe and easy. These arrangements abet criminality, corruption and insecurity on a global scale. […]

OTTAWA, June 11, 2019 /CNW Telbec/ – The Honourable Diane Lebouthillier, Minister of National Revenue, today issued the following statement: “I thank the Offshore Compliance Advisory Committee (OCAC) members for their work and invaluable input in advising me and the Canada Revenue Agency (CRA) on the important topic of offshore tax compliance. The CRA has already […]

FRANKFURT (Reuters) – Frankfurt public prosecutors said they led a nationwide raid on eight homes and six asset managers on Wednesday as part of an investigation into wealthy individuals suspected of tax evasion. The action, which involved around 110 investigators, was a follow-up on a police raid last November of Deutsche Bank over money laundering […]

There’s an expression, “the cat is out of the bag” which means a plan is revealed before anything could be put into action – whether denial or confirmation. This could be the case for that much-sensationalized news about drafting a law punishing those engaging with cryptocurrencies. In truth, some GOI personalities’ negative perception of cryptocurrency […]

OrilliaMatters received the following letter from Rick Lockman about the state of our economy. ******************** Our economy is not struggling because too many Canadians are working and making too much money. It is struggling because too few are working making too little. More Canadians working, doing less, is better for our economy than too few […]

There have been hundreds of information exchanges between J5 members in its first 12 months – more than in the 10 years preceding. “Two weeks ago we took offline an important online mixer for cryptocurrencies,” FIOD director Hans van der Vlist said. “We are now analysing the seized information. We expect good leads for investigations […]

ISLAMABAD — Pakistani Prime Minister Imran Khan’s government is due to present its budget for the fiscal year through June 2020 next Tuesday, with the country bracing for a raft of belt-tightening measures to address an out-of-control deficit. Economists warn the government may have to come up with a combined 700 billion rupees ($5 billion) […]

HSBC offices in Geneva. (Harold Cunningham/Getty Images) Ana Swanson It was the most consequential leak in the history of the offshore world, providing journalists and the public an unparalleled view into a notoriously shadowy industry that shuttles secret wealth around the globe. In 2007, an engineer extracted detailed records on the hidden wealth of more […]

PANAMA CITY: US-educated political veteran Laurentino “Nito” Cortizo won Panama’s presidential election in an unprecedented close race on Sunday (May 5), with the electoral tribunal declaring a winner after 95 per cent of votes had been counted. In his victory speech, Cortizo called for national unity, after winning just a third of the votes with […]

NEW DELHI/BERNE: Amid a continuing crackdown on Swiss bank account holders with suspected illicit money, Switzerland has stepped up its process to share details of such individuals with Potluri Rajamohan Rao being the latest Indian national to get a notice in this regard. At least 14 Indians, with accounts in Switzerland-based banks, were issued notices […]