Government Moving Forward to Address Tax Evasion Through the Automatic Exchange of Tax Information

February 5, 2016 – Ottawa, Ontario – Department of Finance Finance Minister Bill Morneau and Minister of National Revenue Diane Lebouthillier today announced that the Government of Canada has signed a Joint Declaration with Switzerland expressing the intent of the two countries to engage in the automatic exchange of financial account information in accordance with…

Canadian Government combats international tax evasion by joining forces with international tax jurisdictions

Minister Findlay signs the Multilateral Competent Authority Agreement, helping to set the stage for the automatic exchange of financial information with international partners starting in 2018 June 2, 2015 – Ottawa, Canada – Canada Revenue Agency The Honourable Kerry-Lynne D. Findlay, P.C., Q.C., M.P, Minister of National Revenue, today signed the international Multilateral Competent Authority Agreement (MCAA), an…

Warning: be cautious if you are thinking of participating in a gifting tax shelter scheme

Although the Canada Revenue Agency (CRA) regularly issues warnings and has reassessed thousands of participants, some taxpayers are still participating in gifting tax shelter schemes. Here’s what you need to know about such schemes: The CRA will hold the 2014 assessments of participants in tax shelter arrangementsTo protect the integrity of the tax system, the CRA will…

Harper Government joins forces with Canada's business community to fight the underground economy

Minister Findlay strikes first-ever Advisory Committee on the Underground Economy November 17, 2014 – Toronto, Ontario – Canada Revenue Agency The Honourable Kerry-Lynne D. Findlay, P.C., Q.C., M.P., Minister of National Revenue, today hosted the inaugural meeting of the new Underground Economy Advisory Committee. The Advisory Committee, comprised of representatives from key industry stakeholder organizations…

Don’t buy into illegal tax protester schemes

The Canada Revenue Agency (CRA) is always on the lookout for illegal tax schemes and those who promote them. The CRA works closely with the Royal Canadian Mounted Police, provincial and local police, and other law enforcement agencies on tax cases to maintain the integrity of the tax system. The CRA is particularly concerned that…

Will you do the job for cash? It’s risky business

Before you begin a construction or renovation project, remember this: there are significant risks if you accept cash for the job without reporting your income. Contractors caught not reporting cash income face serious consequences, such as penalties, court fines, and even jail time, in addition to having to pay the taxes they are trying to…

Harper Government announces new measures to crack down on international tax evasion and aggressive tax avoidance

Ottawa, Ontario, May 8, 2013… The Honourable Gail Shea, Minister of National Revenue and Minister for the Atlantic Canada Opportunities Agency and the Honourable Maxime Bernier, Minister of State (Small Business and Tourism), today announced new measures to combat international tax evasion and aggressive tax avoidance, including a $30-millioninvestment by the Harper Government and the creation of…

Minister Shea highlights new initiatives to crack down on International Tax Evasion

Ottawa, Ontario, April 9, 2013… The Honourable Gail Shea, Minister of National Revenue, today highlighted important new initiatives introduced by the Harper Government in Economic Action Plan 2013 to strengthen the capacity of the Canada Revenue Agency (CRA) to crack down on international tax avoidance and evasion. “Our Government has long recognized that international tax evasion…

Statement from the Honourable Gail Shea, Minister of National Revenue

The Honourable Gail Shea, Minister of National Revenue made the following statement regarding the recent media coverage regarding a list of Canadians with offshore assets. “Anyone with information on tax cheats has an obligation to bring it forward. The release of this information is good news for the hardworking Canadians who pay their fair share. …

Morinville painter fined $14,096 for tax evasion

Edmonton, Alberta, December 14, 2012… The Canada Revenue Agency (CRA) announced today that Anthony Banks recently pleaded guilty in Alberta Provincial Court to charges of tax evasion and was fined $14,096. The fine represents 50% of the federal taxes and goods and services tax (GST) that he evaded. The charges are in connection with Mr. Banks’…