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CRA signs secret settlement with wealthy KPMG clients involved in offshore tax scheme
Watchdog group accuses the Liberals of covering up the KPMG affair
Cashore, Harvey http://www.cbc.ca/news/business/cra-kmpg-settlement-taxes-1.5154610
Publisher: CBC
Date Written: 30/05/2019
Year Published: 2019
Resource Type: Article
The Canada Revenue Agency has settled out of court and off the record with large tax avoiders. This follows years of promises to crack down on tax evasion and have more transparency at the CRA.
Abstract:
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Excerpt:
The Canada Revenue Agency has once again made a secret out-of-court settlement with wealthy KPMG clients caught using what the CRA itself had alleged was a "grossly negligent" offshore "sham" set up to avoid detection by tax authorities, CBC's The Fifth Estate and Radio-Canada's Enquête have learned....
The Canada Revenue Agency says strict privacy provisions of Canadian tax law make it difficult to disclose minutes describing individual taxpayer information.
The Isle of Man tax dodge had been active as far back as 1999 and, according to documents filed in Tax Court by the CRA in 2015, had "intended to deceive" federal regulators.
Still, significant details of the scheme remain a mystery, including the role played by the KPMG's senior executives. With no public trial, those details may continue to remain secret.
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