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Canada wont say if it has collected taxes from Panama cheats

Canada wont say if it has collected taxes from Panama cheats

Canada won’t say if it has collected any lost taxes from Panama Papers cheats. The rest of the world has recovered more than $500 million

Source: The Star
Author: Marco Chown Oved

More than half a billion dollars have been recovered by tax agencies worldwide — none of it by the CRA, which says it does not trace the source of assessments related to the Panama Papers leaks.

While tax agencies around the world have already collected more than half a billion dollars from tax cheats identified in the Panama Papers, Canada won’t say if it has collected anything and will not release a number until mid-2020 at the earliest.

Spain alone has collected $122 million (U.S.) in the nearly two years since the leak of tax haven data was made public by the International Consortium of Investigative Journalists and the Toronto Star/CBC in Canada. Fourteen other countries have publicly released amounts of taxes recouped from those named in the leak, including Mexico, Australia, Ecuador and Malta, bringing the worldwide total to more than $500 million.

Read the full article here.

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