National Newswatch

Justin Trudeau’s position on COVID-19 bailouts for tax-haven companies gets murkier

Apr 30 2020 — Marco Chown Oved — A day after saying in French that tax avoiding companies will not receive bailouts, Prime Minister Justin Trudeau would not make the same commitment in English. During question period Wednesday, NDP Leader Jagmeet Singh asked whether Trudeau would clearly commit to excluding companies registered in tax havens from receiving COVID-19 bailout funds, and Trudeau was […]

New trust fund rules meant to crack down on tax evasion

Jun 25 2018 — Marco Chown Oved — The federal government has introduced sweeping reporting rules for private trust funds, which have been abused for decades by some wealthy Canadians to hide money from tax collectors. Only months after the Star and CBC revealed an offshore trust fund worth $60 million (U.S.) linked to two generations of Liberal Party fundraisers in the Paradise […]

Ottawa lent $1 billion to a mining company that allegedly avoided nearly $700 million in Canadian taxes

Feb 5 2018 — Marco Chown Oved — The Canadian government provided more than $1 billion in loans to a mining company that used a complex offshore business structure to allegedly avoid nearly $700 million dollars in Canadian tax. Turquoise Hill Resources, a Canadian company headquartered in Vancouver and listed on the Toronto and New York stock exchanges, received a $750 million (U.S.) […]

More than 12,000 Canadians call on finance minister to raise corporate taxes, close loopholes

Jan 16 2018 — Marco Chown Oved — More than 12,000 Canadians have signed an online petition calling on Finance Minister Bill Morneau to ensure Canada’s biggest corporations pay their fair share of taxes. The petition on was launched by advocacy group Democracy Watch after the Star, in partnership with Corporate Knights magazine, published an investigation last month that showed how individuals […]

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

Jan 12 2018 — Marco Chown Oved — 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 […]

Canadians want Ottawa to ban use of tax havens, poll finds

Dec 13 2017 — Marco Chown Oved — Ninety per cent of Canadians believe tax havens are morally wrong and 87 per cent think the law should be changed to ban their use, according to a new poll released Wednesday. “We knew there was broad support out there to end tax havens, but the response was overwhelming,” said Diana Gibson, a policy expert […]

Canada’s biggest corporations have more than 1,000 subsidiaries in tax havens, report says

Nov 15 2017 — Marco Chown Oved — Canada’s 60 biggest corporations have more than 1,000 subsidiaries in offshore tax havens, depriving government coffers of up to $15 billion annually, according to a new report being published Wednesday. The report, titled “Bay Street and Tax Havens: Curbing Corporate Canada’s Addiction” and prepared by the group Canadians for Tax Fairness, shines a light on […]

Paradise papers: Solving the tax haven riddle

Nov 10 2017 — Marco Chown Oved — In the hours and days after the Paradise Papers were made public, politicians around the world were falling over each other to show they were cracking down on the tax havens that deprive billions from public accounts every year. “We use the information received through leaked lists when they arise, but we do not wait […]

Government official held secret meetings, gave advice to pro-tax haven lobby group

Nov 8 2017 — Marco Chown Oved — Leaked documents from the IFC Forum, a lobby group funded by 11 of the world’s biggest offshore law firms, reveal unreported meetings with senior Canadian officials. 2013 was a bad year for tax havens. In April, the International Consortium of Investigative Journalists (ICIJ) released its first global exposé detailing secret offshore bank accounts of hundreds […]

The CRA is keeping tax cheat data secret, breaking minister’s commitment

Jun 17 2017 — Marco Chown Oved — Canada’s tax authority refuses to say how often it has used international treaties and agreements to obtain information on tax cheats, despite a commitment by the national revenue minister to publish these statistics. Canada has a world-leading 115 tax treaties and Tax Information Exchange Agreements (TIEAs). Since 2010, tax cheats and criminals have used these […]

Panama Papers have helped fuel ‘a more aggressive CRA’

Mar 20 2017 — Marco Chown Oved — For the Canada Revenue Agency, the Panama Papers was a line in the sand. Unlike those exposed by previous leaks, tax cheats named in the massive database won’t be offered amnesty; instead, they’re more likely to end up doing hard time. “This is a more aggressive CRA,” said assistant commissioner Ted Gallivan in an interview […]

Bermuda names fined banks while Canada keeps them secret

Mar 3 2017 — Marco Chown Oved — It took more than 10 months for Canadians to learn the name of the bank that had been fined for about 1,200 breaches of money laundering laws last year. The same day Manulife Bank admitted to being the culprit, Bermudan authorities named and shamed a Canadian investment firm for similar infractions, saying it always identifies […]