News Archive
Thanks, but no thanks. We don't really want to talk to politicians about our operations in tax havens
That was the message from big banks like RBC and the Bank of Montreal as the Quebec Finance Committee began hearings on tax havens.
Quebec loses an esimated $1.5 billion in revenues because of operations. And the chair of the committee says he will subpoena bank officials if necessary.
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2015-09-28
Public screenings of the award-winning Canadian documentary film, The Price We Pay are taking place this week in Halifax, Sydney, Ottawa, Powell River and Vancouver.
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Why has the government let an offshore tax case involving a KPMG tax scheme drag on for 3 years?
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VANCOUVER – The offshore tax haven practices by the owners of Larco Investments is the latest example of why the federal government needs to get a grip on the burgeoning offshore tax haven industry.
Larco is one of Canada’s largest real estate developers. And as a result of a controversial sale-leaseback deal made with the federal government in 2007 they own multiple buildings that used to belong to Canadians. Now several government departments, including the Canada Revenue Agency pay millions of dollars in rent to Larco.
We joined our partners at Unite Here as they released a report Hide and Seek: How a Government Partner Uses Tax Havens to Avoid Canadian Taxes. It details how the owners of Larco moved millions of dollars in global revenues offshore between 1999 using the services of the much-investigated HSBC bank. Material for the report became public in the United States during Larco’s application to purchase a Las Vegas casino. It says that while there is no evidence of illegality, Larco is one of a string of corporations that have set up offshore subsidiaries and trusts, which in many cases are used to shift profits to reduce taxes. The report also asks what steps are being taken by the CRA to curb growing use of tax havens by wealthy individuals and corporations.
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2015-09-10
A wealthy Victoria, B.C.family avoided paying tax on more than $26 million over a span of eight years – by signing up for a tax “product” developed by mega-accounting firm KPMG. The same company that the federal government has hired to help it crack down on government misspending.
“We’re talking about millions of dollars that an accounting firm is pulling in by helping millionaires avoid paying their fair share,” says Dennis Howlett, executive director of Canadians for Tax Fairness. "KPMG sales agents and accountants were referred to as ‘champions’ if they convinced wealthy clients to participate. That’s not the kind of champion the Canadian tax system needs. And it definitely isn't the spirit of the law."
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2015-08-10
Tax loopholes,offshore havens,tax avoidance.
Canada's economy is being hobbled by our government's failure to tackle these important issues. And it is not as "complicated" to fix as some politicians say.
We need your help to make sure tax fairness is a key issue in the federal election.
Send an email to party leaders. Ask them to commit to tax fairness policies in their election platforms.
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2015-08-06
Tax fairness is a key element to a healthy economy and country. Here are some things to watch for in the leaders' debate to gauge what federal parties would do to plug loopholes, shut down tax havens and insure that everyone pays their fair share.
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2015-07-28
Canadians are getting impatient with governments that shrug their shoulders while billions of dollars get funnelled offshore every year.
Take a look at our brand new fact sheet for some great information. And read about some of the other things you can do to make a difference. Let's make sure everyone pays their fair share.
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2015-07-23
A big thanks to CCPA-BC for co-hosting a screening of The Price We Pay at the Rio Theatre. By all accounts it was a big hit and there was lots of good discussion afterwards. It has inspired people to pay attention to tax issues in the upcoming federal election.
Would your organization or community group like to set up a similar event? The producers of the film have negotiated a special deal for us, so it can be done with minimum cost.
Contact us - we'd love to help. Together, we can change this.
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2015-07-20
When the multi-billion Universal Child Care program was introduced earlier this year, many observers said it was designed as a pre-election goody than a serious attempt to help parents address the real costs of child care. This week Minister of Employment and Social Development proved it beyond a shadow of a doubt.
"One more sleep till Christmas in July for Moms and Dads!" tweeted Pierre Poilievere. Yes, that's an actual tweet from a cabinet minister.