Canada Revenue offered amnesty to wealthy KPMG clients in offshore tax 'sham'

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Canada Revenue offered amnesty to wealthy KPMG clients in offshore tax 'sham'
Topic Started: Mar 9 2016, 01:46 AM (98 Views)
Darcie	Mar 9 2016, 01:46 AM Post #1
Skeptic Posts: 31,154 Group: Member Member #714 Joined: March 30, 2010	snip Quote: CBC/Radio-Canada obtained a copy of the confidential nine-page offer, signed on May 1, 2015 by CRA's manager of offshore compliance, Stephanie Henderson. It promised KPMG clients that the CRA would not impose any penalties for taxes dodged in a scheme that lasted more than a decade. KPMG offshore 'sham' deceived tax authorities, CRA court documents allege The offer was made despite CRA uncovering the KPMG scheme, which had at least 26 wealthy clients each investing a minimum of $5 million using shell companies on the Isle of Man. Before offering the deal, the tax agency had already assessed huge penalties against a handful of the earliest clients, alleging the scheme was "grossly negligent" and had "intended to deceive" the minister of revenue http://www.cbc.ca/news/business/canada-revenue-kpmg-secret-amnesty-1.3479594?cmp=rss&cid=news-digests-canada-and-world-morning And then we say the CPC is fair and above board and treats everyone equally. Disgusting.



Trotsky	Mar 9 2016, 02:49 AM Post #2
Big City Boy Posts: 38,319 Group: Member Member #79 Joined: September 8, 2005	<eye-roll to the point of migraine>



Delphi51	Mar 9 2016, 09:08 AM Post #3
Member title Posts: 13,967 Group: Administration Member #441 Joined: October 10, 2006	The offer is no penalty, legal fight, just pay the taxes owed. I think this is offered by CRA in a lot of cases, especially when it is likely years in the legal system would cost more than penalties would gain. Hopefully the scam in the Isle of Mann will be shut down by its government.



friendshipgal	Mar 9 2016, 11:56 AM Post #4
Guess everyone wants their own Trudashians Posts: 12,815 Group: Member Member #241 Joined: February 12, 2006	That's about it. This way they get their money back with no costly legal fees because we know they would fight it. I'm sure other people get the same deal. Nothing to do with the CPC, Revenue Canada does what it has to do. Canada can't force other countries to shut down their scams.



Dialtone	Mar 9 2016, 12:04 PM Post #5
Gold Star Member Posts: 7,190 Group: Member Member #721 Joined: April 1, 2010	What does the CPC have to do with any of this ? It appears to be mentioned just to inflame, some people are obsessed , it's not even mentioned in the CBC article. Revenue Canada carries on regardless of which political party is in power, there is no new CRA with every election.. how ludicrous that would be.



Darcie	Mar 9 2016, 12:14 PM Post #6
Skeptic Posts: 31,154 Group: Member Member #714 Joined: March 30, 2010	Dialtone Mar 9 2016, 12:04 PM What does the CPC have to do with any of this ? It appears to be mentioned just to inflame, some people are obsessed , it's not even mentioned in the CBC article. Revenue Canada carries on regardless of which political party is in power, there is no new CRA with every election.. how ludicrous that would be. May 2015 Accountability for your term in office maybe?



friendshipgal	Mar 10 2016, 03:05 AM Post #7
Guess everyone wants their own Trudashians Posts: 12,815 Group: Member Member #241 Joined: February 12, 2006	The CPC at least opened a tip line and offered a % for information on tax cheats. Did you complain about previous gov�ts doing the same thing and not closing tax loopholes? Did you complain when the Liberals allowed the rich to avoid income tax by entering their income via personal corporations. Did you complain about Liberal accountability when it had a direct conflict of interest by not closing tax loopholes allowing companies such as Paul Martin�s CSL to continue avoiding taxes and paying higher salaries? One of the most egregious tax avoiders because of the high political office held. While Rev. Canada has broad powers there are other reasons why Rev. Canada doesn�t pursue some issues as much as we think they should, in part because of spurious and costly legal arguments. Also because of the Charter and an S.C. ruling which gave tax evaders protection e.g. self-incrimination. Mostly, the gov�t just wants its money along with interest and penalties back http://www.cra-arc.gc.ca/gncy/lrt/txprtstrs-eng.html http://scc-csc.lexum.com/scc-csc/scc-csc/en/item/2015/index.do



friendshipgal	Mar 10 2016, 04:56 AM Post #8
Guess everyone wants their own Trudashians Posts: 12,815 Group: Member Member #241 Joined: February 12, 2006	http://news.gc.ca/web/article-en.do?nid=1038949&tp=980 Court cases related to tax matters can be complex and sometimes lengthy. Where appropriate, including with matters before the courts, and in consultation with the Department of Justice, the CRA seeks to resolve matters through a settlement offer that is based on facts and in accordance with the law. Early dispute resolution, where appropriate, is in the public interest�litigation is costly for everyone and the outcome of complex, tax-related litigation processes may be unsuccessful. In fact, the Fall 2013 report of the Auditor General of Canada on the CRA's management of cases related to Lichtenstein recognized that settlements are useful and appropriate in allowing the CRA to identify participants and learn more about the nature of complex offshore schemes.



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