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| Canada Plans Intensified Tax Haven Crackdown |
by Mike Godfrey, Tax-news.com, Washington
Friday, January 08, 2010
Canadian Minister for National Revenue, Jean-Pierre Blackburn, began a series of meetings with high level officials of the Seven
Country Working Group on Tax Havens on January 5.
According to Blackburn, the goal of these meetings is to improve Canada's cooperation
in combating tax havens and aggressive international tax planning schemes, and
to exchange information on additional methods to increase the effectiveness
of Canada's actions in this regard.
"By sharing their expertise and experience, Canada and its partners in
the working group can rely on the considerable achievements of the Organisation
for Economic Co-operation and Development (OECD) and the Global Forum on Transparency
and Exchange of Information and the progress that has been made since the meeting
of G-20 Finance Ministers last April,” Blackburn stated.
A statement from the Canadian government issued on Janaury 5 revealed that Blackburn was to participate
in working sessions on combating the abusive use of so called ‘tax havens’
with his counterparts in United Kingdom, France and Germany. While in France,
he was also due also meet with the director of the OECD's Centre for Tax Policy and Administration in Paris.
Blackburn has said that the issue of tax avoidance will be high on the government's
agenda in 2010. "The Canada Revenue Agency is a key member of the Seven
Country Working Group on Tax Havens. We exchange information, best practices
and educational material. We share leads in accordance with our respective legislation
and we work together on compliance measures. The efficient exchange of information
is a crucial practice for countries in order to ensure proper compliance with
and application of tax laws and tax agreements,” he explained.
Concluding, Blackburn called on taxpayers involved in aggressive tax planning
to use Canada's Voluntary Disclosure Program before their activities attract the
attention of the Canada Revenue Agency.
A comprehensive report in our Intelligence Report series,
examining in depth the situation of offshore transparency and secrecy in a number
of the most prominent jurisdictions, is available in the Lowtax Library at
http://www.lowtaxlibrary.com/asp/subs_reports.asp
and a description of the report can be seen at
http://www.lowtaxlibrary.com/asp/description_report2.asp
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