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RSS FeedsCRA conducts simultaneous Panama Papers raids in the GTA, Calgary and Vancouver
(The Star Toronto Raptors)

 
 

14 february 2018 23:23:17

 
CRA conducts simultaneous Panama Papers raids in the GTA, Calgary and Vancouver
(The Star Toronto Raptors)
 


Nearly two years after the Panama Papers leak was made public, Canadian tax officials have carried out their first major raids, executing three search warrants across the country.The simultaneous raids Wednesday morning in West Vancouver, Calgary and the GTA were all related to the Panamanian law firm Mossack Fonseca, whose internal files were leaked to the German newspaper Suddeutsche Zeitung and shared with journalists around the world, including the Toronto Star and CBC/Radio-Canada.In 2016 and 2017, thousands of reports were published based on the leak, dubbed the Panama Papers, laying bare the inner workings of the offshore tax evasion industry, which has orchestrated the movement of trillions of dollars out of the reach of tax authorities around the world.The Star and CBC found more than 300 Canadian passports in Mossack Fonseca’s files, and identified Canada’s biggest offshore clearing houses, which used the Panamanian law firm to set up thousands of offshore shell companies on behalf of their clients. While the Canada Revenue Agency has been auditing 122 Canadians found in the leak and says it has executed a number of search warrants previously, this is the first time that such a major investigative milestone has been publicized as it happened.CRA officials wouldn’t divulge the addresses raided or what kinds of documents or computer devices were seized, but did say they that 30 criminal investigators from the CRA as well as members of local police took part.“The CRA’s investigation identified a series of transactions involving foreign corporations and several transfers through offshore bank accounts used allegedly to evade taxes,” states a press release put out Wednesday.Investigators collaborated with foreign tax agents and Canada’s money-laundering watchdog Fintrac to prepare the search warrants, the statement said.Last year, CRA assistant commissioner Ted Gallivan told the Star his priority was going after law ...


 
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