Offshore financial structures

Offshore financial structures – Canada Revenue Agency – Statement

Offshore financial structures
Call us at 877-542-2130

In the wake of renewed media attention concerning offshore financial structures, the Canada Revenue Agency (CRA) has delivered the following statement to inform Canadians on the work and progress being made to combat tax evasion and tax avoidance. The CRA is also taking the opportunity to highlight the important work Canada is doing on the world stage through increased cooperation and collaboration with its international partners to better combat those hiding their assets offshore.

The Government understands that tax evasion and tax avoidance are multi-billion-dollar issues, and it has made a billion-dollar investment to tackle it. Almost two-thirds of the CRA’s audit fiscal impact of $25 billion over the last two years was from audits of international, large business and aggressive tax planning activities. The CRA currently has more than 990 audits and more than 42 criminal investigations related to offshore underway.

This investment has signaled to Canadians that the CRA continues to expand the tools it has to better ensure the integrity of the tax system so that no one avoids paying their part to support the services and quality of life Canadians expect.

The CRA is ensuring that those who choose to break the law face the consequences and are held accountable, starting with tax professionals who facilitate non-compliance – the CRA levied more than $44 million in third-party penalties on tax advisors last year and there are presently a number of criminal cases under way. The Agency has a full-time dedicated unit focused on offshore non-compliance and we are reviewing money transfers over $10,000 between Canada and four offshore jurisdictions such as the Isle of Man. In addition, the CRA is risk-assessing 100% of large multinational corporations, analyzing the tax affairs of risky high-net worth taxpayers, and working with credible paid informants.

If you would like to discuss a offshore financial structures with us, please call us 877-542-2130 or fill in the form

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Expert Fiscaliste has moved

1000 de La Gauchetière Ouest
24e étage,
Montréal QC H3B 4W5

Expert Fiscaliste has moved to better serve our clients and now the building is directly connected to the Bonaventure metro station (line 2 – Orange). From inside the station, simply follow the indications leading you to Le 1000

Expert Fiscaliste
24th Floor

The building is served by STM bus routes 36 Monk (on Saint-Jacques St. going East, on Saint-Antoine St. going West) and 107 Verdun (on Peel St.). We are also directly connected to the AMT’s Terminus Centre-ville, the downtown bus terminal for many suburban bus lines serving the Montréal South Shore.


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