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CRA's Secret Amnesty Deal for KPMG Clients in Isle of Man Offshore Tax Scheme: Dirty Politics or Smart Tax Collection?

March 10, 2016

Paul DioGuardi featured in National Post comment article.

On March 9, 2016, the CBC broke a story about the Canada Revenue Agency's secret tax amensty deal offered to multi-millionaire clients of KPMG who particiated in an offshore tax avoidance scheme by holding unreported bank accounts in the Isle of Man. KPMG is still under investigation for the scheme, and the names of the clients with offshore accounts are known to the Canada Revenue Agency. Normally, foreknowledge by the CRA of your failure to report income disqualifies you from the protection of a tax amnesty. In this case, it appears that the CRA has 

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Is that CRA call legitimate?

Yesterday we received an email from a taxpayer who had been out of Canada for two months. He said he came home to two messages from the Canada Revenue Agency on his voicemail. The messages advised that CRA had issued a warrant for his arrest, and he was required to call a toll-free number immediately. What should he do, he asked us.

Thousands of people across Canada are receiving these frightening calls every day. But the calls are phony. They are not from the Canada Revenue Agency. They are from scammers, who likely are not even in Canada, who are using scare tactics to extort money from unsuspecting taxpayers. It is not known how these scammer are sourcing your personal phone number, or how they decide who to target. Our experience suggests, however, that the people targetted often have a small tax balance owing, or have not filed a tax return for a year or two.

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Words to live by?

 

 

Income tax returns are the most imaginative fiction being written today.

Comment posted on CBC.ca Business News page April 30, 2012 - TAXFILING DAY

http://www.cbc.ca/news/business/taxseason/story/2012/04/24/f-taxseason-tax-evasion-penalties.html

34 likes. 14 dislikes. The likes have it.