It started 10 years ago when a German journalist received a message from an anonymous sender: “Hello. This is John Doe. Is there any interest in data?”
What followed a leak of more than 11 million files by a Panamaic law firm in the days and months afterwards – the leak that became known as Panama Papers when it was Unveiled in April 2016 in the world.
The confidential documents revealed hidden bank accounts, billions of dollars of shady flows and the real owners behind thousands of offshore -shell companies that are based in tax havens such as the British Virgin Islands, the Bahamas and Panama themselves. The leak also attracted the attention of the world’s tax authorities and was aware that there is often unpaid tax where there is hidden money.
Now, almost exactly nine years after the first public reports on the Panama papers, two dozen of these national tax authorities stated that, based on information in the leak, they collected tax residues and fines of $ 1.86 billion.
However, the Canada Revenue Agency (CRA) is not one of them. While it is Latest numbers Show that in Panama Papers that are connected by Panama papers, it has evaluated taxes and punishments of $ 83 million and says that, unlike many other jurisdiction, it does not pursue how much of it was actually recorded.
The complete global tax effects of the Panama papers are probably much higher, since the tax authorities of many countries would not reveal a precise number, while some others like the CRA could only say how much they found that they are owed and how much they actually repeated.
The balance was compiled by the international consortium of investigative journalists, the organization based in Washington, which coordinated the original reporting on the Panama articles of 100 global media, including CBC News.
The Swedish tax authority informed the reporters that it had rejected more than 300 million US dollars of missing taxes since 2021. France has brought in 297 million US dollars, while tax surveys in Spain managed to regain 250 million US dollars from previously non -declared assets and income.
Cra audits still in progress
In Canada, Bundesmakler has completed 310 audits in people and companies called in the Panama Papers, says the Cra. More than 130 files are examined – nine years after the leak.
“It can take a few years for these audits to be completed, since a considerable number of taxpayers have used a variety of delay tactics or refused to hand over requested information, whereby the CRA has to use other tools to get it,” said the CRA in an explanation to La Press and CBC News. “Some also contested the agency in court, which has led to exams that are both time -consuming and complex.”
Remarkably, the agency has not submitted any charges for the control of penalty tax in relation to the Panama papers. It is said that six criminal investigations started. Three were closed without indictment and three more have not yet been completed.
“If it is possibly three law enforcement measures all over Canada – like three – it is somehow pathetic,” said Jonathan Farrar, professor of tax balance at Wilfrid Laurier University in Waterloo.
In general, CRA has followed criminal matters less often in recent years. In 33 cases in the 2019-20 financial year, a criminal complaint was submitted in 33 cases and in 2022-23 to 28 cases and only seven in 2023-24 to 28 cases. While the agency carried out search commands in 2019-20 196, the number fell last year in 2022-23 and 59 to 26.
“Instead of sending a warning message or a shot on the bow that the Cra is serious to do these obvious cases of outrageous tax avoidance, the message seems to be instead:” Well, you can try to do everything you want and you will probably get away with something, “said Farrar.
Rated more than 40 million US dollars in Quebec
According to Revenu Québec, the Panama papers led to the discovery of unpaid taxes in Panama last autumn. At least 30 million US dollars were collected, but the exact amount cannot be determined from the numbers that Revenu Québec has provided.
Both the Cra- and Revenu Québec state that they have also discovered taxes due to information in another large leak of tax haven data that Paradiseemerged in November 2017.
The CRA stated that taxes and penalties of 6.8 million US dollars to be assessed as a result of the Paradise papers, while the number of Revenu Québec was 16.1 million dollars.
