Feigenbaum Law

Panama Papers

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Corporate Tax Planning

CRA Continuing Investigations into Canadians Linked to Panama Papers and Paradise Papers

We have previously blogged about the Canada Revenue Agency’s (CRA’s) increased crackdowns on the use of offshore tax shelters. Previously, the CRA was focused primarily on Canadian taxpayers who had been implicated in the Panama Papers leak, including search warrants executed as a result of the leak as well as the first Canadian investigated as a result of the now infamous leak of financial information. Now, Canadian news sources are reporting that the… Read More

Close up of palm fronds

Corporate Tax Planning

CRA Investigates First Canadian Mentioned in the Panama Papers

A Calgary businessman who is alleged to have evaded tax on more than $2.7 million in payments that were routed through the Cayman Islands is reportedly the first Canadian known to part of the Canada Revenue Agency’s (CRA) criminal investigations into the Panama Papers.  While Revenue Minister Diane Lebouthillier has noted that the CRA has been conducting criminal investigations based on the Panama Papers leak, this is the first time that a… Read More

Personal Tax Planning

Corporate Tax Planning

Canada Revenue Agency Conducts Raids in Panama Papers Investigation

Earlier this week, the Canada Revenue Agency (CRA) announced that it has executed three search warrants stemming from their investigation into offshore tax evasion made public in the Panama Papers. The Investigation This investigation is one of 42 international or offshore tax evasion cases that the CRA is currently investigating. The CRA is particularly focused on sophisticated and well-organized tax evasion schemes. Yesterday, approximately 30 CRA officers, assisted by the RCMP and… Read More