Jeff Bezos isn't just the owner of Amazon. He also owns the Washington Post, he's worth $50 billion, he even advises the Pentagon. But according to the IRS he owes $1.5 billion in unpaid taxes.
Canadians for Tax Fairness
Canadians for Fair Taxation promotes a progressive tax system, based on ability to pay, to fund the public services and programs required to meet our social, economic and environmental needs.
Cameco is a multi-billion dollar Canadian company. They mine Canadian uranium. But they only pay 10% corporate taxes in Zug, Switzerland. Sign the petition and demand Cameco pay up.
Of all Canada's government departments, the Canada Revenue Agency has been the absolute worst at deleting records -- far after the time it is is supposed to dispose of records by law.
It turns out the CRA pays rent to a serial tax haven user for offices in Edmonton, Montreal and Calgary. Larco Investments hates taxes but loves the $74.3 million it gets from the feds in rent.
In the span of a single year, CAD $40 billion flowed to the top 10 tax havens –- an all-time high. Tax havens now hold at least $270 billion of Canadian corporate money, mostly untaxed.
An anonymous source, 11 million leaked documents, and a year-long investigation effort by 400 journalists in over 80 countries have yielded the Panama Papers, an unprecedented look at tax havens.
The Liberal government has caved on the campaign promise to close the stock option loophole. Too bad, because it costs Canada $1 billion a year and Canadians definitely don't get their money's worth.
Their bosses didn't listen when CRA staff argued that they should pursue a criminal investigation or at least impose large penalties on KPMG clients caught using an offshore tax-avoidance scheme.
We've let the principles of fair taxation slide. Tax-dodging has become commonplace because of staff cuts and under-capacity at the CRA and not taking serious action to counter tax havens.
It is estimated that there is $199 billion of Canadian money offshore. It is likely much higher. That translates into at least $8 billion of lost tax revenue each and every year.