Trudeau wants global action after Panama Papers Scandal
Posted April 6, 2016 10:47 am.
Last Updated April 6, 2016 12:40 pm.
This article is more than 5 years old.
MONTREAL, QUE. (NEWS 1130) – The Panama Papers Scandal is prompting Prime Minister Justin Trudeau to call for global action to crackdown on tax evasion.
Millions of documents from a Panamanian law firm were leaked this week, exposing the use of offshore tax havens by celebrities, the elite and world leaders.
The scandal has grabbed headlines around the globe, and Trudeau says the international community needs to work together to make global finance more transparent and prevent the sort of inequality highlighted by the Panama Papers.
“Something that indeed needs to be engaged in a broad perspective and not just any one country do it because people will hop around and chase jurisdictions.”
“I think one of the things the vast majority of Canadians feel is that it’s important that everyone pays their fair share of taxes. And what we’ve seen, with the release of the Panama Papers, is that there are certain, very wealthy individuals who’ve managed to find work-arounds and avoid having to pay their fair share of taxes — not just in Canada, but around the world.” Trudeau adds.
The Canada Revenue Agency has been ordered to cross reference the data with tax information already on record, to make sure Canadians haven’t been evading their taxes.
The Royal Bank is the only Canadian bank linked in the papers, and its CEO says the bank operates legally but staff are now reviewing 40 years worth of files to determine if any wrongdoing took place.
