The Canada Revenue Agency should apply the sometimes controversial General Tax Avoidance Rule in a bid to curb the use of offshore tax havens to avoid Canadian taxes, Parliament?s finance committee recommended Wednesday.
In a report tabled in the House of Commons following weeks of hearings into the use of offshore tax havens that stretched over two parliaments, the committee called on the government to continue to shut down loopholes being used to avoid taxes. It also wants the federal government to give the CRA more powers to obtain business identification information ? including the power to withhold certain refunds until the information is provided.
The committee, headed by Conservative MP James Rajotte, also urged the federal government to force companies like banks, that [...]
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Source: http://www.ipolitics.ca/2013/05/01/close-offshore-tax-loopholes-says-finance-committee/
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