Mann: New Twist In CBC Tax ‘Expose’

NEWS FROM THE CELTIC LEAGUE

The CBC Story about alleged tax evasion via the Isle of Man which we reported on last week is starting to ‘grow legs’.

Although the revelations focused on one family’s finances Canadian Revenue Authorities (CRA) believe such ‘tax planning’ may be more widespread.

In a new twist a tax litigation firm in Montreal Canada’s second largest city is advising anyone using ‘shell companies’ to avoid tax liabilities that they (as they put it) could walk away ‘relatively unscathed’.

The firm say;

“We believe, however, that at this point, a taxpayer who may have benefited from such a scheme and hasn’t yet been identified by the authorities could easily walk away from this relatively unscathed, by taking advantage of the CRA’s and Revenu Québec’s voluntary disclosure programs.

Through a voluntary disclosure, a taxpayer can (even anonymously if done by a tax lawyer or accountant) negotiate a settlement, wiping the past clean whilst avoiding penalties and/or criminal accusations.”

However they caution:

“But Careful! A voluntary disclosure must be done before the authorities ‘have you on their radar’.

Looks as if this CBC ‘exposé’ could have more twists and turns yet!

Meanwhile Manx authorities are still tight-lipped over the CBC programmes.

Related link here:

https://www.celticleague.net/…/mann-government-pressed-on-…/

BERNARD MOFFATT

Issued by: The Celtic News

14/09/15

THE CELTIC LEAGUE INFORMATION SERVICE.

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