June 2nd, 2021
REALITY CHECK: Liberals cut off CRA audits for offshore tax evasion
In the midst of a pandemic, billionaires have increased their wealth while workers and Small businesses are working hard to make ends meet. In fact, five years after Panama's Papers and Paradise Papers scandal, no criminal convictions have been announced to date.
At one time, Justin Trudeau had nice words for tackling tax evasion by big business and the wealthy: “With respect to offshore tax evasion, the CRA has more than doubled the number of completed offshore audits since we have taken office." -Hansard, November 20, 2018.
Recent news has contradicted these nice words. In fact, it points to the contrary - that Justin Trudeau continues to protect profits of the richest:
- Between 2016 and 2020, CRA cut the number of audits of large companies and wealthiest Canadians by over 30% -National Post, May 13, 2021.
- Of the 22,283 audits of large companies and wealthiest individuals, there have been 0 criminal convictions to date.
Liberals continue to help their rich friends who hide their wealth in tax havens while Canadians, and our public services, suffer.
Canadians deserve better.