Thursday, May 6, 2021

IDENTIFY THOSE WITH OFFSHORE TAX SHELTERS

 Five years ago, tax law expert AndrĂ© Lareau was blocked from giving testimony before the House of Commons finance committee by a last-minute gag order preventing witnesses from talking about a prominent accounting firm's tax avoidance scheme.

Now, he has a message for the members of Parliament who are today rebooting their probe into offshore companies registered in the Isle of Man: if they're serious this time, they should subpoena the Canadian accountants who helped to set up the offshore tax dodge — and demand that they give up the names of the wealthy Canadians whose identities they've been protecting.

CBC's the Fifth Estate and Radio-Canada's Enquete reported earlier this year that shell companies set up in the Isle of Man are suspected of involvement in a massive fraud that cost investors their life savings. Some experts believe KPMG may have had a hand in creating those companies.

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