The Canada Revenue Agency (CRA) has carried out three search warrants this week (14 February 2018), during the course of an offshore tax evasion criminal investigation related to the data leak from the Panamanian law firm Mossack Fonseca.
Approximately 30 CRA criminal investigators, assisted by members of the Royal Canadian Mounted Police (RCMP) and the West Vancouver Police, took part in the operation that unfolded in Calgary, West Vancouver and the Greater Toronto Area, searching for evidence with respect to the commission of offences against Canada's Income Tax Act and the Excise Tax Act.
The CRA’s investigation identified a series of transactions involving foreign corporations and several transfers through offshore bank accounts used allegedly to evade taxes.
This investigation is one of the 42 international/offshore tax evasion cases that CRA is currently investigating which involve complex structures and potentially multi-million dollars in taxes evaded and the agency is pursuing additional criminal investigations relating to the Panama Papers data leak.
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