Topic: paradise papers

Wealthy Canadians hiding up to $240B abroad, CRA says

Well-heeled Canadians have hidden up to $240.5 billion in foreign accounts and are dodging up to $3 billion a year in federal tax on those funds, according to the CRA's first ever attempt to estimate how much government revenue is lost from individuals stashing money abroad.

U.S. Commerce Secretary Wilbur Ross denies any wrongdoing in shorting stock

Commerce Secretary Wilbur Ross made a trade betting that the stock in a shipping company with Russian-government ties would fall, a transaction coming just days after he learned of a possible negative news story about his investment in the company.

CRA raids locations in Toronto, Calgary and West Vancouver in Panama Papers probe

Canada Revenue Agency officers backed up by police raid locations in three provinces as part of a criminal tax-evasion probe stemming from the Panama Papers — a sign the taxman may be preparing criminal charges against people hiding money offshore.

$500M recouped worldwide from tax cheats due to Panama Papers — but none of it in Canada

Governments around the world say they've recovered a combined $500 million in unpaid taxes thanks to the Panama Papers leak in 2016. But none of that was in Canada, where the CRA says it will be at least 2½ more years before it can announce anything.

Millions of Canadians have pension money offshore — without knowing it

Seven of the country's so-called Big 8 pension funds, representing more than 25 million workers, have used tax havens as they invest Canadians' retirement savings, a CBC investigation reveals.

Most CRA convictions cited by government are not for offshore tax evasion

Few, if any, of the court cases that Prime Minister Justin Trudeau’s government has cited in Parliament to defend its record on cracking down on offshore tax evasion have anything to do with millionaires hiding money in offshore tax havens, a review by CBC News has found.

Senator calls on budget watchdog to take CRA to court to reveal tax gap information

A Liberal senator is renewing his calls for the government’s budget watchdog to flex his legislative muscles and take the Canada Revenue Agency to court to reveal how much money is lost to tax avoidance.

Doubts cast on Canadian citizenship of Mulroney's billionaire friend

A wealthy Syrian-British investor who Brian Mulroney calls a "close friend," and who parked much of his fortune offshore, obtained Canadian citizenship under unclear circumstances in the 1990s, a Radio-Canada/Toronto Star investigation has found.

New Mulroney Institute is bankrolled by billionaires steeped in scandal

A new $60-million university institute in Nova Scotia celebrating former prime minister Brian Mulroney got a good chunk of that financing from donors embroiled in international controversy, a joint investigation by CBC/Radio-Canada and the Toronto Star has found.
CBC Investigates

Chief Liberal Party fundraiser tied to $8M loan to offshore trust in Cayman Islands

Newly discovered documents from the Paradise Papers show the Liberal Party’s top fundraiser, Stephen Bronfman, was directly linked to companies that were owed millions by an offshore Cayman Islands trust well into the 2000s — despite his strong denials he had any involvement in the trust after 1998.
CBC Investigates

Thousands more names and companies revealed from Paradise Papers

The public will get a glimpse at the tens of thousands of names — including those of more than 3,000 Canadians and Canadian companies — in the Paradise Papers starting today.

Why getting rich is better for the world than staying rich: Don Pittis

Capitalism works best when it taps the efforts of poor people to make themselves rich. Helping the very wealthy maintain their advantage should not be democracy's job.

Harvey Weinstein's 'Army of Spies'; Paradise Papers; StubHub (The Investigators with Diana Swain)

Diana talks to a reporter who may have been targeted by Hollywood executive Harvey Weinstein for reporting on allegations of sexual assault against him. Also, a behind-the-scenes look at the Paradise Papers. Watch The Investigators Saturdays at 9:30 pm ET and Sundays at 5:30 pm ET on CBC News Network.

Ticket scalper makes millions through StubHub scheme (The Investigators with Diana Swain)

Ticket scalper makes millions through StubHub scheme: CBC News investigative producer Rachel Houlihan talk about Julien Lavallee, a Quebec man who's made millions selling tickets through StubHub, and whose name was found in the Paradise Papers. Watch The Investigators Saturdays at 9:30 pm ET and Sundays at 5:30 pm ET on CBC News Network.

Paradise Papers force data journalists to work in secret (The Investigators with Diana Swain)

Paradise Papers force data journalists to work in secret: CBC News journalists Zach Dubinsky and Valérie Ouellet talk about their work on the Paradise Papers leaks, and how they found stories in the millions of documents. Watch The Investigators Saturdays at 9:30 pm ET and Sundays at 5:30 pm ET on CBC News Network.

Paradise Papers reveal world's biggest ticket scalper is Canadian

The Paradise Papers latest revelation reveals the world's biggest ticket scalper comes from Canada. He's running a multi-national operation, moves millions of dollars each year, and might be making it harder for you to grab that elusive event ticket

Justin Trudeau defends fundraiser's named in Paradise Papers | At Issue

Justin Trudeau been on the defensive in recent weeks, forced first to defend his finance minister, Bill Morneau, and now prominent Liberal fundraiser Stephen Bronfman, who has faced questions after being named in the Paradise Papers. The At Issue panel breaks down how Stephen Bronfman and Bill Moreneau's financial controversies could impact the government's policies
CBC Investigates

StubHub raid in U.K. targets 'top sellers,' including Canada's known superscalper Julien Lavallée

Canadian superscalper Julien Lavallée is caught up in two separate investigations in the U.K. targeting the online ticket scalping industry.
CBC Investigates

Canadian scalper's multimillion-dollar StubHub scheme exposed in Paradise Papers

A CBC/Radio-Canada investigation done jointly with the Toronto Star has revealed how a Canadian scalper has been able to vacuum up thousands of tickets to some of the highest-grossing concert tours and shows in a matter of minutes and resell them at a premium with the help of the ticket website StubHub.
CBC Investigates

Tax-haven lobbyist held private meetings and got advice from top federal officials, Paradise Papers reveal

Senior Canadian bureaucrats held private meetings with a lobbyist for the interests of the world's tax havens, even providing talking points that went against Canada's official stance on corporate transparency, according to records in the Paradise Papers.
CBC Investigates

BMO ran $288M 'abusive' tax dodge: CRA

The Bank of Montreal ran an "abusive" tax avoidance scheme and inflated its losses by $288 million using foreign shell companies, deliberately thwarting Canada's tax laws, the federal government alleges.
CBC Investigates

BMO's offshore dealings detailed in Paradise Papers leak

The Paradise Papers leak has provided an unprecedented look at the offshore manoeuvrings of a big Canadian bank, including what senior BMO executives fretted about behind closed doors as they ran a subsidiary based in a tax haven.

Prince Charles' link to the Paradise Papers

Prince Charles is being criticized after the Paradise Papers revealed a link to a questionable investment. The leaked documents show he owned shares in and championed a company specializing in carbon offsets, before cashing out a year later
Paradise Papers

Prince Charles's private estate appears to triple offshore investment in just over a year

Leaked documents show that in just one buy-and-sell transaction, the Prince of Wales's private estate appears in just over a year to have tripled an estimated $100,000 US investment in an offshore company co-run by one of his closest friends.
Paradise Papers

Prominent Republican, Democrat party donors connected to offshore holdings, Paradise Papers show

A leak of offshore records provides a glimpse into the finances of Republican and Democratic contributors – including a banking magnate who quietly held an ownership stake in an embattled payday lender.

Apple stashed profits in new tax havens after Irish scheme drew scrutiny

After coming under fire for stashing billions in profits in Ireland's low-tax jurisdiction, Apple set up other tax-reducing subsidiaries, including one in the British island of Jersey.
CBC Investigates

Paul Martin's former company one of offshore firm's 'largest clients,' Paradise Papers show

The Paradise Papers leak shows a bigger chunk of former prime minister Paul Martin's financial legacy has been routed through offshore jurisdictions than was previously known.
CBC Investigates

CRA not tracking billions in potential taxes lost each year

It's no secret that many wealthy Canadians are squirrelling away fortunes offshore to avoid — or even evade — taxes. What is secret is just how much money it's costing fellow Canadians and the national treasury each year.
CBC Investigates

Stephen Bronfman denies link to offshore trust, but documents show it helped expand family business

Liberal fundraiser Stephen Bronfman, under fire for his ties to an offshore trust in the Cayman Islands exposed in the Paradise Papers, insisted Monday that he "has never funded nor used offshore trusts." But documents point to close business ties between his investment company Claridge and the Cayman Islands-based Kolber Trust.

Paradise Papers

David Kerzner, tax lawyer with Kerzner Law, on the latest big release of tax-haven records
Paradise Papers

Nike shifted billions in profits from Europe to tax-free Bermuda, Paradise Papers leak shows

Leaked files from the global law firm Appleby show how the global sportswear giant Nike was able to divert billions of dollars in profits earned in Europe to the tax-free jurisdiction of Bermuda with the help of authorities in the Netherlands, its European headquarters.
Paradise Papers

Helping rich avoid taxes on luxury jets and yachts is its own subspecialty in offshore tax havens

Everyone from a Formula One driver to a Saudi prince and U.S. President Donald Trump has benefited from a little-known subspecialty of the offshore tax world: registering their luxury jets and yachts in tax havens such as Bermuda or the Isle of Man to avoid paying millions of dollars in taxes.
CBC Investigates

Ex-PM Chrétien lobbied for African oil company he didn't know was based in tax haven, he says

A new leak of tax-haven records shows a number of Canadians have been involved in a sometimes dodgy, potentially massive oil venture in East Africa — including former prime minister Jean Chrétien.
CBC Investigates

More than 3,000 Canadian names in the Paradise Papers

A supermarket giant, an NHL hockey team, several billionaires and a yacht captain. These are just a few of the roughly 3,300 Canadian companies, trusts, foundations and individuals whose names appear in the massive international leak of offshore records.

Trudeau’s chief fundraiser tied to multimillion-dollar offshore trust: Paradise Papers

Prime Minister Justin Trudeau’s chief fundraiser for the Liberal Party, Stephen Bronfman, is tied to a multimillion-dollar offshore trust in the Cayman Islands that may have cost Canadians millions in unpaid taxes.

Paradise Papers: What the offshore data leak reveals about global elite

The paradise papers are a global data leak of secret documents that reveal how millions of dollars are being hidden offshore in dubious tax dodges by the world’s elite

Queen Elizabeth’s offshore investments surface in Paradise Papers

Queen Elizabeth’s private estate has millions of pounds invested in a Cayman Islands fund that that has never been disclosed. Buckingham Palace says the Queen knew nothing about the fund until the Paradise Papers leak.

What the Paradise Papers reveal about Trump’s inner circle, Russia connections

The Paradise Papers reveal offshore ties of more than a dozen people in U.S. President Donald Trump’s inner circle, including financial connections between wealthy Russians and Wilbur Ross, Trump’s commerce secretary

Tax havens: How they work and why they are a problem

Tax havens and offshore accounts and trusts are used by the world's wealthiest to legally avoid paying taxes. Here's how they work and why they are a problem
Paradise Papers

Queen's estate 'not aware' it held indirect offshore investment in stores accused of exploiting poor

Leaked documents from offshore law firm Appleby show that the Queen — through investments made by the monarch’s private estate, the Duchy of Lancaster — has held stakes in funds that operate in tax-free havens.
Paradise Papers

Huge offshore data leak reveals financial secrets of global elite — from the Queen to former PMs

An enormous new leak of tax-haven financial records dubbed the Paradise Papers is laying bare financial secrets of the world's elite — including Prime Minister Justin Trudeau's chief fundraiser, three former Canadian prime ministers and more than 120 other politicians across the globe.
CBC Investigates

Trudeau's chief fundraiser linked to Cayman Islands tax scheme

A massive leak of data from an offshore law firm has revealed that Stephen Bronfman and his Montreal-based investment company were key players linked to a $60-million US offshore trust in the Cayman Islands that may have cost Canadians millions of dollars in unpaid taxes.
Paradise Papers

U.S. Commerce Secretary Wilbur Ross benefited from ties to Putin's inner circle, offshore tax leak shows

U.S. Commerce Secretary Wilbur L. Ross Jr. has a stake in a shipping firm that receives millions of dollars a year in revenue from a company whose key owners include Russian President Vladimir Putin's son-in-law and a Russian tycoon who faced sanctions by the U.S., newly leaked documents show.
CBC Investigates

Billionaires' law firm helped wage 'Kill Bill' campaign to block offshore tax legislation

A Montreal law firm representing clients closely connected to the federal Liberal Party was a leading player in a campaign a decade ago to block offshore tax legislation, a CBC News/Toronto Star investigation has found.

What's in the Paradise Papers database of tax haven records and how to search it

A public database containing a slice of key data from the giant Paradise Papers leak, as well as older records from the Panama Papers, is now public. Here's what you will and won't find, and how to search it.