Huge tax evasion scheme undergoing German investigation

In a recent investigation concerning serious tax evasion and money laundering connected to “dividend stripping”, German prosecutors searched the offices and residences of clients linked to the Canadian “Maple Bank”.

CRA: Respected Accounting Firm deceived tax authorities

A wealthy Canadian family paid virtually no tax over a span of eight years, as they even obtained provincial and federal tax credits, while being involved in an offshore tax scam that was developed by one of the most respected accounting firms in Canada, as the CRA (Canada Revenue Agency) stated.

The Supreme Court of Canada has dismissed the appeal of a case concerning a taxpayer, ruling that the tax advisor penalty in section 163 of the Income Tax Act is administrative in nature and therefore does not constitute a crime.