Mann: New Twist In CBC Tax ‘Expose’

NEWS FROM THE CELTIC LEAGUE

The CBC Story about alleged tax evasion via the Isle of Man which we reported on last week is starting to ‘grow legs’.

Although the revelations focused on one family’s finances Canadian Revenue Authorities (CRA) believe such ‘tax planning’ may be more widespread.

In a new twist a tax litigation firm in Montreal Canada’s second largest city is advising anyone using ‘shell companies’ to avoid tax liabilities that they (as they put it) could walk away ‘relatively unscathed’.

The firm say;

“We believe, however, that at this point, a taxpayer who may have benefited from such a scheme and hasn’t yet been identified by the authorities could easily walk away from this relatively unscathed, by taking advantage of the CRA’s and Revenu Québec’s voluntary disclosure programs.

Through a voluntary disclosure, a taxpayer can (even anonymously if done by a tax lawyer or accountant) negotiate a settlement, wiping the past clean whilst avoiding penalties and/or criminal accusations.”

However they caution:

“But Careful! A voluntary disclosure must be done before the authorities ‘have you on their radar’.

Looks as if this CBC ‘exposé’ could have more twists and turns yet!

Meanwhile Manx authorities are still tight-lipped over the CBC programmes.

Related link here:

https://www.celticleague.net/…/mann-government-pressed-on-…/

BERNARD MOFFATT

Issued by: The Celtic News

14/09/15

THE CELTIC LEAGUE INFORMATION SERVICE.

The Celtic League established in 1961 has branches in the six Celtic Countries. It promotes cooperation between the countries and campaigns on a range of political, cultural and environmental matters. It highlights human rights abuse, military activity and socio-economic issues

http://celticleague.net

 

Mannin Branch Celtic League's photo.

 

 

 

Disclaimer: 
This blog is provided for general informational purposes only. The opinions expressed here are the author's alone and not necessarily those of Transceltic.com.