Good morning, everyone. Thank you, Mr. Wiebe, for coming before us.
I did serve on the CICA user advisory council for a number of years. I don't know if that makes it better or worse, but I did. I can honestly say that, if you are a good tax lawyer or tax planner, you are obviously going to be sought after in today's world that we live in.
Nonetheless, the issue I have, and I think the issue a lot of Canadians have, is that we want to make sure that our tax system gives the confidence to all Canadians that it is transparent, that everybody is paying their fair share, and that honest Canadians are not subsidizing those who have the means or the wherewithal to implement tax measures or tax planning that raises red flags. From my conjecture, reading about this Isle of Man FSC structure obviously raised a number of red flags. I think the estimates worldwide are literally in the tens of trillions of dollars that individuals have put into tax havens—if I can use that term—in tax avoidance structures, and potentially, hypothetically, even tax evasion structures.
In Canada, I think in a prior report done by a prior committee, the potential tax gap is literally in the billions of dollars, which could be going to fund programs that Canadians need and that would make our economy stronger. It is obviously with some disappointment that we are sitting here today. Nonetheless, we are a committee, and we need to ask some questions.
You alluded, in your comments, to the negotiated settlement agreements. I take it that, over your long career, you have probably partaken in a few with your clients. I would like to stick to this for a little bit. Is it a more common practice to enter into an NSA rather than go to the courts, due to the length of time involved in the court system?