Thank you, Mr. Chair.
My first question is this.
When taxpayers make a mistake on their income tax return, they are set straight by the Canada Revenue Agency and fines apply. However, when there are significant mechanisms like the ones we have talked about, they are often asked to repatriate the money and are not fined.
I would like to know where the limit or the bar is for this. Why should Canadians have to pay fines when people who placed money outside the country are asked to repatriate the money and are not fined? After they were caught or risked getting caught, they simply pay the tax they would have otherwise paid. Where is the limit on this? Why is there a distinction like this?
Prof. Lareau and Prof. Cockfield, I invite you to answer the question.