Good afternoon, ladies and gentlemen.
Like our chair, I am very interested in tax havens and in a host of issues which the Canada Revenue Agency is attempting to deal with. I remain astounded however by the scope of this problem.
According to your estimations, Canadian corporations conducted $1.5 trillion in transactions with related parties in foreign countries. It seems like a high figure to me.
The former Prime Minister of Canada had ships that were registered first in Liberia and then in Barbados. Is Barbados the only tax haven? Are there others?
You also said that there are 72 problems relating to trusts in Barbados. A few years ago, people were shocked to see a television report that showed a rather plain office which was being used as a company's headquarters. Clearly, it was being used for tax avoidance purposes.
This problem is only going to get worse because of globalization. First off, is Barbados the only place where there is tax evasion, or does it occur elsewhere? Apparently, some people hold bank accounts in Switzerland and in other countries throughout the world. I would like to know how we can measure the scope of this problem.
You said that last year non-residents paid over $4.9 billion in taxes on income earned. Has there been any progress? Compared with last year, did non-residents pay more or less?