Mr. Speaker, with regard to (a) the CRA does not have information relating to the amount of money that has been hidden in offshore jurisdictions of concern by Canadian individuals and corporations. The CRA can, however, confirm that since 2006, it has conducted nearly 8,000 compliance actions and reassessed in excess of $4.5 billion in unpaid federal taxes through the aggressive international tax planning efforts.
With regard to (b), tax evasion and avoidance involving the abusive use of tax havens are major concerns for countries. By their very nature, tax evasion and tax avoidance are difficult to quantify, since they involve people or entities hiding money from the government. Accordingly, the CRA focuses its efforts in identifying and auditing abusive tax schemes and arrangements that use offshore jurisdictions to hide income. Knowing the methods people or entities are using enables the CRA to develop the tools to identify and combat aggressive tax planning, use of offshore jurisdictions or tax evasion by both Canadian individuals and corporations.
The money being hidden in overseas tax havens pertains to revenue that select taxpayers are not reporting or disclosing to the CRA. As this is revenue that is not being disclosed, the CRA cannot provide an accurate estimate. The Organisation for Economic Co-operation and Development (OECD) and most OECD member nations have stated that there is no recognized or reliable methodology for such measurement.
For these reasons, the CRA therefore cannot provide the information in the manner requested.
With respect to (c), as mentioned in the response to part (b), the CRA does not have estimates of the lost tax revenue through the use of overseas tax havens that perhaps has not been declared by individuals or corporations. Due to the reasons stated above, the CRA therefore cannot provide the information in the manner requested.