Mr. Speaker, I appreciate the opportunity to set the record straight.
We have made investments of over $1 billion to give the Canada Revenue Agency the resources needed to crack down on tax evasion and aggressive tax avoidance.
On the Panama papers specifically, the CRA has identified over 3,000 offshore entities with over 2,600 beneficial owners that have some link to Canada, of which the CRA has risk assessed over 80%. I can confirm that there are several criminal investigations under way regarding the Panama papers which, as my colleague knows, can be complex and require months or years to complete.