Finance committee  In my opinion, the European information exchange model is extremely effective. The reason it works is that it covers every country in the European Union, which is not the case in North America, where there are only two countries—Canada and the United States—which are not part of

Finance committee  It is still only a draft.

Finance committee  You're talking about mandatory returns. In fact, I can say that I personally helped to convinced the Quebec and Canadian governments to establish a system of mandatory returns even though the corporations that now have to comply with it may not like it.

Finance committee  The best way to do that would be to give you an example. In the United States—and this is not the case in Canada—it is quite routine to introduce what is called a sunset clause in new legislation.

Finance committee  I know, but that doesn't strike me as a very good translation.

Finance committee  In my opinion, it's one of the best tax policy instruments developed by the Americans.

Finance committee  We should use it consistently in Canada.

Finance committee  Yes. After five years, if there is no evidence that the legislation has really worked, you get rid of it. You “flush” it, as we say in proper French.

Finance committee  That is already on the reporting form.

Finance committee  Nobody cares.

Finance committee  Personally, I have never answered “yes“ because it's true.

Finance committee  It's true that I don't have any. You have to answer “yes” if you have some. But the question is not asked the other way around. That's true; you're right. That is also what I read. I got the feeling from CRA officials that most people consider it to be optional—like just checki

Finance committee  I understand your question.

Finance committee  Yes, I read your mind. Great Britain has an interesting policy in place that you might find appropriate. It is called the “name and shame” principle. You identify the people who engage in tax evasion by putting their picture on telephone poles all across London. And the name an

Finance committee  Yes. They are people who have not complied with the requirements of the Act and British agreements when declaring their income.