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New snitch line paying off for Revenue Canada
Calls flooding into snitch line designed to catch offshore tax
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The Canada Revenue Agency has 80 new leads on taxpayers who may be hiding money offshore after getting hundreds of calls on its new snitch line.

The flush of information has even the agency's harshest critics acknowledging the initial success of the hotline, established Jan. 15 to help ferret out billions of dollars stashed overseas.

The so-called OTIP line, for Offshore Tax Informant Program, was promised in the March 2013 budget but took 10 months to set up.

As of May 31, more than 800 people rang the number, drawn by a cash reward system that gives the tipster up to 15 per cent of the amount in taxes that the agency eventually collects.

Only 251 of those calls were actual informants, and only 100 went to the next required step, filing a written submission identifying themselves and providing detailed information on the alleged
overseas tax evasion.

The agency closed 20 of those written files as dead ends, but is pursuing the remainder.
    

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  1. Mark posted on 07/13/2014 04:04 PM
    This is a good start. Kudos to those who have the guts to stand up to these greedy rats. But more needs to be done. If it is a company owner, and upon successful conviction, there should be a harsh mandatory prison sentence, and the owners company and all of its assets should go up for public auction to the highest bidder for a new owner to operate. That money would then go back into the community from which the perpetrator stole from by not paying their fair share. Off shore accounts to evade paying taxes would virtually disappear.
  2. Frankie posted on 07/14/2014 10:05 AM
    Agree! Too bad there aren't consequences however for governments that "steal" $ 1 Billion, waste $ 5-6 Billion of taxpayers' hard-earned money.

    Whoops...I forgot. In Ontario the consequences are the government gets re-elected with a majority.
    1. john posted on 07/14/2014 10:53 AM
      @Frankie hay it happens .
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The Canada Revenue Agency has 80 new leads on taxpayers who may be hiding money offshore after getting hundreds of calls on its new snitch line.

The flush of information has even the agency's harshest critics acknowledging the initial success of the hotline, established Jan. 15 to help ferret out billions of dollars stashed overseas.

The so-called OTIP line, for Offshore Tax Informant Program, was promised in the March 2013 budget but took 10 months to set up.

As of May 31, more than 800 people rang the number, drawn by a cash reward system that gives the tipster up to 15 per cent of the amount in taxes that the agency eventually collects.

Only 251 of those calls were actual informants, and only 100 went to the next required step, filing a written submission identifying themselves and providing detailed information on the alleged
overseas tax evasion.

The agency closed 20 of those written files as dead ends, but is pursuing the remainder.
    

Leave a comment:

showing all comments · Subscribe to comments
  1. Mark posted on 07/13/2014 04:04 PM
    This is a good start. Kudos to those who have the guts to stand up to these greedy rats. But more needs to be done. If it is a company owner, and upon successful conviction, there should be a harsh mandatory prison sentence, and the owners company and all of its assets should go up for public auction to the highest bidder for a new owner to operate. That money would then go back into the community from which the perpetrator stole from by not paying their fair share. Off shore accounts to evade paying taxes would virtually disappear.
  2. Frankie posted on 07/14/2014 10:05 AM
    Agree! Too bad there aren't consequences however for governments that "steal" $ 1 Billion, waste $ 5-6 Billion of taxpayers' hard-earned money.

    Whoops...I forgot. In Ontario the consequences are the government gets re-elected with a majority.
    1. john posted on 07/14/2014 10:53 AM
      @Frankie hay it happens .
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