NEWS
 
New snitch line paying off for Revenue Canada
Calls flooding into snitch line designed to catch offshore tax
3 0

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.
    

Categories:

DON'T MISS

TED RADIO HOUR

Welcome to TED Radio Hour hosted by Guy Raz, Saturdays at 6pm and Sundays at 7pm

 
3 0

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.
    

Top stories

The blaze broke out in the area of Mavis Rd and Central Pkwy Monday morning.