Panama Papers data leak whittled down to only 150 taxpayer audits in Canada

Pedro Gonçalves
clock • 3 min read

Canada has revelead that from the 3,348 non-resident entities and 2,700 potential beneficial owners identified in the Panama Papers data leak as having links to the country, it only did 150 taxpayer audits and a few tax reassessments.  Canada's Offshore Compliance Advisory Committee (OCAC) report analysed the Canada Revenue Agency's (CRA's) use of the information it received from the so-called ‘Panama' and ‘Paradise Papers'. In both incidents, electronic document caches held by law firms (Mossack Fonseca in Panama and Appleby in Bermuda) were obtained by the self-styled International Con...

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