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Harper Government Cracks Down on Offshore Tax Evasion with Launch of Paid Informants Program

Canada Revenue Agency launches informant hotline

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 01/15/14 -- Canada Revenue Agency

Minister Kerry-Lynne Findlay today launched the Offshore Tax Informant Program (OTIP), announced in Economic Action Plan 2013 as the Stop International Tax Evasion Program, one of the new measures to crack down on international tax evasion and aggressive tax avoidance.

The new program will allow the Canada Revenue Agency (CRA) to pay individuals with information about major international tax non-compliance a percentage of the federal tax collected as a result of the information provided.

For more information on the Offshore Tax Informant Program, please visit our website at www.cra.gc.ca/otip

Effective today, the informant's hotline, 1-855-345-9042, is open and ready to receive calls.

Quick Facts

--  Under OTIP:
    --  the information an individual gives the CRA will be reviewed to
        decide if there is evidence of major international tax non-
        compliance that would ultimately lead to additional taxes being
        assessed and collected;
    --  the CRA will enter into a contract with the individual if the
        potential additional assessment of federal tax, excluding interest
        and penalties, is more than $100,000;
    --  a payment will be made to the individual after the tax debt has been
        collected and all recourse rights associated with the assessed tax
        have expired; and
    --  a payment will not be made to an individual who has been convicted
        of tax evasion related to the information provided.
--  Along with OTIP, the recently announced strengthened foreign income
    reporting requirements and the introduction of a streamlined legal
    process for getting information about unnamed persons, Economic Action
    Plan 2013 also proposes the mandatory reporting to the CRA of
    international electronic funds transfers over $10,000, which will help
    identify international non-compliance.
--  With today's announcement, four of the five Economic Action Plan 2013
    measures to combat international tax evasion and aggressive tax
    avoidance are now in place, with the remaining measure scheduled to take
    effect in 2015.
--  The Harper Government is investing $30 million over five years - $15
    million to fund the electronic funds transfer initiative and $15 million
    to increase compliance and audit efforts and activities -- to combat
    international tax evasion and aggressive tax avoidance.

Quotes

"Our Government is committed to combatting international tax evasion and aggressive tax avoidance as part of its work to protect the important resources that Canadians can count on. Hiding income and assets in foreign jurisdictions to avoid taxes is a serious issue that undermines the integrity and fairness of Canada's tax system"

The Honourable Kerry-Lynne D. Findlay
Minister of National Revenue

Associated Links

Voluntary Disclosures Program

Foreign income reporting requirements

Stay connected

To receive updates when new information is added to our website, you can:

- Follow the CRA on Twitter - @CanRevAgency.

- Subscribe to a CRA electronic mailing list.

- Add our RSS feeds to your feed reader.

You can also watch our tax-related videos on YouTube.

Contacts:
Julie Carmichael
Director of Communications
Office of the Minister of National Revenue
613-995-2960

Noel Carisse
Media Relations
Canada Revenue Agency
613-952-9184

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