Amid another leak of documents revealing large-scale international tax avoidance, the secretary-general of the Organisation for Economic Co-operation and Development (OECD) said Monday that tax avoidance was fast becoming a thing of the past. “When we’re talking about the ‘Panama Papers’ or ‘Paradise Papers’we’re talking about a legacy that is fast disappearing,” Angel Gurria said. Speaking at the Confederation of British Industry (CBI) conference in London, Gurria said governments were working hard to stop tax avoidance and evasion.
Canada is routinely cited as a boring backwater in financial services that has none of the scandals plaguing the rest of the industry. But in an extraordinary investigative report on The National, CBC’s Ian Hanomansing revealed an ongoing Canada Revenue Agency investigation, and a looming criminal investigation into KPMG Canada’s Isle of Man tax “haven” scheme reserved for its wealthiest clients. The report names names. Current Canadian government ministers are also implicated in apparent conflicts of interest.