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Results: 91 - 105 of 730
View Ed Fast Profile
CPC (BC)
View Ed Fast Profile
2021-06-22 17:10
What about the mandatory reporting of international EFTs?
That's for Mr. Gallivan.
Ted Gallivan
View Ted Gallivan Profile
Ted Gallivan
2021-06-22 17:10
It has identified some taxpayers who were flying under the radar. That's part of why we have more than a thousand audits.
In fact, our challenge isn't identifying taxpayers we should audit but getting the audits done. That's why budget 2021 gave us new resources for litigation. We have almost 100% of these taxpayers who litigate during the audit to obstruct our efforts to get the information we need, which is why they take longer and why we have to give them more time.
View Ed Fast Profile
CPC (BC)
View Ed Fast Profile
2021-06-22 17:10
Mr. Chair, my purpose for raising those programs—and there are others—is that both of those programs were implemented by Stephen Harper.
Minister, I just want to say to you that you came to our meeting and started off by attacking Conservatives. Then you told Mr. Ste-Marie to go fly a kite and go talk to the RCMP.
Minister, when are you going to take personal responsibility for the file that you've had since 2015?
View Diane Lebouthillier Profile
Lib. (QC)
Mr. Chair, I can tell you that tax evasion is particularly important to me, not just to me, but to our government as well. In fact, it is because it is so important to us that we have invested so much money in this program.
Mr. Chair, I urge the Conservatives to vote for the budget that has been introduced, to give us more tools that will have the effect of tightening the rules and combatting tax evasion.
View Annie Koutrakis Profile
Lib. (QC)
View Annie Koutrakis Profile
2021-06-22 17:12
Thank you, Mr. Chair.
Thank you for being here this afternoon to answer our questions, Minister.
Minister, we have talked a lot about the past and how the former Conservative government made major cuts in the fight against tax evasion, and about the present, that is, the efforts our government is making to rebuild what the Conservatives dismantled.
I wonder whether you can take a moment to talk about the future of our fight against tax evasion.
What is our government's next priority?
View Diane Lebouthillier Profile
Lib. (QC)
Mr. Chair, I thank my colleague very much for her question.
What I am going to say is also found in my mandate letter. The CRA has not only developed a plan that promotes the collection of essential data with international partners, but it is also working in close collaboration with the other Canadian government departments. We work with the Departments of Finance, Justice and Public Safety.
What is set out in the budget is intended precisely to eliminate even more loopholes that are used to avoid paying taxes in Canada. That is why it is so important to us, at the CRA, for all our colleagues around the table to vote for the budget.
We want to improve the CRA's capacity to fight tax evasion and modernize the general anti-avoidance rules in Canada. That is a priority. We are moving forward and we are going in the right direction, but we need everyone's collaboration. Fighting tax evasion has to be a whole-of-government priority.
View Annie Koutrakis Profile
Lib. (QC)
View Annie Koutrakis Profile
2021-06-22 17:14
Thank you, Minister.
My next question is for Mr. Gallivan.
Speaking on budget 2021, our government announced new policy measures such as new mandatory disclosure rules that will build on previous investments to enhance our fight against tax evasion. What are some other policy changes that you see as necessary in the government's fight against tax evasion?
Ted Gallivan
View Ted Gallivan Profile
Ted Gallivan
2021-06-22 17:14
I certainly think that the powers of oral interview that allow our auditors to interview officials of businesses to get their position on the record is an important change announced in the budget. There were 15 BEPS action items. Action two on interest deductibility and action four on hybrid mismatches are areas that budget 2021 is coming in on to tighten the rules.
Also, the general anti-avoidance rule, which is a form of anti-avoidance super-rule that sits on top of the rest of the Income Tax Act, is also under review for tightening. That's an important tool in our tool kit. I would say all of those items announced in the budget are pretty important. In addition to the CRA's use of it, I think just its presence in the budget sends a signal to tax practitioners and businesses that it's time to pay taxes.
View Peter Julian Profile
NDP (BC)
Thanks very much, Mr. Chair.
I think we probably have about 45 minutes. I believe that Mr. Ste-Marie wants to come back to an issue as well.
I've already circulated the motion and I'll read it for the record and then add an amendment just to facilitate things. This is following discussions with Mr. Sorbara. I move:
That the Committee request that the government initiate a public inquiry under the Income Tax Act—
I would add “or the Inquiries Act”.
—to investigate tax planning by KPMG, or any of its subsidiaries, in the Isle of Man, the possible involvement of the sword companies Shashqua, Katar, Sceax, Spatha and Parrhesia corporations, and to investigate tax fraud in the Cinar, Norshield and Mount Real cases and any possible links with the KPMG Isle of Man tax planning and/or Isle of Man's sword companies, and that this be reported to the House.
I'm adding “or the Inquiries Act” because that gives the government the scope to use either tool, and since there is some dispute around the use of the Income Tax Act, my interpretation—and I would certainly agree with Mr. Ste-Marie and Mr. Lareau on that—is that it gives the government a broader scope to use the tool that is most appropriate.
The most important thing here is that we know from the testimony we had from Janet Watson, from the really important journalism we've seen both with Enquête on Radio-Canada and also from The Fifth Estate on CBC that thousands of Canadians were defrauded. That money was taken overseas. We have a responsibility and we've undertaken to get to the bottom of it as much as we can, but to date, we have asked KPMG many questions and have received often evasive or incorrect responses or no responses at all.
Therefore, I believe that given what we know and that we all share an interest in getting to the bottom of this and we all share an interest in seeking justice for the victims of these colossal frauds—half a billion dollars, and people losing their life's savings. You can only imagine somebody who saved up, like Janet Watson did, $68,000 of her life savings and lost it all due to this fraud.
I believe we have a responsibility to pass this motion. Ultimately, it is a request, but it does seek justice for the victims, and I believe that's what every member of this committee wants to see as well.
Serge Bilodeau
View Serge Bilodeau Profile
Serge Bilodeau
2021-06-17 16:27
Yes, I'm here. I don't know for how long, because the IT guys have been trying to fix the problem for one hour and a half.
Serge Bilodeau
View Serge Bilodeau Profile
Serge Bilodeau
2021-06-17 16:29
My remarks have already been sent to Mr. Roger. I will now make my opening statement.
Thank you for your invitation to participate in the work of your committee. I'm a retired KPMG employee and I was...
Can you hear me?
Serge Bilodeau
View Serge Bilodeau Profile
Serge Bilodeau
2021-06-17 16:29
I'm sorry, but I was told that you couldn't hear me. So I will continue.
Thank you for the invitation.
I am retired from KPMG. I was an associate in the Montreal office for 25 years, from 1987 to 2014. I was never in charge of the tax department or any other department at KPMG, either locally, provincially or nationally. I was a client service associate, not a manager.
In summary, I advised clients on Canadian and international tax matters. I was involved in developing and implementing foreign transactions, such as financial structures, like the so‑called double dipping, the repatriation of foreign profits, and foreign currency management.
I have also acted as an advisor in several mergers, acquisitions and corporate restructuring for both public and private companies.
In the course of my career, I have had numerous discussions with tax authorities to obtain advance rulings or during tax audits. The discussions sometimes concerned foreign operations. My role was to meet the needs of clients by applying tax laws with the highest standards of integrity, compliance and professionalism.
Like most professionals in Quebec, as a CPA, I am bound by professional secrecy regarding our clients and former clients. I will do my best to answer your questions in light of this confidentiality requirement.
However, I can confirm beyond any doubt that I was never involved, as an associate or otherwise in what has been called the Cinar affair. The first time I heard about this case was in the media. Unfortunately, fraud appears to have been involved. As a Canadian taxpayer and a tax professional, I strongly encourage this committee to shed light on the matter.
Today, I am an occasional consultant for KPMG and sit on a few boards of directors.
KPMG is a firm that, in my experience, always acts with integrity and in the best interests of Canadians.
I would like to clarify a few points in that sense.
With respect to the Isle of Man's foreign company structure—the so‑called OCS—I was not involved in its development. I became aware of the structure in the early 2000s, as did several other tax associates in the firm. I reviewed the analysis prepared by the firm's senior tax experts, as well as the two independent legal opinions. At the time, I felt that the structure was valid from a tax and legal perspective, as long as clients followed the advice provided. I personally participated in creating two of those structures. In one case, a third party company was responsible for implementing the structure, so my role was limited.
I also want to make it clear that I was not involved, as an associate or otherwise, in the shell companies named after swords or in Parrhesia. I understand that this may be of interest to you, because those companies were registered in the Isle of Man, but neither of them were associated with the two cases I worked on.
I would not be able to give you any information on that. [Technical difficulty] Ms. Iacovelli, who answered your questions on this subject when she appeared before the committee.
I will do my best to contribute to the discussion today.
View Pat Kelly Profile
CPC (AB)
Thank you.
Would you support the testimony we already heard? You say that KPMG had no involvement in the sword companies or the Cinar affairs. That's your testimony.
Serge Bilodeau
View Serge Bilodeau Profile
Serge Bilodeau
2021-06-17 16:34
I said that I was not personally involved and I directed you to the testimony of my former colleague who appeared before your committee.
View Pat Kelly Profile
CPC (AB)
When you were an employee at the Montreal office, your office did offer offshore products to your clients. That was something you did in the course of your work at KPMG in Montreal. You said you had two clients, or you were at least involved in offering offshore products on two occasions.
Results: 91 - 105 of 730 | Page: 7 of 49

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