HIDDEN: Federal Government Won’t Publicly Reveal Potential Offshore Tax Losses

It’s almost like the elites don’t want the Canadian people to know the truth…

Canadians are demanding to know what the elites have been hiding in offshore tax havens.

As working class and middle class people get fleeced by the government, the elites are refusing to contribute, stashing as much wealth as they can offshore to avoid Canadian taxes.

You would think that – if the government truly served the Canadian people – we would at least know how much tax money is being lost every year from offshore tax havens, or even have a decent estimate.

Yet, a new report reveals that for six years the Parliamentary Budget Office has been trying to get info from CRA on the “tax gap” – the difference between how much should be brought in every year, and how much actually is brought in.

The problem?

The CRA isn’t providing the data.

While numerous countries, including the U.S. and U.K. report that info publicly, Canadians are being deprived of the info.

As noted in the Toronto Star, “Last year, the CRA published a report about GST tax losses, concluding that about 5.6 per cent in potential revenues went uncollected every year from 2000 to 2014. Earlier this year, the agency released a report saying Canada forfeited $8.7 billion in 2014 domestic taxes as a result of unreported underground economy income and unpaid taxes. But those reports ignored the white elephant in the room: uncollected offshore taxes fuelled by the billions flowing out of the country and often into foreign tax havens.”

So, the key source of the tax gap isn’t being reported by the government. Once again, they go after everyday Canadians for more taxes, but leave the elites untouched. And the consequence is that billions of dollars in revenue is lost, meaning the rest of us are hit with even higher taxes that the elites avoid.

The cost of the tax gap around the world can be huge. For example, the U.K. tax gap is $70 billion, while the tax gap in the U.S. is $689 billion. So, if the tax gap in Canada is even close to proportional, we could be missing out on tens of billions in tax revenue every year – meaning we could have far lower tax rates and bring in the same amount of revenue if the gap was closed.

So, information that could be essential to stopping the elites from getting away with avoiding taxes, and bring in more revenue without raising tax rates, is being denied to Canadians.

Government covering for the elites?

This seems to be a clear sign that the government doesn’t want Canadians to know how much the elites are truly costing our country. The revelation of that figure would surely cause even more public outrage, and the elites are desperate to hold onto their entitlements and privileges at our expense.

That’s why we must demand that our so-called “leaders” demand that we learn exactly how much we are losing from offshore tax havens, and end the use of those tax havens. Until that happens, it remains clear that the “Canadian government” doesn’t actually work for the Canadian people.

Spencer Fernando

Photo – YouTube

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