Amnesty sounds like a good thing – when it’s handed out to refugees or political prisoners for instance. But we’re bewildered to learn Canada recently gave amnesty to millionaire tax cheats.
More than two dozen fraudsters, all of them clients of KPMG accounting, were caught sidestepping the Canadian Revenue Agency by stashing at least $130 million in an Isle of Man tax haven.
They won’t be fined or see the inside of a courtroom – criminal or civil. They’ll simply have to pay the taxes they were so desperate to avoid in the first place. A teenager caught hopping fare gates at the SeaBus would face firmer treatment.
This leaves us grappling with a big question: why would the CRA uncover a gigantic sham, discover the guilty parties and then fail to penalize them?
The CRA targeted environmental agencies two years ago, applying stringent audits to ensure none of those charities – in their attempt to keep the air clean and the water safe – ever crossed the line into full-blown political advocacy. There is a double standard that needs addressing.
Those hit by collateral damage in this story, oddly enough, are the wealthy.
There are rich people who create jobs and drive the economy, but we must be mindful of misers who create an economic climate where nothing trickles down.
The bright side in all this is the tax avoiders are back on the CRA’s radar, injecting millions into Canada’s coffers, thanks in no small part to a CBC news report.
Remember that the next time someone questions CBC’s worth.
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