Canada is tackling international tax evasion and aggressive tax
avoidance. It has adopted several measures to do so including a
whistleblower program and expanding reporting of international wire
transfers to the Canada Revenue Agency (CRA). The Canadian
government is also investing C$30 million with the CRA to
strengthen compliance and audit efforts.
Canada signed the OECD's Multilateral Competent
Authority Agreement (MCAA) on June 2, 2015 after committing in
the April 21 federal budget to propose legislation to implement the
Common Reporting Standard (CRS). Information received by the CRA
under the CRS, including income, account balances (or values) and
social insurance numbers, will continue to increase CRA efficiency
in curbing international tax evasion.
