NDP DEMANDS MINISTER ADDRESS REPORTED CANADIAN CONNECTION TO CRÉDIT SUISSE TAX EVASION SCHEME
May 21st, 2014 - 4:37pm
OTTAWA – The NDP is calling on the Minister of Revenue respond to allegations that Crédit Suisse’s had been recruiting Canadian clients, a bank that was recently found guilty of extensive tax evasion in the United States.
Crédit Suisse was just ordered by U.S. courts to pay $2.6 billion for having solicited and enabled tax evasion. Records also show that employees made repeated visits to Montreal in order to recruit potential clients.
“We are urging the government to be transparent and let Canadians know if the Crédit Suisse’s tax evasion scheme reached Canadian soil,” said NDP National Revenue critic Murray Rankin (Victoria). “If the Minister is unable to confirm or refute these very serious allegations, we would ask that he immediately launch an inquiry into the matter.”
According to several independent studies, tax evasion costs the Canadian Treasury between $5.3 and $7.8 billion annually. Despite this, the Conservative pushed forward massive cuts to Revenue Canada, thereby impeding the CRA’s ability to effectively combat tax evasion.