Home Buyers Pay For Canada's Failure To Stem Foreign Tax Evasion

This may come as a surprise to your average Canadian, but Canada is a haven for tax fraud. Transparency International released a report last week, judging the effectiveness of the commitments made at the London Anti-Corruption Summit in the spring. The report was a little dry, but an interesting thing was revealed — Canada made no commitment to start punishing professional enablers of fraud. In fact, they noted all of the commitments Canada made were “not new.”Does it seem odd that we would send people to say we’re not cracking down on enablers of fraud? Well, it shouldn’t. Canada has actively promoted itself as an entry to lower tax jurisdictions for decades. Unfortunately, the opaque banking system we created to allow this also attracts fraudsters. By turning a blind eye to international tax fraud, regular Canadians are starting to pay the price of these crimes with their homes.
Canada …