Tax Havens Exposed

It's trueóthere are fewer places for tax dodgers to hide these days. Global finance ministers are clamping down on tax havens. Canada has agreed to comply with the standard for the exchange of tax information set by the OECD (Organization for Economic Co-operation and Development).

Did you know that within the past year and a half Canada has signed 11 Tax Information Exchange Agreements (TIEAs)?

"These agreements will help Canadian tax authority's combat international tax evasion,î says Finance Minister Jim Flaherty. Countries with whom Canada does not have tax treaties have signed TIEAs with Canada. These include San Marina, Anguilla, Bermuda, the Cayman Islands and the Turks and Caicos Islands. Additional agreements with other countries are in progress. For more information: http://www.fin.gc.ca/n10/10-107-eng.asp

ADDITIONAL EDUCATIONAL RESOURCES: Cross Border Taxation Course