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CRA Announces Membership Of Offshore Compliance Committee

by Mike Godfrey,, Washington

23 May 2016

The Canada Revenue Agency (CRA) has announced the full membership of the Offshore Compliance Advisory Committee (OCAC), which will advise on current and future administrative strategies for dealing with offshore non-compliance.

As part of the 2016 Budget, the Government will invest CAD444.4m (USD338.5m) over the next five years in the CRA's efforts to tackle tax evasion and avoidance. Last month, it announced the establishment of OCAC, which will initially focus on developing strategies to help alleviate and discourage offshore non-compliance and study the administrative policies being used by other tax administrations to address such issues. It will also provide advice to the CRA on measuring the tax gap, and recommend ways to improve the CRA's criminal investigation functions and to better understand practices related to the promotion of tax schemes.

OCAC will be chaired by Dr Colin Campbell, Associate Professor of Law at Western University, and vice-chaired by Kimberley Brooks, Associate Professor at Dalhousie University. The remaining five members are drawn from universities and professional advisory services providers.

Revenue Minister Diane Lebouthillier said: "I am pleased to announce this eminent group of leading experts as members of the OCAC. Their valued contribution will help the CRA deliver on this government's commitment to detect and audit aggressive tax planning, as well as prosecute tax evasion by helping refine and make more transparent the CRA's policies and practices. Canadians must have confidence that the tax system is fair for everyone and that everyone pays their fair share of taxes."

TAGS: compliance | Offshore | tax | tax compliance | tax avoidance | government committee | audit | tax authority | offshore | tax planning | Canada | trade association | trade | services | Compliance | Tax | Tax Evasion

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