The Common Reporting Standard will require firms to identify clients who are tax residents of foreign countries
The CRA has entered into more than a dozen contracts with whistleblowers under the Offshore Tax Informant Program in comparison with none at this point last year
The legislative proposals released on Friday would facilitate the automatic exchange of financial information between Canada and other countries
The agency says it will review all foreign electronic fund transfers over $10,000 involving the Isle of Man
Trudeau calls for global co-operation to crack down on offshore tax evasion
Former bankers plead guilty
Feds move forward to address tax evasion through the automatic exchange of tax information
The Offshore Tax Informant Program offers rewards for information on people who are hiding offshore income or assets
Partly in response to the U.S.'s FATCA initiative to collect taxes from its citizens who live abroad, 60 other countries, including Canada, have signed on to the Common Reporting Standard, which creates an international tax-collection system
Most submissions under the OTIP have concerned individual taxpayers