The "Panama Papers" - massive leak from an offshore tax law firm

[pylon]

Originally Posted by Bunk

Why would you hope our Prime Minister is a criminal? How bizarre.

Because then we can force him to resign or push to call a new election. Trudeau is terrible for the west. Period.

[Weitz]

Originally Posted by Bunk

Why would you hope our Prime Minister is a criminal? How bizarre.

The same way people hope Trump and Clinton are involved? They don't like them.

[blankall]

Originally Posted by Fighting Banana Slug

That would be the case for any Federal bureau. You implied that the CRA had some form of secret nefarious power to change laws. That is false.

That's not true of any bureau. The CRA has been given special powers that allow them to apply their laws retro-actively was the point. It's much less common in other types of law.

The CRA also has far reaching powers of discovery. Them having access to the kind information they get is unparalled in other areas of law. For example, they can just pick people at random for an audit. In the criminal world, you would need warrants to get that kind of information. In civil law you'd need court orders.

My point was that the CRA acts very differently than just about any other regulatory body.

[Table 5]

Originally Posted by Bunk

Why would you hope our Prime Minister is a criminal? How bizarre.

Because sadly, we're starting to go the way of the American partisanship where no matter the consequences, people would rather see the other guy fail, rather than see him succeed and prove them wrong. He's not one of us, let's burn the house down!

[Bunk]

Originally Posted by pylon

Because then we can force him to resign or push to call a new election. Trudeau is terrible for the west. Period.

Huh. I hope he's wildly successful and our country, including our region, prospers.

[puckedoff]

I hid some money offshore once, honestly not as glamorous (or nefarious) as you guys are making it sound.
I can forgive these guys for making an easy mistake like I did (I forgot my wallet was in my board shorts, could happen to anyone)

[Locke]

Uh oh. Just got the Score text, looks like FIFA's new President may have been involved with some people involved in this who are under indictment.

Good ol' FIFA.

[Locke]

Originally Posted by Bunk

Huh. I hope he's wildly successful and our country, including our region, prospers.

Me too, but I've found that 'hoping' for things doesnt make them any more likely to actually happen.

[Slava]

Originally Posted by Table 5

Because sadly, we're starting to go the way of the American partisanship where no matter the consequences, people would rather see the other guy fail, rather than see him succeed and prove them wrong. He's not one of us, let's burn the house down!

Originally Posted by Bunk

Huh. I hope he's wildly successful and our country, including our region, prospers.

I've never understood the cheering for failure of things like the entire countries economy on account of pure partisanship.

Originally Posted by Locke

Uh oh. Just got the Score text, looks like FIFA's new President may have been involved with some people involved in this who are under indictment.

Good ol' FIFA.

How can that possibly be?

[corporatejay]

Originally Posted by GreenLantern2814

Here's a novel idea. Why not just pay taxes in the place you live and help contribute to making it better?

How does that work for corporations?

Let's say you are incorporated in Alberta and are a publicly traded company with investors all over the world.

Your business is done Turkey and that's where you generate your revenue. Should you pay taxes in Turkey or Canada? Both? When should you pay it? When you repatriate it or when you earn it?

These are just basic questions. I mean obviously there is tax evasion and that is a problem but it's not as simple as saying "just pay your taxes where you live".

[blankall]

Originally Posted by corporatejay

How does that work for corporations?

Let's say you are incorporated in Alberta and are a publicly traded company with investors all over the world.

Your business is done Turkey and that's where you generate your revenue. Should you pay taxes in Turkey or Canada? Both? When should you pay it? When you repatriate it or when you earn it?

These are just basic questions. I mean obviously there is tax evasion and that is a problem but it's not as simple as saying "just pay your taxes where you live".

It's an incredibly complicated system involving legislature from both countries and treaties.

How much you pay is very much dependent on the relationship between the two parties. Depending on the jurisdiction tax obligations can be based on residency, citizenship, location of income earned, etc... It's then up to a tax treaty to decide who you pay the money to.

[Azure]

Isn't there like a few trillion being held overseas by US corporations because it would be heavily taxed if they brought it back to the US?

Seems a bit counterproductive. Let them bring it home provided they invest it into R&D or something. But if they pay it back in dividends, screw that.

[MrMastodonFarm]

Originally Posted by Locke

Me too, but I've found that 'hoping' for things doesnt make them any more likely to actually happen.

Well that has nothing to do with what Bunk said.

[Locke]

Originally Posted by MrMastodonFarm

Well that has nothing to do with what Bunk said.

Sure it does. I can hope that Trudeau grows a horn on his head and transforms into a beautiful Unicorn. And I can hope that he does a great job and eventually balances a budget.

Both are equally unlikely to occur and my hope moves the dial on both happening equally.

[MrMastodonFarm]

Locke has gone full partisan hack.

[Makarov]

Originally Posted by Locke

Sure it does. I can hope that Trudeau grows a horn on his head and transforms into a beautiful Unicorn. And I can hope that he does a great job and eventually balances a budget.

Both are equally unlikely to occur and my hope moves the dial on both happening equally.

He's already a beautiful unicorn, so I guess that shows how much you know.

[I-Hate-Hulse]

Originally Posted by fulham

My Biggest two Competitors, were some of the Canadian Names listed.

Is a list of Canadian names readily available? Can't seem to find a link anywhere.

[RockLicker]

Originally Posted by I-Hate-Hulse

Is a list of Canadian names readily available? Can't seem to find a link anywhere.

Found this the other day, but yeah, hard to track down:

https://offshoreleaks.icij.org/search

Aside from Tony Merchant and his family, I stumbled across a couple of other names I recognize, but I haven't had a chance to really look through it. It's not a great format to search through, but have fun!

[Makarov]

Tony Merchant. LOL.

[Fuzz]

A quick browse shows LOTS of Chinese companies.