Criminals, kleptocrats, and tax evaders are taking advantage of Canada’s stellar reputation as an open and honest place to conduct business. Today, Transparency International released its annual Corruption Perception Index, giving Canada a commendable 82 out of 100 transparency score and ranking Canada as the ninth least corrupt country out of 177. Canada owes this ranking to our people’s expectations of ethical behaviour, strong public institutions, a free press, and an engrained rule of law.
However, look beyond Canada’s low corruption ranking and within its institutions, real threats hide in plain sight. Our system is being used as a getaway vehicle for corrupt politicians, drug traffickers, tax evaders, and every kind of thief to launder the money from their criminal enterprises. There are few places on Earth where it is easier to set up an anonymous company. That makes Canada an attractive place for people looking to avoid the scrutiny of law enforcement or tax authorities. A corrupt foreign politician can come to Canada and have a nominee set up a company or trust for their benefit, and make it nearly impossible for anyone to determine its true ownership.
Source: Don’t let Canada become haven for tax dodgers | Toronto Star
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