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But Canada shares banking data with the IRS. https://www.cbc.ca/news/politics/fatca-tax-us-canada-1.5353942 https://www.cbc.ca/news/politics/fatca-tax-us-canad

• corodra 7y ago
  Uh-huh, and no one lies on their taxes either. While, I know it's funny to joke that Canadians say sorry and are super nice. I think that's a racist stereotype. Canadians are typically dicks. Especially the Quebecois. So to pretend that they magically share all information with foreign governments... sure. And Deustche Bank is innocent of banking fraud too.
• unreal37 7y ago
  Only for Americans.
• lemmox 7y ago
  Yes, Canadian tax residents have serious obligations, as do US citizens (no matter where they live)! LPs on the other hand, do not _if_ there is no economic activity in Canada and there's a tax treaty at play with the founding partner jurisdiction. Canada doesn't have the authority to tax foreign owned businesses unless they participate in the Canadian economy. Eg: Your international entities can route money through a Canadian LP that is owned by your Barbados corporation. In this scenario there's no Canadian tax obligation and the money trail becomes harder to follow due to Canada's privacy laws (your company name might not be on your LP documentation). Your company does, of course, have to settle up the tax obligation with Barbados.