Hide and Seek: How a Government Partner Uses Tax Havens to Avoid Canadian Taxes
September 14, 2015
A new report by UNITE HERE Canada details how principals of Larco Investments, one of Canada’s largest real estate developers and landlord to several government agencies, have ties to offshore tax havens.
The report expresses concerns about the use of offshore tax havens by a government partner and asks the Canada Revenue Agency to probe the fairness of Larco and its owners’ tax practices. While there is no evidence of illegality, Larco’s owners are tied to a string of corporations that appear to facilitate aggressive tax practices. It also asks what steps are being taken by the CRA to curb the growing use of tax havens by wealthy individuals and corporations.