The "Fairness for All Canadian Taxpayers Act" (Bill S-243) aims to increase transparency and combat tax evasion by amending the Canada Revenue Agency Act.
The bill requires the Canada Revenue Agency (CRA) to include a detailed list of all convictions for tax evasion, including a separate list for international tax evasion, in its annual report to Parliament. This allows for better public awareness of the government's efforts to pursue tax evaders.
Additionally, the bill mandates the CRA to calculate and report on the "tax gap" every three years. The tax gap is the difference between the amount of taxes that should have been collected and the amount that was actually collected. The CRA will compile statistics on the tax gap for different types of taxpayers, including individuals, corporations (segmented by size), and trusts.
Finally, the bill requires the Minister of National Revenue to provide the Parliamentary Budget Officer (PBO) with the data used to calculate the tax gap, allowing the PBO to conduct further analysis. This ensures independent oversight and scrutiny of the CRA's tax gap estimates.
Taxation
This bill focuses on improving tax collection and reducing tax evasion. By measuring the "tax gap" (the difference between taxes owed and taxes collected), the government can identify areas where tax compliance needs to be improved. This could lead to increased tax revenue, which could then be used to fund government programs or reduce the tax burden on compliant taxpayers.
Crime
The bill aims to increase transparency around tax evasion convictions. The Canada Revenue Agency (CRA) must report on all convictions for tax evasion, including international tax evasion, in its annual report. This can help deter future tax evasion and ensure that those who break tax laws are held accountable.