Hockey POTUS
Registered User
- Jul 20, 2016
- 58
- 81
It looks like the Canadiens are wrapped up in the "Paradise Papers" leaks.
This refers to roughly 3,300 Canadian companies, trusts, foundations and individuals whose names appear in a leak of millions of records from an offshore law firm and the corporate registries of 19 tax havens.
Basically, the Canadiens have been caught creating an offshore trust or corporation in countries where they pay little or no taxes, as a way to legally avoid — or potentially evade — paying taxes in Canada.
While this is legal, given Canada's lax corporate tax laws, it's dirty. I've been a Canadiens fan since I was a kid in the mid-70's. This is shameful. This team used to represent something, and it wasn't legal tax evasion.
Good work by the CBC and the Toronto Star (as well as an international consortium of journalists) for uncovering this. Molson needs to address this.
This refers to roughly 3,300 Canadian companies, trusts, foundations and individuals whose names appear in a leak of millions of records from an offshore law firm and the corporate registries of 19 tax havens.
Basically, the Canadiens have been caught creating an offshore trust or corporation in countries where they pay little or no taxes, as a way to legally avoid — or potentially evade — paying taxes in Canada.
While this is legal, given Canada's lax corporate tax laws, it's dirty. I've been a Canadiens fan since I was a kid in the mid-70's. This is shameful. This team used to represent something, and it wasn't legal tax evasion.
Good work by the CBC and the Toronto Star (as well as an international consortium of journalists) for uncovering this. Molson needs to address this.