U.K. to Crack Down on Tax Evasion

OTTAWA — The embattled Canada Revenue Agency says it will investigate the files of potentially hundreds of Canadians included in a massive leak of financial information for alleged accounts in offshore tax havens — if it can get its hands on the information. But unions, critics and tax watchdogs question how the federal government can effectively crack down on potential tax evasion when it is cutting more than $250 million and 3,000 staff from the revenue agency.

WASHINGTON (Reuters) - The U.S. Treasury Department said on Thursday it had reached agreements with Switzerland and Japan to crack down on tax evasion by Americans, a move meant to help foreign banks in those countries comply with upcoming U.S. tax regulations. The announcement expands the list of countries already cooperating with Treasury to implement the U.S. Foreign Account Tax Compliance Act, or FATCA, a 2010 anti-tax evasion law. Treasury said in February it was negotiating with France, Germany, Italy, Spain and Britain to set up government-to-government information sharing deals.

HALIFAX — Ottawa will use the courts to try and get the Canadian Broadcasting Corporation to hand over leaked data naming people who have allegedly used offshore tax havens, National Revenue Minister Gail Shea said Tuesday. Shea said she has asked the CBC for the information but it has refused, so now the department will pursue legal means in a bid to get the list.

ATHENS — Greece’s drive to crack down on flagrant tax evaders such as doctors and lawyers is flagging and must be reinvigorated, a report by the European Union and International Monetary Fund said on Monday. Athens has collected just half the tax debts and conducted less than half the audits it was supposed to under the targets set by its lenders, according to a survey by the country’s international lenders which was compiled in November.