Transparency International Canada

Transparency International Canada is the Canadian division of Transparency International, a global anti-corruption non-government coalition. It looks at global corruption and offers legal reforms to fight it. It claims that compared to other advanced countries, Canada's transparency laws are weak.

TIC claims that lack of ownership disclosure makes Canada's real estate market attractive for the investment the proceeds of crime, and that the lack of disclosure in property ownership facilitate tax evasion. It claims this is a growing problem gone mostly unpunished in Canada.

It suggested that lawyers are often used to launder money in Canada and that almost half of Vancouver's 100 most expensive homes were bought using methods that obscure the identity of the buyer. Research by TIC showed that between 29 and half of the 100 most valuable residential properties in the Greater Vancouver area are owned using methods that obscure the identity of the buyer, and that four are registered in offshore jurisdictions.

TIC recommends that the Canadian federal government should require all companies and trusts in the country to identify their beneficial owners, and publish the collected information in a registry that is accessible to the public.[1][2]

Canada is ranked number nine on the Transparency International's annual Corruption Perceptions Index.[3]

Paul Lalonde is the chair and president of Transparency International Canada.[4]

References

  1. ↑ "canada.com - Page Not Found" – via Canada.com.
  2. ↑ "Vancouver luxury home market shows need for more ownership disclosure: anti-corruption group".
  3. ↑ International, Radio Canada (27 January 2016). "Canada ranked 9th least corrupt country in the world".
  4. ↑ "Tax havens serve 'no useful purpose,' say more than 350 leading economists - Toronto Star". thestar.com.
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