FINA Committee Meeting

The Standing Committee on Finance met in a televised session at 3:27 p.m. this day, in Room 237-C, Centre Block, the Chair, James Rajotte, presiding.

Daniel Paillé moved, — That the Committee call witnesses, including the HSBC bank, Mr Don Johnston, former Secretary-General of the OECD, the Canada Revenue Agency and the federal Department of Finance, to appear before the Committee on the subject of offshore bank accounts whose holders are Canadian, in order to learn what measures will be taken by the Canada Revenue Agency to recover unpaid income tax that may have been hidden in these accounts, find out whether criminal charges will be laid against account holders suspected of tax evasion, and ascertain Canada’s strategy for combating tax evasion.

Ted Menzies moved, — That the motion be amended by adding after the word “OECD,” the following: “the OECD”; by adding after the word “accounts,” the following: “how the voluntary Disclosures Program has affected our efforts in this area,”; and by adding after the word “evasion,” the following: “discuss the work of (and Canada's involvement) in the Global Forum, on Transparency and Exchange of Information for Tax Purposes”.

Thomas J. Mulcair moved, — That the amendment be amended by adding after the word “OECD” the following: “Michael Wilson”.

After debate, the question was put on the subamendment of Thomas J. Mulcair and it was agreed to.

After debate, the question was put on the amendment of Ted Menzies, as amended, and it was agreed to.

After debate, the question was put on the motion, as amended, and it was agreed to.

The motion, as amended, read as follows:

That the Committee call witnesses, including the HSBC bank, Mr Don Johnston, former Secretary-General of the OECD, Michael Wilson, the OECD, the Canada Revenue Agency and the federal Department of Finance, to appear before the Committee on the subject of offshore bank accounts whose holders are Canadian, in order to learn what measures will be taken by the Canada Revenue Agency to recover unpaid income tax that may have been hidden in these accounts, how the Voluntary Disclosures Program has affected our efforts in this area, find out whether criminal charges will be laid against account holders suspected of tax evasion, discuss the work of (and Canada's involvement) in the Global Forum on Transparency and Exchange of Information for Tax Purposes, and ascertain Canada’s strategy for combating tax evasion.

Benjamin Tal, Glen Hodgson, Bernard Brun, François Dupuis and Carlos Leitao made statements and answered questions.

At 5:25 p.m., the sitting was suspended.

At 5:29 p.m., the sitting resumed.

Alain Castonguay and Tim Wach answered questions.

Pursuant to Standing Order 75(1), consideration of Clause 1 is postponed.

The Chair calls Clause 2.

By unanimous consent, Clauses 2 to 4 inclusive carried.

Schedule 1 carried.

Schedule 2 carried.

Schedule 3 carried.

The Short Title carried.

The Title carried.

The Bill carried.

ORDERED, — That the Chair report the Bill to the House.

At 5:52 p.m., the Committee adjourned to the call of the Chair.