Description: It was hard to miss the news this past week of the so-called Panama Papers. This vast leak of over 12 million documents has provided lots of data on potential tax avoidance for journalists to sort through, and plenty of headaches for politicians and public figures forced to account for dealing with the Panamanian law firm Mossack Fonseca. The Prime Minister of Iceland has had to resign under intense scrutiny, and, David Cameron, Prime Minister of Britain, has had to deal with public pressure around the revelation that his father has been named in the Panama Papers.
Date: April 9, 2016
1) Have you been following the stories around the Panama Papers? What is the single most interesting thing about them that has struck you so far?
2) What are some of the strategies Canadian governments could employ to determine if those named in the Panama Papers have a tax liability in Canada ?
3) If you were an accountant in practice, what ethical issues would you see if a client asked you to connect them with a firm like Mossack Fonseca?