PEI Senator Percy Downe will introduce the Fairness for All Canadian Taxpayers Act in the Senate Wednesday.
It would require the Federal Government to measure the tax gap, which the Conference Board of Canada estimates to be up to $47.8 billion.
Downe’s Bill would amend the Canada Revenue Agency Act to require the Canada Revenue Agency (CRA) to report on all convictions for tax evasion, including a separate report listing all convictions for overseas tax evasion, in an annual report tabled in Parliament.
It would also require the Minister of National Revenue to report to Parliament yearly on the “tax gap”, the difference between what taxes should have been collected and what is actually collected.