Last week the Canada Revenue Agency (“CRA”) formally announced a whistleblower program for reporting Canadian tax fraud. Our contacts in Canada have told us that this measure has been in the works for a long time. For now the details remain a little thin, but it appears like the program -called the Offshore Tax Informant Program (“OTIP”) – is modeled after the old IRS whistleblower program, whereby whistleblowers have to get a contract with the CRA in advance of submitting any information in order to get an award. Those awards are between 5 and 15% of the amount collected by the CRA, although their definition of collected proceeds does not appear to be as expansive as the US definition. Furthermore the scope of tax issues which are subject to OTIP are limited, so you should consult counsel to determine if any information you have may make you eligible for an award.
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