home Commodities CRA pays out first cash rewards in offshore tax informant program

CRA pays out first cash rewards in offshore tax informant program

Since inception, the program has generated more than 1,400 calls, over 600 written submissions, and 39 contracts with informants, which has allowed the CRA to identify $50 million in taxes and penalties owed, the CRA said in an emailed statement to the Financial Post.Photo illustration by Tyler Anderson/National Post files

The Canada Revenue Agency has handed out its first cash awards to informants who ratted out offshore tax cheaters.

The payments characterized only as “under $1 million” were made in the 2018-19 fiscal year, which ended March 31, the Financial Post has learned.

The funds were paid out under a program called the Offshore Tax Informant Program, which was created by the tax authority in 2014 to track down tax evaders and “aggressive” tax avoiders.