Offshore Tax Informant Program (OTIP)

The Offshore Tax Informant Program (OTIP) which provides incentives to individuals who come forward with information regarding possible tax evasion or non-compliance related to offshore accounts or assets.

Under the program, informants are eligible to receive a percentage of the taxes collected by the CRA as a result of their information. The percentage varies depending on the amount of taxes collected, with a maximum of 15% for amounts over $100,000. To be eligible for the program, informants must provide new and reliable information that leads to the assessment and collection of taxes owed by the taxpayer in question. They must also provide detailed information on the taxpayer’s identity, their location, and the nature of the tax evasion or non-compliance.

The program provides anonymity to informants and protects them from retribution or harassment. However, informants may be required to testify in court if their information becomes part of a legal proceeding.

Overall, the purpose of the OTIP is to encourage individuals with knowledge of offshore tax evasion to come forward and help the CRA collect the taxes. We currently have a number of outstanding OTIP files and have significant experience in bringing these cases forward. Please feel free to contact us with regard to these programmes.