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OTTAWA A Liberal senator says the federal government isnt doing enough to catch tax cheats who stash money in overseas havens.

Percy Downe says the government has the names of more than 100 people who hold million of dollars in Liechtenstein bank accounts, but hasnt cracked down.

The Prince Edward Island Liberal senator says the Canada Revenue Agency managed to recoup only $6 million in taxes and interest from these people last year.

In a release, Downe says the government seems to be bending the rules to let some of them off the hook.

He says another 1,700 Canadians are known to have accounts in just a single Swiss bank.

Downe adds that at a time when the government is scrambling to deal with the deficit, theres no excuse for letting tax cheats off easy.

Not one penny has been assessed in fines, he said of the Liechtenstein cases.

That is because not one charge has been laid. In the four years since this information has come to light, not one of these Canadians who have hidden their money abroad to avoid paying taxes in Canada have stood before a judge, in Canada or overseas.

Downe, a former chief of staff to Jean Chretien who was named to the Senate by his boss in 2003, says its a matter of fairness.

Tax fairness, like justice, must be seen to be done, he said. Honest, law-abiding, taxpaying Canadians should not have to feel let down by a federal government unable or unwilling to make a serious effort to recoup monies from Canadians who try to avoid paying their fair share.

Read more from the original source:
A call to crack down on tax cheats with overseas bank accounts