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Updated: Thu Mar. 01 2012 15:10:24

The Canadian Press

OTTAWA The federal government isn't doing enough to catch tax cheats who stash money in overseas havens, says a Liberal senator.

Percy Downe said the government has the names of more than 100 people who hold million of dollars in Liechtenstein bank accounts, but hasn't cracked down.

However, Nancy Bishay, a spokeswoman for Revenue Minister Gail Shea, said the government has been diligent in chasing tax dodgers.

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

But Bishay says the agency has gone far beyond that in pursuit of cheats.

"Over the last two years, through audits of Canadian taxpayers involved in aggressive international transactions, the CRA has made great strides," she wrote in an email.

"As an example, in 2009-10 alone, we identified over $1 billion in additional taxes. Compare that to 2005-06 under the Liberals where $174 million was identified."

In his news release, Downe said the government seems to be bending the rules to let some tax evaders off the hook.

See more here:
Overseas tax cheats getting off easy, says senator