Canada How Canada became an offshore destination for 'snow washing' The country’s opaque jurisdictions allow owners of private companies to remain anonymous and the firms to remain in the shadows The frozen Lake Ontario with Toronto skyline in the background. How Canada stacks up against other countries – including known tax havens – was suggested in a 2013 study by American researchers. In 2014, G20 members – including Canada – vowed to improve transparency around the ownership of legal entities. An investigation last year by the Toronto Star and the Canadian Broadcasting Corporation found more than two dozen firms around the world touting the benefits of Canada as an offshore destination. “Canada is a new player in the world of offshore companies,” noted the website of one corporate service firm in Switzerland.

Source: The Guardian February 14, 2018 10:52 UTC