The Tax Justice Network’s 2018 Financial Secrecy Index says Canada’s financial system is less transparent than that of notorious tax havens and countries often portrayed as corrupt by the mainstream media, such as China, Russia and Kenya.
As part of an effort to disappear potential conflicts of interest, U.S. President-elect Donald Trump recently announced he’d dissolve the Donald J Trump Foundation. Meanwhile, the 45th President of the United States says its unfair that his son Eric must now give up charity work.
Lack of transparency in philanthropic foundations, which cost taxpayers, raises ethical questions, argues Elizabeth Cham, an Honorary Fellow at the UTS Business School, University of Technology Sydney.
Alternatives, a small Montreal-based foreign aid charity, may lose its charitable status following a CRA audit and notice of revocation, CBC News reports
The American Red Cross continues to resist ProPublica’s request for information on the charity’s $300 million Hurricane Sandy spending, argues that information constitute a “trade secret.”