Tag Archives: unreported cash sales
Federal memo estimates more than $176M of Atlantic lobster catch unreported, untaxed
The federal Department of Fisheries and Oceans suspects hundreds of millions of dollars’ worth of lobster is caught in Atlantic Canadian waters each year but never reported to authorities, raising both tax evasion and conservation implications in the country’s largest fishery. An internal memo in August to DFO’s deputy minister said it’s estimated that between 10 and 30 per cent of lobster landings in the region are unreported, and the department said in a statement it is working to map out criminal networks and money laundering in the sector. “It’s mind-boggling,” said Osborne Burke, the president of the Nova Scotia Seafood Alliance, which represents about 150 lobster buyers and processors and has urged a crackdown on unreported cash sales. more, >>CLICK TO READ<< 06:44
