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Re:Salim Kara stole $2M in coins with a magnet and a car ant... by forinti on Tuesday January 02, 2024 @05:01AM (#38839997)
A quick Google didn't return any books on this, unfortunately.

What stood out for me was that the Canadian tax authorities didn't get to him. Maybe he payed tax on his earnings; the article doesn't clarify.

Re:Salim Kara stole $2M in coins with a magnet and a car ant... by rocqua on Tuesday January 02, 2024 @05:57AM (#38840331)
Generally the end goal of money laundering is to have the money be taxed. Because at that point the money looks very legitimate, and a big part of the government (the tax office) stops trying to catch you.
Re:Salim Kara stole $2M in coins with a magnet and a car ant... by toogan on Tuesday January 02, 2024 @05:26AM (#38840144)
Is not paying tax on income from theft actually tax fraud?

I mean, the theft itself is obviously unlawful. But perhaps you wouldn't be taxed on theft proceeds anyway, so no tax laws are broken in that case.

Re:Salim Kara stole $2M in coins with a magnet and a car ant... by thinkingemote on Tuesday January 02, 2024 @05:30AM (#38840174)
Yes income from illegal activities is still taxable income in most parts of the world.

Edits, thinking about it...the article says he claimed the money was from his business. And the bank took in the money. So perhaps he did pay tax?

Re:Salim Kara stole $2M in coins with a magnet and a car ant... by toogan on Tuesday January 02, 2024 @10:07AM (#38842391)
How do you report it? Is there a field "income from illegal activities" in the tax forms? Asking for a friend.
Re:Salim Kara stole $2M in coins with a magnet and a car ant... by Scoundreller on Tuesday January 02, 2024 @12:13PM (#38844028)
Sometimes. When there isn’t, there’s a directive to enter it under “other income” or something similar.

https://www.cbc.ca/amp/1.1407698

Depending on the seriousness of the crime, the taxman may or may not be able to share those details with law enforcement.

I think the cutoff is if the sentence could be for 14 years, they can share it.

When Canada legalized marijuana, they made many infractions punishable by up to 14 years. So if you sell unlawful marijuana to a minor, you could get 0 to 14 years in prison. As a result, many illegal marijuana sellers will require ID to avoid this (dunno if they’re paying taxes or not, but makes sense to care about this if they are).

Re:Salim Kara stole $2M in coins with a magnet and a car ant... by renewiltord on Tuesday January 02, 2024 @06:42AM (#38840608)
Re:Salim Kara stole $2M in coins with a magnet and a car ant... by forinti on Tuesday January 02, 2024 @08:48AM (#38841539)
Even if it weren't, I'd suppose that the CRA would want to know how he came about the money in order to attest if it was really exempt.
Re:Salim Kara stole $2M in coins with a magnet and a car ant... by dennis_jeeves2 on Tuesday January 02, 2024 @08:37PM (#38849640)
>Is not paying tax on income from theft actually tax fraud?

Well tax on income is theft ( my opinion). So tax on theft income would be theft on theft. Life sure is complicated ;)