“It’s time for the Canadian government to review and renegotiate tax treaties with havens that enable this behaviour.” — Dennis Howlett, executive director of Canadians for Tax Fairness
“It is too early to be certain whether this dip is an emerging trend, or just a blip as has happened before. But this could be a sign that global efforts to curb corporate profit shifting to tax havens may be paying off." — Dennis Howlett, executive director of Canadians for Tax Fairness
Weak international response to tackling tax havens costs Canada $8 billion a year in lost tax revenue. But Howlett says the failure of international cooperation in tax matters costs developing countries $70–120 billion per year.
Canadians for Tax Fairness says it is estimated that Canada loses at least $7.8 billion in revenues every year because of tax dodging facilitated by tax havens.
Want pharmacare? You could have it tomorrow.
“Companies like Google should be the subject of a leaders’ debate not sponsoring them." — Dennis Howlett, executive director of Canadians for Tax Fairness
In 2014, Canadian corporations sent nearly $200 billion offshore, costing us nearly $8 billion in tax revenue.
Ottawa (12 May 2015) — Figures released by Canadians for Tax Fairness (CTF) show that the amount of money Canadian corporations are keeping in tax havens has jumped to record levels.
Canadian corporations had $199 billion in tax havens in 2014 — the most recent year for which statistics are available. That’s up from $187 billion a year earlier.
As Premiers meet in Charlottetown, PEI, Canadians for Tax Fairness remind them that they have a role in the oversight of the Canada Revenue Agency.
Want to know more about corporate tax evasion? Listen to Dennis Howlett from Canadians for Tax Fairness on CBC Radio's Sunday Edition, this Sunday, March 16, at 9 a.m., to hear how much revenue Canada is losing and what we can do about it.
Canadian money sent off shore means less being invested in Canada. This means the loss of billions of dollars in tax revenue for quality public services and fewer new jobs being created in Canada.