Successive federal governments have talked tough on crime, terrorism and tax avoidance, while doing nothing to change weak rules about transparency for corporate ownership that facilitated those activities. While more is needed, it is encouraging to see governments recognizing the need to shut down the snow haven.
“Dollars parked in offshore accounts mean lower corporate tax revenues, and thus individual Canadians have to pay higher taxes.” — Dennis Howlett, executive director of Canadians for Tax Fairness
“When an organization with the IMF’s track record is calling for measures to reduce income inequality, you know income inequality has reached a level where it is harming the economy” — Larry Brown, NUPGE President
“What’s clear from the CCPA report is that it’s people with high incomes who benefit the most from the private corporation loophole.” — Larry Brown, NUPGE President
"The data is clear: it’s a small group of high-income earners — mainly the super-rich — benefiting from these loopholes, and they’ll be the group most affected by closing them" — Dennis Howlett, executive director of Canadians for Tax Fairness
“While NUPGE supports closing the private corporation tax loophole, we can’t afford to lose sight of the fact that closing one loophole is not enough to make our tax system fair.” — Larry Brown, NUPGE President
“One of the biggest differences we make in the lives of others is when we pay our taxes. It is our taxes that pay for the public services our communities depend on to survive. A corporation that is dodging taxes cannot claim to be morally responsible.” — Larry Brown, NUPGE President.
Growing concern that vested interests will scuttle this small but important step towards a fairer tax system.
“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 goes without saying that Bombardier, the Royal Bank, the TD Bank, Potash Corporation are not emerging companies or start ups and their wealthy CEOs do not need subsidies from regular taxpayers.