Canadians for Tax Fairness has tracked the Liberal government's promises on fair taxation since 2015, most of which remain undelivered, and proposed measures that could be implemented in Budget 2022, to raise over $92 billion for the priorities that the new Liberal/NDP agreement has outlined.
By Erika Beauchesne
7 July 2020
Canadian mining giant Cameco Corp has won another court victory in a precedent-setting tax case that reflects massive loopholes for large multinational corporations in our tax system.
While the criteria state that corporations that have been found criminally guilty of tax evasion can’t apply, the reality is that there are no large corporations in Canada that have recently been criminally convicted of tax evasion
Pressure is mounting on governments to ensure COVID-19 funding doesn’t go to companies that exploit tax havens or use public funds to pad their profits.
The #MauritiusLeaks tax haven leak from the International Consortium of Investigative Journalists (ICIJ) include just a few Canadian connections, but they are barely the tip of the iceberg of Canadian corporations using Mauritius as a tax haven for their operations in Africa.
The House of Commons has struck down a Private Member’s Bill to combat international tax haven use. Senator Percy Downe’s Bill-243 would have required Canada Revenue Agency to report on Canada’s tax gap.
CBC investigative journalist Harvey Cashore uncovered that the Canada Revenue Agency (CRA) recently reached an out of court settlement with wealthy KPMG clients who were caught using what the CRA called a grossly negligent offshore tax sham. This is a disturbing development for many reasons.
Countries around the world lose at least US$500 billion in annual tax revenues from international corporate tax avoidance and profit shifting, including through tax havens.
But we now finally have an opportunity to make some real progress on international corporate tax reform, with proposals outlined in a new paper just published by the Independent Commission for International Corporate Tax Reform.
