The Toronto Star has published an editorial today calling for action in the upcoming federal budget.
Wednesday March 7, 2013
Ottawa – The House of Commons Finance Committee investigating the impact of tax havens on Canada’s economy should immediately call Parliamentary Budget Officer Kevin Page to produce a report on lost revenues. Earlier this week, Page released a document indicating a method to estimate such losses. Last month, Canada Revenue Agency officials dismissed requests from the committee for such an estimate.
Public and media interest about the impact of tax havens on the Canadian economy has prompted the House of Commons Finance Committee to televise its hearings..
Click here if you want to see if MPs are asking the right questions.
Can tax activists and bankers agree on the future of tax havens?
Pour yourself a coffee and listen to the live proceedings of the House of Commons Finance Committee. The session starts at 845 am (eastern) on Thursday, February 14. This link is only good for the live proceedings.
Dennis Howlett, CFTF's Executive Director is asking Canadians for some back up.
He will be at the House of Commons Finance Committee on Thursday, February 14th on behalf of thousands of Canadians who want a tax system that is fair.
MPs will be hearing from the Canadian Bankers Association at that same meeting. They represent some of the biggest users of tax havens in Canada
|This week, MPs on the House of Commons Finance Committee started four days of hearings to investigate the growing use of tax havens in Canada. The hearings will result in a report to the Minister of Finance about what Canada should be doing about this. It is a practice that’s robbing federal and provincial budgets of billions of dollars.|
C4TF’s Executive Director, Dennis Howlett attended Day One of the meeting - these are his notes:
This morning's Halifax Chronicle Herald quotes Nova Scotia's Finance Minister as saying she is worried that the province won't be able to balance next year's budget. Provincial officials, she says, are crunching numbers from Ottawa that will tell the tale.
The House of Commons Finance Committee calls for the federal government to "examine further ways to combat tax evasion and conduct a comprehensive review of the tax system to help ensure its fairness and neutrality, and to close loopholes that allow certain groups to avoid paying their “fair share of tax.”
These recommendations were contained in the Report on their Pre-Budget Consultations which was tabled on December 13, 2012.
When provincial budgets lose billions because the feds don't have a grip on the growing use of tax havens - that's no small matter.
But as far as C4TF can tell, the November 2012 Premiers Meeting in Halifax was the first time the phrase "tax havens" came up in conversation at that regular gathering.
Canadians for Tax Fairness and Nova Scotians for Tax Fairness will be holding a Press Conference in Room Windsor 1 at the Prince George Hotel at 1725 Market Street in Halifax, at 10:00am to 11:00am on Friday, November 23, to address their request that the Premiers support the “Bring our Tax Dollars Home” campaign. This initiative targets the use of Tax Havens, by some Canadians, to hide their wealth and to avoid federal and provincial taxation.
In a letter to the Premiers, CTF Coordinator Dennis Howlett wrote,