Dear ,
Today, C4TF released The Rise and Rise of Tax Havens, a new report showing how the use of tax havens by mega-corporations and the ultra-wealthy has exploded, and how it's been enabled through government policy.
Here are some highlights:
- In 2024, Canada's wealthiest families and largest corporations had at least $682 billion stashed in tax havens, a 165% increase since 2014
- Canada loses an estimated $15 billion in tax revenue every year to tax haven abuse — enough to fully fund not just our new dental care program, but a single-payer universal national pharmacare program as well
- 46 of the 60 corporations on the S&P/TSX 60 index of Canada’s biggest publicly traded companies, have at least one subsidiary in a tax haven
- These 46 corporations alone avoided $7 billion in taxes due to lower corporate tax rates in foreign jurisdictions in 2024
- Five tax information exchange agreements signed in the 2010s led to $47.1 billion being shifted offshore in the five years that followed
Read the full report and see how Canadians like you can fight back:
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