The rise and rise of tax havens
Summary
Report
Introduction: Canada has a big tax haven problem
Media release: Use of tax havens by wealthy Canadians and corporations has increased by 165% since 2014
For immediate release: July 16, 2025
Fernando Garci-Crespo Santaló
Fernando Garci-Crespo Santaló is a public policy advocate, scholar, and graduate student at the University of British Columbia. Fernando’s work as a researcher has included projects at UBC, the OECD, and the Global Methane Hub, covering subjects such as food systems, climate change, energy systems, political economy, and, most recently, tax fairness.
Facts
26 June 2025
Big corporations and the ultra-rich are using tax havens to hide hundreds of billions from taxes every year while everyday Canadians are left holding the bag. In 2024 alone, wealthy Canadians and large corporations had at least $682 billion stashed in tax havens — a 165% increase since 2014.
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