C4TF REPORT: PANDEMIC PROFITS AND THE PUBLIC PURSE
Tax Dodging and Wage Subsidies in 50 Firms
By D.T. Cochrane
13 May 2021
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- Download or view the full PDF report here, including a list of the 50 companies.
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- 50 of Canada’s largest companies made record profits in 2020
- At least 7 of these companies, or their subsidiaries, collected federal wage subsidies through the CEWS program
- 104 high-profit Canadian companies had pandemic profit margins greater than their historical averages
- 37 of the record-setting companies had an effective tax rate below their combined federal-provincial statutory rate
- 34 of the companies had at least one identified subsidiary in a tax haven
- Cash-holding increased for 39 of the companies by a combined C$26.4 billion