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Our top 10 tax fairness moments of 2023

12 January 2024

Photo: PiggyBank

cash several countries John McArthur Unsplash

As we speed through the early days of 2024, here’s a look back at some of our top accomplishments of 2023:

C4TF Top Tax Wins of 2023

1. Historic UN tax vote

This November, the UN voted to begin the process of adopting a UN tax convention. This historic moment was celebrated by C4TF and our tax justice allies around the globe. Developing nations and tax justice activists have been calling for a more inclusive, transparent, and effective process for fixing the global tax system for many years.

2. Windfall tax on Canada’s big banks 

The federal government implemented a pandemic profits tax on Canada’s biggest banks and insurance companies. The Canada Recovery Dividend will redistribute a portion of the grotesque profits that banks amassed during the pandemic and permanent surtax will be levied every year on profits over $100 million.

3. C4TF produces groundbreaking research on role of taxes in the fight against climate change

Canadians for Tax Fairness released a novel research report on climate change and tax justice. It explores the economic links between inequality and climate change and how our tax system can make the wealthiest corporations pay for their outsized role in the climate crisis. The work is already informing policy discussions in Canada and abroad.

4. Breakthrough for corporate transparency 

Canada has become notorious for money laundering. After seven years of pressing the government with our End-Snow Washing coalition, we were thrilled that Canada fast-tracked legislation to create a public registry of corporate beneficial owners. This victory is proof that persistence pays off. 

5. Canada adopts automatic tax filing

After years of calling on the government to make tax filing easier for Canadians, C4TF is pleased that Budget 2023 commits to introducing automatic tax filing. The government is prioritizing low-income individuals who face barriers to filing taxes and often miss out on substantial tax benefits.

6. C4TF research mobilizes calls for windfall tax on more large corporations

Throughout 2023, Canadians for Tax Fairness turned up the heat with ongoing research and commentary on reining in corporate profiteering with an excess profits tax. Our research on corporate profits was cited by the House committee studying food price inflation, which recommended the government consider a windfall tax on Canada’s grocery chains. Our regular media appearances on national TV and talk shows highlighted how new taxes can deter profiteering and ease affordability challenges.

7. New tax for big banks, financial institutions

Another positive tax measure in Budget 2023 included a proposed tax on the dividends received by banks and financial institutions. The tax is expected to generate $3.15 billion over five years.

8. Shocking report on Canadian corporate tax dodgers profiting off public funds

This year, C4TF’s groundbreaking report exposed how some of the largest tax-avoiding corporations in Canada exploited pandemic subsidies, bolstered profits, and made their shareholders richer. Our research received broad media coverage and attention in the House of Commons from multiple parties, strengthening calls for a windfall tax to make corporations pay the public back.

9. Canada strengthens legislation to counter tax avoidance

As promised in Budget 2023, the federal government is updating Canada’s General Anti-Avoidance Rule (GAAR). These changes will make it easier for Canada to pursue and win tax avoidance cases against individuals and large corporations.

10. Canada to tax digital giants

It is long overdue that companies like Amazon and Netflix pay a digital services tax in Canada. This law has been held up for three years while the government has waited for the OECD to negotiate an international approach. With that process stalled, the government has promised to move forward with a DST in 2024. Sign our petition here to hold them to their word!

More tax justice in 2024

As you can see, we’ve covered a wide range of tax fairness pursuits in 2023. We are so grateful to all of our supporters who have helped us achieve these impactful goals. In 2024, we’re as determined as ever to stand up to corporate conspirators, misinformation miscreants, and pandemic profiteers. Pitch in here to help us continue our fight for tax fairness!

Photo: PiggyBank