Shut down tax havens and bring our tax dollars home!

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.

This brazen, widespread tax dodging costs Canada an estimated $15 billion a year in lost tax revenue. According to the Parliamentary Budget Officer, that’s enough to fund a full national pharmacare program and the dental care program.

But instead of trying to stop it, governments have encouraged behaviour that bleeds billions of tax dollars each year out of communities across the country and makes life more expensive for every Canadian.

For decades, tax haven use has skyrocketed because Canada has continued to sign unfair tax agreements that reward corporations for shifting profits to foreign subsidiaries.

We estimate that signing just five tax agreements with other countries in the early 2010s led to $47.1 billion being stashed in tax havens over the following five years.

Let’s end this, once and for all. We can stop Canadian corporations from using tax havens to make their Canadian profits tax-free, starting with ending tax agreements with known tax havens.

Send a message to Ottawa now: It’s time to crack down on tax havens and bring our tax dollars home!