Canadians For Tax Fairness, Transparency International Canada, and Publish What You Pay Canada are calling on Innovation, Science and Economic Development to immediately publish the results of its winter 2020 consultation about how a publicly accessible registry listing beneficial ownership information for private corporations can address Canada’s money laundering problem. “It’s been over a year since ISED and Finance consulted … Read more
Canadians for Tax Fairness has released a Fair Tax Recovery Plan showing how the federal government could raise more than $70 billion in annual revenues by introducing progressive tax reforms in coming budgets. “This year’s budget absolutely needs to focus on the recovery and building back better with a stronger social safety net, improved public services like pharmacare … Read more
Canadians for Tax Fairness urges Finance Minister and Deputy Prime Minister Chrystia Freeland (University-Rosedale, Ont.) not to provide Pfizer tax breaks or preferential concessions in the upcoming budget. “We know large pharmaceutical corporations have benefited enormously from corporate tax breaks and loopholes, but to see Pfizer’s steep decline in taxes, at the same time that it is aggressively lobbying during a … Read more
Canadians for Tax Fairness is calling for reforms in the wake of a new report, Tax Dodging by a Canadian Crown Corporation: Revera Living Making a Killing by the Centre for International Corporate Tax Accountability and Research, exposing how long-term care giant Revera—owned by the Public Sector Pension Investment Board—has aggressively dodged taxes for years. “Unfortunately, Canada has very weak corporate … Read more
Canada Revenue Agency’s Dec. 17 tax gap report confirms that investments in compliance and enforcement pay off, but the federal government must do more to close the tax gap, particularly for large corporations. The pay gap for individual filers decreased by 76 per cent while the gap for corporations only declined by 38 per cent. “The federal … Read more
Canadians for Tax Fairness welcomes the federal Liberals’ commitments to reduce emissions and seriously address climate change. “These measures will help transition to a cleaner and more sustainable economy. A carbon tax can be an important tool for achieving that, but it isn’t the only tool. It must be complemented with additional strong actions on … Read more
“We’re encouraged by the government’s commitment to continue to support individuals and businesses through the crisis and to ensure e-commerce giants pay their fair share of tax, but additional measures are needed to reduce inequalities and to pay for the costs of the crisis,” said Toby Sanger, an economist and director of Canadians for Tax … Read more
Canadians for Tax Fairness issued a new report, It’s time to tax extreme wealth inequality, which shows that Canada’s top billionaires grew their wealth by more than $50 billion between April and October of this year. “As Finance Minister Chrystia Freeland (University-Rosedale, Ont.) prepares to table the government’s fall economic statement and consider ways to pay for the crisis and … Read more
A new global study by the UK-based Tax Justice Network estimates that Canada loses $7.9 billion annually to tax havens, and that Canada is responsible for $10.5 billion in tax losses in other countries. “Offshore tax dodging by wealthy Canadians and large corporations is robbing governments of many billions in foregone revenues that could be used to pay … Read more
A coalition of organizations including Canadians for Tax Fairness is urging the federal government to crack down on financial crime after Canadian banks, shell companies, and individuals were identified in a global investigation by the International Consortium of Investigative Journalists and BuzzFeed News into suspicious financial activity. “For years, government policies have enabled international criminals to … Read more
