An anonymous source, 11 million leaked documents, and a year-long investigation effort by 400 journalists in over 80 countries have yielded the Panama Papers, an unprecedented look at tax havens.
Canadians for Tax Fairness
Canadians for Fair Taxation promotes a progressive tax system, based on ability to pay, to fund the public services and programs required to meet our social, economic and environmental needs.
The Liberal government has caved on the campaign promise to close the stock option loophole. Too bad, because it costs Canada $1 billion a year and Canadians definitely don't get their money's worth.
Their bosses didn't listen when CRA staff argued that they should pursue a criminal investigation or at least impose large penalties on KPMG clients caught using an offshore tax-avoidance scheme.
We've let the principles of fair taxation slide. Tax-dodging has become commonplace because of staff cuts and under-capacity at the CRA and not taking serious action to counter tax havens.
It is estimated that there is $199 billion of Canadian money offshore. It is likely much higher. That translates into at least $8 billion of lost tax revenue each and every year.
Justin Trudeau will be at the opening of the new Google development team headquarters. But will he take a moment to pull Google executives aside and ask them to pay their fair share of federal taxes?
Canada is bleeding money because our tax system hasn't caught up to twenty-first century practices. An overhaul is long overdue.
Before memories fade of Harper and this awful ordeal, there are some critical house-cleaning items to take care of.
Did you know that at least five top Canadian companies pay less than five per cent corporate income tax?
G20 countries -- including Canada –- are among the biggest losers when U.S. multinationals avoid paying taxes where they do business.