Alexandria Ocasio-Cortez, got the media and internet buzzing recently when she said that the U.S. should introduce a tax rate of 70% on incomes of over $10 million to help fund a Green New Deal.
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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 Senate of Canada unanimously approved a bill that will require the Canada Revenue Agency (CRA) to annually publish a list of those convicted of tax evasion.
Canada’s Revenue Agency is more lenient in many ways with international and large businesses and taxpayers with offshore transactions than they are with individual Canadians.
Cameco uses subsidiaries and related companies in known tax-haven countries to lower their taxes in Canada. This often-used strategy by corporations is costing Canadians over $10 billion per year.
Canadians for Tax Fairness's submission to the federal government presents this and other evidence that Canada should not be engaging in a race to the bottom on corporate taxes.
2017 Canadian direct investment in just the 11 most popular Canadian tax havens remains over $299 billion, up from $6.6 billion in 1987. This does not include investment in other tax havens.
Canadians need to see that there are swift and substantial consequences for individuals and companies that are shirking their tax responsibilities or Canadians will lose faith in the system.
The federal government is letting large foreign corporations such as Google, Netflix, Amazon, Facebook, Uber and others off the hook on paying taxes on digital products and services in Canada.
The steps the federal and provincial governments are making are important, the measures are not clear and robust enough to effectively combat money laundering, tax evasion and other crimes.
Canadians for Tax Fairness has submitted a brief to the House of Commons Finance Committee for their Pre-Budget Consultations that identified some ways the government could raise over $23 billion.