Canada’s New Government Improves Tax Fairness With Anti-Tax-Haven Initiative

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The following News Release or Speech has just been posted on the Finance Canada Site

Ottawa, May 14, 2007

The Honourable Jim Flaherty, Minister of Finance, today announced further details on the government’s Anti-Tax-Haven Initiative set out in Budget 2007. The initiative focuses on improving tax fairness in Canada by preventing the use of tax havens and other means to avoid paying tax. Canada’s current tax rules allow multinational corporations to avoid paying taxes by getting a double deduction for a single expense relating to a foreign investment.

“When multinational corporations use this tax loophole, Canadian taxpayers are indirectly subsidizing their international operations,” said Minister Flaherty. “Our goal is to improve the fairness of our tax system and further reduce taxes for hard-working Canadians while preserving Canada’s overall tax advantage for our globally successful companies.”

The Anti-Tax-Haven Initiative will:



Other Related Articles:

* Notes for Remarks by the Honourable Jim Flaherty, Minister of Finance, to the Toronto Board of Trade
* Notes on the Initiative
* Backgrounder – International Tax Avoidance and “Tax Havens”


I read that headline as “Canada’s New Government Imposes Tax Fairness…”

And I’m getting a little sick of them calling it a “New” government.

Shhhh! You don’t want anybody HEAR you make fun of the “idiotic buzzwords coined by political hacks.” (Source)

Although, whenever I read “Canada’s New Government” .. I seem to speak it outloud in a mocking sort of way emphasizing ‘New’ .. and find it kind of funny actually – but, that’s me! 😀

I’d never seen that link before. That’s a hilarious story!

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