It's time to Clamp Down on Private Industry in Canada

[mentalfloss]

Corporate Canada investments in top tax havens up 17 per cent in 2015: new data

OTTAWA — New figures on direct foreign investment released by Statistics Canada show that corporate Canada has been pouring billions of dollars more into offshore tax havens.

Canadians for Tax Fairness crunched the numbers and found that Canadian corporations in 2015 invested more than $270 billion in the top 10 tax haven destinations for Canadian capital, an increase of 17 per cent over 2014.

Barbados was the top destination, attracting $79.9 billion, up 14 per cent over the previous year.

Four other countries in Canada's top 10 — Cayman Islands, Bermuda, Switzerland and Hong Kong — all saw year-over-year increases of at least 34 per cent in 2015.

Dennis Howlett of the advocacy group Canadians for Tax Fairness says corporations are using legal measures to route investment through tax havens in order to avoid paying taxes on profits in Canada.

The direct foreign investment figures released today don't include the billions of dollars that individual Canadians have socked away offshore.

Corporate Canada investments in top tax havens up 17 per cent in 2015: new data | National Newswatch

 

[Angstrom]

Only one way to compete with tax heavens. Lower our taxes to compete, and become a tax heaven for companies to want to invest in Canada

 

[petros]

How much does the Corporation of Canada hide offshore?

 

[Angstrom]

How much does the Corporation of Canada hide offshore?

270 billionLast year.
Up 17% from the year before.

 

[taxslave]

Corporate Canada investments in top tax havens up 17 per cent in 2015: new data

OTTAWA — New figures on direct foreign investment released by Statistics Canada show that corporate Canada has been pouring billions of dollars more into offshore tax havens.

Canadians for Tax Fairness crunched the numbers and found that Canadian corporations in 2015 invested more than $270 billion in the top 10 tax haven destinations for Canadian capital, an increase of 17 per cent over 2014.

Barbados was the top destination, attracting $79.9 billion, up 14 per cent over the previous year.

Four other countries in Canada's top 10 — Cayman Islands, Bermuda, Switzerland and Hong Kong — all saw year-over-year increases of at least 34 per cent in 2015.

Dennis Howlett of the advocacy group Canadians for Tax Fairness says corporations are using legal measures to route investment through tax havens in order to avoid paying taxes on profits in Canada.

The direct foreign investment figures released today don't include the billions of dollars that individual Canadians have socked away offshore.

Corporate Canada investments in top tax havens up 17 per cent in 2015: new data | National Newswatch

Have they done anything illegal or immoral?

 

[Angstrom]

Have they done anything illegal or immoral?

They are only trying to save money anyway they can. Because our taxes are relatively much higher then these other places that have no taxes at all.

 

[mentalfloss]

Only one way to compete with tax heavens. Lower our taxes to compete, and become a tax heaven for companies to want to invest in Canada

Except the problem for worse as we lowered taxes.

 

[Angstrom]

Except the problem for worse as we lowered taxes.

So what do you suggest? We spend 270billion dollars in policing and arresting these people, as they massively exodus our country because there is much better opportunity elsewhere to grow their money?

Rich people aren't stuck here like you and me. They will go elsewhere where they have the best chance to grow their money.

If Labour has the right to strike.
Then Capital has the right to Strike.

How can you stop people from taking their money elsewhere if they are unsatisfied with their investment ability in Canada?

I know 4-7 billion $ was taken right out of Alberta at the end of 2015.

Massive infrastructure spending for the next 25 years ever year should do it.

 

[Curious Cdn]

Yeah. Good idea. Let's clamp down on our only mechanism of wealth creation.

 

[mentalfloss]

Yeah. Good idea. Let's clamp down on our only mechanism of wealth creation.

Tax havens are not our only mechanism of wealth creation.

That is ludicrous and stupid.

 

[Angstrom]

Tax havens are not our only mechanism of wealth creation.

That is ludicrous and stupid.

We have no control over territories who decide to, not tax, revenues like these places do. We only have control over ourselves, and that means we must stay relatively competitive compared to these other territories or risk losing Capital investments to these territories.

 

[taxslave]

Tax havens are not our only mechanism of wealth creation.

That is ludicrous and stupid.

You still haven't shown where they have done anything illegal. So what are you planing on clamping down on?

 

[petros]

Which taxes aren't being paid when using an offshore bank?

 

[mentalfloss]

You still haven't shown where they have done anything illegal. So what are you planing on clamping down on?

You have the same dementia as the other curmudgeons.

I've already told you (yes you specifically) that I know it's currently legal. So are big political donations.

We are already stopping the latter and current legality does not prevent us from ceasing tax evasion either.

 

[Angstrom]

You have the same dementia as the other curmudgeons.

I've already told you (yes you specifically) that I know it's currently legal. So are big political donations.

We are already stopping the latter and current legality does not prevent us from ceasing tax evasion either.

Let's do it then. Make it illegal.
I'm willing to wager, the "uncertainty" will land us a huge exodus of capital before the due date kicks in Let's open up the flood gates Floss.

If Labour can strike
Capital can strike