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Canada needs a minimum tax on corporate book profits
Thursday, March 2nd, 2023
In 2021, tax avoidance by 123 of Canada’s largest corporations cost the public $30 billion… Corporate tax avoidance nearly doubled in 2021, compared to the pre-pandemic average. More robust policies are needed… A minimum tax on book profits is the major revenue generator within the Biden administration’s Inflation Reduction Act… If Canada had a 15-per-cent minimum tax on book profits in 2021, it would have reduced the tax gap by $11 billion.
Tags: budget, featured, standard of living, tax
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