Posts Tagged ‘globalization’

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Canadian corporations may have avoided $25-billion or more in taxes in 2018: PBO

Friday, June 21st, 2019

Canadian companies transferred more than $1.6-trillion in 2018 to low-tax countries known as offshore financial centres and conduits to these nations, according to a new report by the Parliamentary Budget Officer… if just 10 per cent of that amount was transferred to avoid taxes, that would mean Ottawa lost out on $25-billion in federal revenue. Billions more would have been lost in provincial corporate taxes.

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Canadian companies failed to pay billions of taxes owed, new CRA report reveals

Tuesday, June 18th, 2019

Canadian corporations failed to pay between $9.4 billion and $11.4 billion in taxes in 2014, according to the first comprehensive analysis of the country’s corporate “tax gap” — the difference between taxes legally owed and those collected — being released today by the Canada Revenue Agency. That means 24 to 29 per cent of all the corporate income tax legally due in Canada didn’t get paid that year.

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Federal government to launch Equality Fund to entrench women’s rights and gender equality

Sunday, June 2nd, 2019

… the Equality Fund… will be used to raise even more money from philanthropists and community organizations, and then divvied up among underfunded organizations that advocate for women’s rights and gender equality… The government money is the stimulus, but the longevity of the fund and its ability to act quickly and with flexibility come from the power of the non-governmental organizations, philanthropists and foundations involved in the collaboration.

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Closing the Biggest Money Laundering Loophole

Friday, May 31st, 2019

Unfortunately, Canada’s anti-money-laundering laws are among the weakest of Western liberal democracies. We have no public registry of beneficial ownership and we generally don’t require any beneficial ownership disclosure whatsoever. That makes us doubly attractive to international money launderers… as more countries implement public registries of beneficial ownership, more of the world’s dirty money will be redirected to Canada.

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Carbon tax smackdown: what is this argument really about?

Saturday, May 25th, 2019

… carbon taxes, so far as they raise the prices of things, impose an especially heavy burden on the poor. That would be a real concern, if the federal government were not also providing rebates covering the cost of the tax… The precedent for this was the GST tax credit, which like the carbon tax rebate more than compensates poor families for whatever it adds to the cost of living…

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Why Canada saw a 60% increase in foreign direct investment last year

Thursday, May 23rd, 2019

… even more important to global capital flows is talent – the new currency attracting more and more investors. Again, Canada is leading the way. Our universities, colleges and vocational institutions continue to produce top-tier talent that fuels this country’s growth…. in 2018 a record high 572,415 international students came to Canada. These students can now fast-track to permanent residency and continue building Canada’s status as the world’s most educated work force.

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Why our politics pits rural parties against urban parties

Sunday, May 19th, 2019

Rahsaan Maxwell, a political scientist at the University of North Carolina… finds that cities’ less “nationalist” and more “cosmopolitan” politics are caused less by the transformative effects of city life and more by the sorts of people who move from rural areas to cities. Those people tend to be even more cosmopolitan-minded than people who spend their entire lives in cities. On the other hand… people who move from cities to rural areas are not, and do not become, supporters of country parties and their views.

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Traditional Economics Has Absolutely Screwed Us

Monday, May 13th, 2019

Conventional capitalism is failing because it considers the services provided by nature such as oxygen and food production as free and limitless. Only an economist could fail to see how a collapsing biosphere might be bad for business… The UN study found that $325 billion in subsides shoveled at the fossil fuel industry around the world actually result in $5 trillion in costs to degraded natural systems on which our survival depends.

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Fight Against Dirty Money Needs Tougher Measures

Tuesday, May 7th, 2019

Obstacles to following the dirty money could be reduced by creating a new criminal offence: a false declaration of beneficial ownership, whether made on a public registry or submitted by a customer to a Reporting Entity. Not only would such an offence bring more integrity to the beneficial-ownership information being disclosed; it would also provide a solid base from which law enforcement agencies could conduct investigations of suspicious transactions

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NDP revives Tory bill curbing taxpayer-funded partisan ads in bid to embarrass Ford’s government

Wednesday, April 17th, 2019

NDP MPP Taras Natyshak is tabling private member’s legislation identical to a bill introduced by Tory MPP Sylvia Jones two years ago that would revive the auditor general’s powers to veto commercials deemed to be politically partisan… “Voting against this bill would be the height of hypocrisy,” he said, noting Jones and much of Ford’s cabinet strongly endorsed the measures in 2017.

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