92
Tax avoidance: Canadian companies transferred $120B to Luxembourg, study says
(www.winnipegfreepress.com)
this post was submitted on 03 Nov 2023
92 points (97.9% liked)
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Canada needs to implement a 99% tax on corporate money being moved offshore.
That's an awesome way to make sure no foreign corporations ever invest in Canada ever again.
So we should allow them to come to Canada to do business, make billions of dollars, take those billions out of Canada, and not pay taxes? Look at what the foreign oil companies are doing in Alberta. They're extracting resources in Canada, making billions, taking those billions out of Canada, and not even paying to clean up after themselves. Do we really want that kind of foreign investment? Why don't we require them to keep that money in Canada benefiting Canadians? They're still making profit, they're just not avoiding their obligations to Candians.
Sounds like a good way to encourage Canadian entrepreneurship.
When local business is getting routinely overwhelmed and forced out of business by foreign companies with exceedingly deep pockets (see: the Walmart effect), maybe unfettered foreign "investment" isn't the best thing for the country and its citizens?