Author Topic: Why Are there still tax havens?  (Read 75 times)

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Offline the_squid

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Why Are there still tax havens?
« on: April 30, 2020, 05:23:52 pm »
https://www.thestar.com/news/canada/2020/04/22/trudeau-refuses-calls-to-exclude-tax-haven-companies-from-covid-19-bailout.html

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“Is it morally right for a business to do whatever it takes to avoid paying taxes, use accounting strategies to avoid paying taxes, and use tax havens to avoid paying taxes, then ask the state for help and get it?” asked BQ MP Alain Therrien.

“(The government) can tell these people that, from now on, if they want government assistance, they will have to pay their taxes and bring their money back from tax havens.”

Trudeau and other members of the Liberal government were adamant that while tax avoidance is a problem, this is not the time to solve it.

We know the Cons didn’t care one iota about corporations avoiding taxes by using “tax havens”, but why have the Libs let this slide? 

My theory: I think they’re beholden to the same corporate lobbyists as the Cons. 

https://www.policyalternatives.ca/publications/monitor/oh-canada-our-home-and-native-tax-haven
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It might be troubling for many Canadians to learn that their country has become a tax and laundering haven, but this is precisely what leaks like the Panama Papers have revealed. Internal records of the offshore firm at the centre of the scandal, Mossack Fonseca, show employees pointing to Canada as a particularly easy place to incorporate shell companies while advertising the country as a "good place to create tax planning structures to minimize taxes.”

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Offline Gorgeous Graham

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Re: Why Are there still tax havens?
« Reply #1 on: April 30, 2020, 10:21:19 pm »
I agree, it's about corruption.  Ottawa is not immune to corporate influence in the least.  Palms can be greased in a lot of ways, beyond political donations.
"The economy has been relatively strong but Trudeau has chosen to run deficits year after year & has said will continue to do so well into the future.  This means we'll be in a worse & more vulnerable financial position when a recession hits when we HAVE to run deficits again." - Me, Oct. 3, 2019

Offline Gorgeous Graham

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Re: Why Are there still tax havens?
« Reply #2 on: April 30, 2020, 10:24:03 pm »
Trudeau does have a point, their wage subsidy program is to help workers keep their jobs. But it's also about keeping businesses afloat.  If these businesses aren't paying their share of taxes I don't think they should receive the subsidies.  Their employees can sign up for the CERB benefit.

But these tax schemes should have been plugged long before this all happened.
"The economy has been relatively strong but Trudeau has chosen to run deficits year after year & has said will continue to do so well into the future.  This means we'll be in a worse & more vulnerable financial position when a recession hits when we HAVE to run deficits again." - Me, Oct. 3, 2019

Offline kimmy

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Re: Why Are there still tax havens?
« Reply #3 on: May 01, 2020, 03:54:24 pm »
We know the Cons didn’t care one iota about corporations avoiding taxes by using “tax havens”, but why have the Libs let this slide? 

My theory: I think they’re beholden to the same corporate lobbyists as the Cons. 

Of course. They're just as cozy with KPMG as the Conservatives.  Remember the Panama Papers etc?  Rich Liberals are just as comfy using tax havens as rich Conservatives. Some notable names on this list:

https://pressprogress.ca/heres-a-running-list-of-liberals-and-conservatives-linked-to-offshore-tax-havens/

 -k
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Offline Shady

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Re: Why Are there still tax havens?
« Reply #4 on: May 01, 2020, 05:00:02 pm »
Why don’t have any jurisdiction in the Cayman Islands etc.  That’s why they exist.
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Offline the_squid

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Re: Why Are there still tax havens?
« Reply #5 on: May 01, 2020, 08:16:24 pm »
Why don’t have any jurisdiction in the Cayman Islands etc.  That’s why they exist.

Are you drunk?  That's not even a sentence.
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