Author Topic: Why Are there still tax havens?  (Read 109 times)

0 Members and 1 Guest are viewing this topic.

Offline Squidward von Squidderson

  • Full Member
  • ***
  • Posts: 5630
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

Quote
“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
Quote
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.”

Share on Facebook Share on Twitter

Agree Agree x 2 Winner Winner x 1 View List

Offline Queefer Sutherland

  • Hero Member
  • *****
  • Posts: 10187
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.
"Nipples is one of the great minds of our time!" - Bubbermiley

Offline Queefer Sutherland

  • Hero Member
  • *****
  • Posts: 10187
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.
"Nipples is one of the great minds of our time!" - Bubbermiley

Offline kimmy

  • Full Member
  • ***
  • Posts: 5033
  • Location: Kim City BC
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
Paris - London - New York - Kim City
Agree Agree x 1 View List

guest78

  • Guest
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.

Offline Squidward von Squidderson

  • Full Member
  • ***
  • Posts: 5630
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.
Funny Funny x 1 View List