Archived Canada's biggest corporations have more than 1,000 subsidiaries in tax havens, report says (thestar.com)
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Archived Canada's biggest corporations have more than 1,000 subsidiaries in tax havens, report says (thestar.com)
submitted ago by salvia_d
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[–] derram ago
https://archive.fo/SYEr0 | :
'Canada’s 60 biggest corporations have more than 1,000 subsidiaries in offshore tax havens, depriving government coffers of up to $15 billion annually, according to a new report being published Wednesday. '
'While some companies may have legitimate business operations in offshore tax havens, the report points out Canadian companies barely employ anyone in tax havens compared to the number of people they employ in other countries. '
'They employ just 1.1 people per billion invested in Bermuda; 6.2 per billion in the Cayman Islands. '
'Canadian companies employ 1,200 people for every billion dollars invested in Mexico and 2,700 people for every billion invested in Germany. '
'Subsidiaries in tax havens facilitate a tax manoeuvre called “profit shifting” which allows big corporations to move their profits from high tax countries like Canada to places where there is no tax, like the British Virgin Islands or the Bahamas. '
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