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Results: 106 - 120 of 179
Ted Gallivan
View Ted Gallivan Profile
Ted Gallivan
2020-05-11 14:57
Of course, we have several lists. The complexity relates to the companies' behaviour. Some companies have abusive tax planning that targets Luxembourg, for example. We know which companies are targeting Barbados or other tax shelters.
We are therefore very aware of the schemes used, but we are also aware of the case law in Canada. We look at the cases that are before the courts, hence the complexity of this issue. There's a lot of planning—
View Alistair MacGregor Profile
NDP (BC)
Thank you, Madam Chair.
My first question is this: Will the Liberal government prevent federal bailout funds from going to companies that use tax havens and avoid paying their fair share here in Canada, yes or no?
View Diane Lebouthillier Profile
Lib. (QC)
We are working to make sure that anyone who tries to circumvent the rules faces serious consequences.
We are asking businesses to designate a representative to attest their claims. Any employer receiving the subsidy who is deemed ineligible will have to repay the full amount. Anyone who abuses the program could face fines of up to 225% of the subsidy amount as well as five years in prison.
View Alistair MacGregor Profile
NDP (BC)
Madam Chair, I didn't really hear a “yes” to that question, so I'll repeat it. Does the government really think it's appropriate for tax-avoiding corporations to receive funding provided for by taxpayers?
View Diane Lebouthillier Profile
Lib. (QC)
We will keep going after companies that engage in tax evasion.
I want to be clear. We will target those who are responsible, not innocent workers. An employee is an employee, regardless of who they work for.
The wage subsidy program does not hand a blank cheque over to employers. It is meant to help Canadians pay their bills, keep their jobs and get through the crisis.
View Gabriel Ste-Marie Profile
BQ (QC)
Thank you, Madam Chair.
France, Danmark and Poland will not help businesses that use tax havens. Belgium, Italy, the United Kingdom and even the European Union are looking into the issue. Here, nothing is happening. The Journal de Montréal reported that businesses using tax havens will finally be able to benefit from federal assistance. After suggesting that rules will be tightened, the Prime Minister has gone back on his decision.
There is something paradoxical in the fact that banks and multinationals that have been involved in tax avoidance for years are now calling on taxpayers' solidarity. This is a reminder that the tax system is deeply unfair. Everyone pays their share, except for Bay Street banks and multinationals that are involved in tax havens.
We have a $250-billion deficit, but it is for funding emergency measures that are necessary. Businesses that use tax havens receive their share of assistance, and not only for wage subsidies. I am thinking of the upcoming bailout programs, the purchase of rotten assets or the massive liquidity injection for banks. They are continuing to report their profits in their shells in Barbados or the Bahamas.
Why isn't the government dealing with the legal use of tax havens?
Please, I am asking the minister not to talk to me about the Canada Revenue Agency's efforts to track down fraudsters. I am asking the government to make illegal what is immoral.
View Mona Fortier Profile
Lib. (ON)
Thank you, Madam Chair.
I thank my honourable colleague for his question.
Since the beginning of the crisis, we have implemented an economic plan to meet the needs of workers and Canadians. We focused on programs that will help pay workers, so that they can keep their jobs. This means that the Canada emergency wage subsidy is the solution.
We will continue to ensure that, if a company is evading taxes, it will have to face legal consequences. That includes the potential exclusion from federal emergency programs in a way that targets its decision-makers, especially management, boards of directors and shareholders.
View Gabriel Ste-Marie Profile
BQ (QC)
I want to return to the example of the five major Toronto banks. They are receiving massive liquidity injections. They are benefiting from the purchase of their assets that have lost all value. They are receiving government assistance.
At the same time, they all have one or several branches in tax havens that enable them to report their profits earned in Canada as if they were earned in the empty shell in the tax haven. They are doing this to pay less tax here. That is unacceptable, and it has to change.
Why isn't the government taking action?
I remind the minister that the change can be made through a simple amendment to the Income Tax Regulations, in section 5907, which contains the problematic wording that enables businesses and major banks to avoid paying their taxes here. That is completely legal, but entirely immoral.
View Mona Fortier Profile
Lib. (ON)
Once again, during this unprecedented crisis, we have focused our efforts on enabling workers to keep their jobs. That is why we have implemented the wage subsidy for businesses.
Of course, we will continue to fully prosecute businesses that are avoiding taxation. We are clear: in everything we are doing, we will target those who are responsible, and not innocent workers. An employee is an employee, regardless of whom they work for.
View Gabriel Ste-Marie Profile
BQ (QC)
Madam Chair, I have a question for the minister.
Will the government prosecute banks that legally declare their profits in tax havens?
View Mona Fortier Profile
Lib. (ON)
Since 2015, we have made historic investments in the Canada Revenue Agency to ensure that it has the tools it needs to catch violators and bring them to justice. The CRA currently has more than 50 active investigations on international tax evasion.
As I said earlier, the fight against tax evasion is a priority for our government. We have been very clear: anyone who violates the law to avoid paying their fair share will suffer serious consequences.
View Gabriel Ste-Marie Profile
BQ (QC)
Thank you, Madam Chair.
The Canada Revenue Agency is doing more, but it's not enough. The $1 billion that the Minister of Revenue keeps mentioning is a ridiculous figure. For example, it even includes an employee hired to replace a retired employee. This has nothing to do with the approach in the United States or Europe.
Will the government outlaw the immoral use of tax havens by Toronto banks and multinational companies?
View Mona Fortier Profile
Lib. (ON)
Once again, I want to thank my honourable colleague for his question.
We're going through an unprecedented crisis. We're making efforts to protect workers and their jobs. We'll continue to make the wage subsidy available to ensure that these workers are paid.
View Gabriel Ste-Marie Profile
BQ (QC)
Mr. Chair, many emergency economic measures have been adopted to date, but more needs to be done. Think about our seniors, lobster fishers, researchers and workers in the tourism, cultural, media, agricultural and forestry industries.
The Bloc Québécois expects the government to present an economic update before the summer. We are not talking about the budget, which we expect in the fall with a vision for the economic recovery. We want an update now because we want to get an overall idea of the situation, of the current circumstances and of all the emergency measures that have been adopted piecemeal.
We also expect the government to tell us its intentions for the summer. Will it extend the emergency measures? Will it extend them for specific sectors, such as tourism? Since the Minister of Finance has certain powers, we are asking him to share his intentions with the House.
In that regard, we are in the early stages of an economic recovery, but it may be slow going. Some restaurants will continue to make take-out meals and may soon open their dining rooms but only on Saturdays and Sundays. They will begin to hire their employees back, but only part time. It will be the same thing for hotel operators, who will also be hiring staff back part time. The same goes for SMEs and the manufacturing sector.
We can therefore expect a timid recovery with part-time workers. On one hand, that is encouraging because it marks the beginning of a return to a new normal. On the other hand, it creates new concerns because part-time workers may not earn enough to pay their bills but may earn too much to continue to receive the Canada emergency response benefit. I am therefore asking the government to adapt its emergency programs to take into account the part-time nature of the recovery. The health of our economy depends on it.
That is why we are asking the government to provide an economic update before the summer.
The time for the economic recovery will be in the fall. Hopefully the worst of the crisis will be over by then. It will be the beginning of a new normal. That is why the Bloc Québécois expects the government to table a budget when we return to the House in the fall to present its vision for that recovery. An economic recovery is an opportunity to lay the foundation for the economy of tomorrow. It is time to imagine the future we want. It is time to look forward.
Austrian economist Joseph Schumpeter spoke of creative destruction. Economists use this expression to explain how economic crises are an opportunity to lay a new foundation for the economy of tomorrow.
Without in any way diminishing all of the problems this crisis has created, this pandemic also represents an opportunity to develop a vision for the economy of tomorrow, which should not cling to industries of the last century that are destined to disappear, with or without a pipeline. Tomorrow's economy involves embracing the clean energy transition and encouraging our businesses in that sector, which can shine on the international stage. Earth must make that change to respond to the environmental crisis. Quebec has everything it takes to succeed in that regard.
Tomorrow's economy involves supporting emerging technology companies and the innovation and research sector. It also means stepping up to help Canada's aerospace industry, which produces the cleanest aircraft in the world. Once again, Quebec has everything it takes to embrace this change. We will see whether the neighbouring government is up to the task.
The economic recovery also involves ensuring sustainable local agriculture and strong regional economies. That can be achieved through universal access to high-speed Internet. It is time high-speed Internet was considered an essential service, just as electricity was in the past.
The economic recovery involves supporting our culture and our artists. It also involves recognizing the role of our local and regional media outlets. In a time of fake news and conspiracy theories, reliable information must also be considered an essential service.
We also need to rethink our tax system. The report of the expert panel on sustainable finance provides food for thought in that regard. We need to think about that.
The current crisis brought to light the underfunding of the health care system. Ottawa originally committed to covering half the costs of the health care system. Today, it contributes only about 20% of the total cost and that contribution continues to drop every year. It is time for that to change. We need to be ready to deal with the next health crisis and, to do that, we need to strengthen our health care system.
The current crisis also reminds us just how unfair the tax system is. Everyone is paying his or her share except Toronto's big banks and the multinationals, which use tax havens. Now, in a time of crisis, they are asking the government for help, but the rest of the time, they are nowhere to be found. That needs to change.
We will have a $250-billion deficit. That means everyone needs to contribute and it will not longer be acceptable to use tax havens to avoid paying one's fair share of taxes.
In an interview with Gérald Fillion, tax expert André Lareau, who specializes in tax havens, indicated that $350 billion Canadian is sheltered in only 12 tax havens. Businesses use tax havens for activities related to financing operations and intellectual property.
Mr. Lareau also indicated that the government is aware of all the Canadian money that is being sheltered in tax havens but that it is not taking any action. He added that, given the current deficit, it is high time the government made a major change. He believes that, if we do not take this opportunity to change things, we will never change them. It is high time the government made things that are immoral illegal.
After the 2008 crisis, OECD countries created a working group to crack down on tax havens, or BEPS. We hope that the current crisis will be the time when the government makes the use of tax havens illegal. France, Denmark and Poland will not provide aid to companies that use tax havens. Belgium, Italy, the United Kingdom and the European Union are currently considering the issue. Here, nothing is being done.
As I said earlier, the Journal de Montréal reported that businesses using tax havens will finally be able to benefit from federal assistance. After suggesting that the government would be placing restrictions on that, the Prime Minister changed his mind. That is unacceptable.
Canada is lagging behind other OECD countries in the fight against tax havens, and even when it comes to the illegal use of tax havens.
The Minister of National Revenue can boast all she likes about how her agency is doing more, but the numbers do not add up. For example, the $1 billion announced to crack down on tax cheats includes the salary of the person who was hired to replace someone who was retiring. That is ridiculous. This is not new money. It is nothing like what is being done in the United States or Europe.
The government also has a lax approach when it comes to credit card companies. They are doing what they want and getting off scot-free. In Canada, interchange fees are 10 times higher than they are in Europe and Australia. The government needs to act as quickly as possible. Visa and MasterCard are taking too much of our businesses' profits. Use of these credit cards is widespread in this time of crisis. Action is urgently needed.
Even today, my nation must rely on Ottawa's goodwill. The room to manoeuvre is here. In times of crisis, a central government is in the best position to implement emergency and recovery measures. The Bloc Québécois is satisfied with the various measures taken to date. The Bloc is also proud that it was able to contribute, in its own way, in order to better meet the needs of Quebeckers. However, that does not change the fact that the administration of my nation depends on the goodwill of its neighbour.
We have to accept decisions that we find unsatisfactory. Take for example the underfunding of our health care system. Ottawa is pulling out at the expense of our seniors and our sick. High-speed Internet is another example. Since Ottawa is giving Bell and Rogers carte blanche, our regions are paying the price and are not developing their full potential. Finally, let us also think of our farmers, our artists, our seniors and our media outlets.
I spoke about the government's lax approach to credit cards and the legal use of tax havens. In 2020, we are still not masters in our own house.
That being said, I would like to recap. We are asking the government to present an economic update by this summer so that we will know what direction it is going in and we can get an overall idea of the situation. With regard to the vision for the recovery, we expect the government to present a budget when the House comes back in the fall.
View Gabriel Ste-Marie Profile
BQ (QC)
In your speech you also said it was important not to lower taxes. We all know that these are some exceptional emergency economic measures. Forecasts so far are for a $250-billion deficit. That's comparable to what other G20 countries are doing, proportionally to their economies. Everyone will obviously need to do their part to pay back that debt when the time comes.
You said it was important not to lower taxes. I'd like to hear your position on the use of tax havens. Poland has said that, in this time of emergency, tax havens must no longer be used. Denmark has said that companies that want to access assistance measures cannot use tax havens, and France followed suit with a similar declaration made by its finance minister.
What's your position on the use of tax havens?
Results: 106 - 120 of 179 | Page: 8 of 12

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