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Results: 121 - 135 of 179
Denis Bolduc
View Denis Bolduc Profile
Denis Bolduc
2020-05-05 16:13
When the Prime Minister first started getting questions on this topic, in light of what was going on in Poland, Denmark and France, as you mentioned, Mr. Trudeau seemed to be somewhat open. Unfortunately, he later retracted and took a step back.
We believe that if companies are getting assistance, that assistance should, of course, benefit the companies, but it should also benefit the workers. These companies must certainly not be using tricks or tax strategies to use tax havens in order to pay little or no tax.
It's hard to assess how many hundreds of millions of dollars—some even say billions of dollars a year—the Canadian tax system loses to attempts to maximize corporate tax strategies. Any assistance must benefit the companies, but it must also benefit the workers. We should take a lesson from what France, Denmark and Poland are doing.
View Peter Julian Profile
NDP (BC)
Thank you to all of our witnesses for being here today. We certainly hope that your families and everyone in your neighbourhood is safe and healthy.
I'd like to address my questions, to start, to Mr. Neumann.
Thank you very much for being here, and a big shout-out to steelworkers across the country, who are often the front-line workers keeping us healthy, keeping us fed and making sure that our society is still functioning.
Mr. Neumann, you said something very eloquent, that we're all in this together, but we're not in it equally, and so I want to contrast two things and ask for your comments.
First, Jagmeet Singh and our caucus have been pushing for a universal benefit. The reality is that the CERB is already set up as a universal benefit, but many people are excluded. We had to fight hard to get three million people added, and yet there are millions who are still excluded from the CERB, even if they need it.
Despite those conditions and the government's refusal to put in a universal benefit.... As you mentioned, as far as corporate support is concerned, there are no conditions for the banking sector, no conditions regarding overseas tax havens. In fact, as you mentioned, many other countries have put in place conditions, such as not using public funds to for stock buybacks or for executive bonuses. Yet, the government refuses to put in any conditions in place there.
I'd like your comments in contrasting that universality for bigger business and yet for small or regular Canadians there's not the universal support available.
How harmful is it that we don't have those conditions in place for bigger businesses? Does it make any sense that we give them public funds that could be used for overseas tax havens or executive bonuses, stock buybacks or dividends?
Ken Neumann
View Ken Neumann Profile
Ken Neumann
2020-05-05 16:17
Thank you very much, Peter, for that question and for your comments about the steelworkers.
As I said in my testimony, we represent workers from a very broad base. There should be no worker who should be left behind. The fact is that we're in a global pandemic. This is not just in Canada; it's around the world.
This is an opportunity for the Government of Canada to shine. These are our hard-earned tax dollars, and each and everyone of us contributes to the coffers.
The fact is that it's prudent for the government to make sure we don't have corporations that basically try to avoid their taxes with these tax havens and somehow be at the front of the line to get some of the government benefits. There are politicians elected—and all of you folks have been out there—to make it a better world for all of us. How dare would we now think that someone who has been trying to avoid paying their fair taxes should benefit from that? That's the first one.
On universality, there are many things you can talk about. You can talk about the health care system. You can talk about what has been exposed in this pandemic in regard to how we treat our elders. There are a variety of issues.
This is an opportunity for all politicians. I can see there is a lot of commonality in what's taking place. This is unprecedented for any of us in our lifetimes to witness what we are witnessing, and we're not out of it yet. This is why we need to have a government that's focused, along with the opposition parties that are pushing it in the right direction. As I said at the beginning, there should be no one left behind.
We have numerous examples of what I've relayed to you in my testimony in regard to people who have—
View Laurel Collins Profile
NDP (BC)
View Laurel Collins Profile
2020-05-05 12:27
Mr. Chair, the government is weirdly committed to eligibility criteria that result in regular people not getting the support they need, but not so committed to criteria for corporations and billionaires who get our help. If a company is cheating the public, using offshore tax havens not to pay its fair share, it should not be eligible for government bailouts or benefits. Other countries, like Poland, Denmark and France, have made this commitment, and if they can do it, so can we.
The Prime Minister said one thing one day and another the next. Will he commit now that if a company has money in offshore tax havens, it will not receive public funds?
View Justin Trudeau Profile
Lib. (QC)
Mr. Chair, the measures we've put forward are focused on helping workers who lose their jobs, regardless of the companies they work for. It is a shame to hear the NDP, which used to be the party of workers, choosing to judge workers by which multinational they work for. We have moved forward with a wage subsidy such that the employers are obliged to pass every single penny on to the workers. That is not help for the companies. That is help for the workers, and that has been our focus all the way through: ordinary Canadians who need support because they are unable to work because of COVID-19. That has been our priority, and that is what Canadians need right now.
Of course, we continue to have very strong measures to fight against tax avoidance and tax evasion. We spent a billion dollars to strengthen our—
Ms. Laurel Collins: Mr. Chair, can I ask my last question?
Right Hon. Justin Trudeau: We will continue to do that.
View Gabriel Ste-Marie Profile
BQ (QC)
Thank you, Mr. Chair.
In an interview with Gérald Fillion, tax expert André Lareau, who specializes in tax havens, pointed out that $350 billion Canadian is parked in just 12 tax havens. Companies are using tax havens for financing, operations and intellectual property activities. Mr. Lareau also notes that the government is aware that all of this Canadian money is stashed in tax havens but is doing nothing about it. He said that it's time for Canada to tackle the problem given that it has a $250-billion deficit, and that if it doesn't act now to change things, it never will.
Is the government going to seize this opportunity to outlaw the corporate use of tax havens?
View Diane Lebouthillier Profile
Lib. (QC)
Mr. Chair, as soon as we took office, in 2015, our government made cracking down on tax evaders in Canada and abroad a priority. That's precisely why we put nearly a billion dollars towards that effort. I realize that my fellow member is impatient, but he has to understand that this is a very complex issue.
Under our leadership, in three years, the Canada Revenue Agency has undertaken twice as many audits related to offshore tax evasion as it did in the 10 years the Conservatives were in power.
As we speak, the agency is conducting more than 50 criminal investigations tied to international tax evasion. I repeat, this is a top priority for our government.
View Gabriel Ste-Marie Profile
BQ (QC)
You're right, I am very impatient, because whenever I bring up the fact that companies are using tax havens legally, the minister misses the point and tells me that she is going after fraudsters. I am talking about the legal use of tax havens by companies.
Since Parliament began sitting virtually, it's been mentioned a few times that Denmark and Poland have decided to deal with the issue. Even France's finance minister, Bruno Le Maire, said that companies with subsidiaries in tax havens would not be eligible for public assistance.
We hear the Prime Minister and other government officials say all the time that the wage subsidies are going to workers, so I'd like to cite another example—banks. The government is injecting huge amounts of cash into the financial system and repurchasing troubled assets in massive quantities, and yet, the five major banks in Toronto, alone, are continuing to save billions of dollars every year by artificially redirecting their profits to tax havens.
This is unacceptable. This has nothing to do with wages for workers, and everything to do with the repurchase of troubled assets, cash flow and billions of dollars that the government could be going after.
Is the government going to seize this opportunity to make the corporate use of tax havens illegal?
View Diane Lebouthillier Profile
Lib. (QC)
Mr. Chair, our government is taking unprecedented steps through the Canada emergency wage subsidy measure to support businesses and workers affected by COVID-19. This is largely a trust-based program, and we will not tolerate abuse. Anyone who tries to bypass the rules will face serious consequences.
Applicants have to designate an individual to attest to the truth of their claim. What's more, any employer receiving the subsidy who is deemed ineligible will have to repay the full amount. Anyone who abuses the program could face a fine of up to 225% of the wage subsidy amount and up to five years in prison. The Canada Revenue Agency also has a myriad of tools at its disposal to detect a fraudulent claim.
As I mentioned, cracking down on tax evasion is a priority for our government.
View Gabriel Ste-Marie Profile
BQ (QC)
Thank you, Mr. Chair.
That's an excellent answer, but it has nothing to do with my question.
The Minister of Finance has the power to fix the problem now. Although completely immoral, the use of tax havens by companies is legal under section 5907 of the Income Tax Regulations. Through simple regulatory amendments, the finance minister could put an end to this kind of abuse.
We are going to have a $250-billion deficit to pay off, and everyone is going to have to chip in, including the rich who are currently taking advantage of the system.
View Diane Lebouthillier Profile
Lib. (QC)
Mr. Chair, thanks to a historic billion-dollar investment, our government has given the agency the resources it needs to do the job, and we are starting to see results.
I set up an expert advisory committee to provide us with guidance and recommendations. We tightened the rules for the voluntary disclosures program. We signed tax information exchange agreements with a number of countries. We audit four jurisdictions a year. We also work closely with the OECD.
View Paul Manly Profile
GP (BC)
Many small businesses do not meet the eligibility requirements for the various relief programs on offer, particularly sole proprietorships. I have a long list of businesses in my riding that are missing out. At the same time, we have large companies in this country that use tax havens and loopholes to avoid paying their fair share of public services.
Will the government ensure that the needs of small businesses are met and withhold relief from corporations that use tax havens to avoid paying taxes in Canada?
View Mary Ng Profile
Lib. (ON)
I want to thank the hon. member for the question.
Small businesses are indeed incredibly important to all of our communities across the country. That is why we have implemented many measures to help them weather this difficult period in COVID-19. Whether it is a small business loan, a wage subsidy or commercial rent assistance, or just lowering the cost by deferring GST or HST or customs duties, many measures have been put forward to help our small businesses through this very difficult time.
View Claude DeBellefeuille Profile
BQ (QC)
Thank you, Madam Chair.
I don't want to talk about tax cheats. I don't want to talk about the $1 billion that the government used to track down tax cheats. I want to ask the minister why she isn't taking this opportunity to learn from countries that are putting an end to tax avoidance in tax havens, a legal but immoral practice in this day and age.
Can she explain why she isn't showing leadership by convincing cabinet to change course and eliminate the legal measure known as tax avoidance, which enables companies to avoid paying taxes and put money in tax havens?
View Diane Lebouthillier Profile
Lib. (QC)
Madam Chair, as soon as our government took office in 2015, we made it a priority to crack down on tax cheats. Our government's historic investments of almost $1 billion have ensured that the agency can access the necessary resources for its work. We're already starting to see the results.
As I was saying, I established an expert advisory committee to advise us. We've also been working on tightening the rules of the voluntary disclosures program. We've entered into country-by-country agreements that make it possible to share information. We're auditing four countries a year. We're working with the OECD. Currently, over 50 criminal investigations are related to international tax evasion.
Results: 121 - 135 of 179 | Page: 9 of 12

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