M-69 Combatting tax evasion
43rd Parliament, 2nd Session
Motion Text
That, given that the pandemic and the pressure it is putting on public finances has created the urgent need to close the loopholes being taken advantage of by some taxpayers through the use of tax havens, in the opinion of the House, the government should: (a) amend the Income Tax Act and the Income Tax Regulations to ensure that income that Canadian corporations repatriate from their subsidiaries in tax havens ceases to be exempt from tax in Canada; (b) review the concept of permanent establishment so that income reported by shell companies created abroad by Canadian taxpayers for tax purposes is taxed in Canada; (c) require banks and other federally regulated financial institutions to disclose, in their annual reports, a list of their foreign subsidiaries and the amount of tax they would have been subject to had their income been reported in Canada; (d) review the tax regime applicable to digital multinationals, whose operations do not depend on having a physical presence, to tax them based on where they conduct business rather than where they reside; (e) work toward establishing a global registry of actual beneficiaries of shell companies to more effectively combat tax evasion; and (f) use the global financial crisis caused by the pandemic to launch a strong offensive at the Organisation for Economic Co-operation and Development against tax havens with the aim of eradicating them.
Latest Activity
- June 9, 2021
- Decision Made - Agreed To
History
- February 17, 2021
-
Placed on Notice
- February 22, 2021
-
Placed in the Order of Precedence
- April 30, 2021
- Debated
- June 8, 2021
- Debated
- June 9, 2021
- Decision Made - Agreed To
Joint Seconders (1)
Jointly seconding a private Member's motion is a formal way for up to 20 Members to show support for the motion before it is called for debate. They are displayed in the order they were received by the Clerk of the House.
Jointly seconded on March 22, 2021
Paul Manly
Nanaimo—Ladysmith