Advocacy group calls out corporate 'tax avoidance,' cites billions lost in new report

The report analyzed the financial statements of 123 Canadian corporations worth at least $2 billion and found the effective or actual tax rate paid by these companies was about 15 per cent in 2021 — significantly lower than the 26.5 per cent average of the combined federal and provincial tax rate.Sign up to receive daily headline news from the Ottawa SUN, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.

Tax filings could shed some light on why these corporations paid less in taxes, but Cochrane says they don’t provide enough detail to understand the gap in taxes paid.Cochrane said the group is ready to “sit down and chat” with Lebouthillier about the report’s findings, which he said suggest claims are being made for profits in low-tax jurisdictions “that are questionable, to say the least.”

One of the proposed measures would prevent the use of foreign corporations to avoid paying Canadian taxes.

No one is owed, and no one owes. This is the basis to decent society.

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