The Harper Government has quietly shelved its plans to crack down on so-called tax “treaty shopping” by large multinational corporations.
As recently as a year ago, the Conservatives were railing against the rampant “abuse” of international tax treaties by companies seeking to duck Canadian taxes. Back in 2013, then-finance minister Jim Flaherty lambasted these aggressive corporate tax-avoidance schemes, saying closing these corporate tax loopholes would “keep taxes low for Canadian families – families who work hard, play by the rules and pay their taxes.”
But due to intense lobbying from resource companies (read big oil) and their tax advisers, the Harperites have apparently given up on closing these loopholes. Continue reading