Canadian taxes: poor people pay but billionaires don't

 

Dear Chris, Today, C4TF released The Rise and Rise of Tax Havens, a new report showing how the use of tax havens by mega-corporations and the ultra-wealthy has exploded, and how it's been enabled through government policy. Here are some highlights: In 2024, Canada's wealthiest families and largest corporations had at least $682 billion stashed in tax havens, a 165% increase since 2014 Canada loses an estimated $15 billion in tax revenue every year to tax haven abuse — enough to fully fund not just our new dental care program, but a single-payer universal national pharmacare program as well 46 of the 60 corporations on the S&P/TSX 60 index of Canada’s biggest publicly traded companies, have at least one subsidiary in a tax haven These 46 corporations alone avoided $7 billion in taxes due to lower corporate tax rates in foreign jurisdictions in 2024 Five tax information exchange agreements signed in the 2010s led to $47.1 billion being shifted offshore in the five years that followed Read the full report and see how Canadians like you can fight back:

READ: THE RISE AND RISE OF TAX HAVENS

Reports like this don’t always get the coverage they deserve. That’s why we need your help to make sure this research gets directly in the hands of those in power.

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Together, we can hold the ultra-rich, mega-corporations, and the government accountable. Thank you for your continued commitment to building a fairer tax system for everyday people.  In solidarity,  Jared

Jared A. Walker Executive Director | Directeur général Canadians for Tax Fairness | Canadiens pour une fiscalité équitable taxfairness.ca

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