Applause erupted at a mutual fund forum in Toronto today when keynote speaker Steve Forbes suggested Canada could be a “beacon to the world” if only taxes were slashed.“You would have a long term boom, capital flowing in, brains being unleashed in a way never seen before,” said the president and CEO of Forbes Inc. […]
First step is to move from four rates to two
Report cautions the finance minister not to make the same mistake next time
While Canada ranks 99th out of 178 for total tax rate and fairs moderately well in ease of paying taxes and administering taxes there is room for improvement in Canada’s corporate taxation system, says PricewatershousCoopers (PwC).The study from the World Bank, IFC, and PwC concludes that there is a win-win opportunity for governments and firms […]
Amendments aimed at aligning tax law with new ASB standards
GST will be reduced to 5% while the basic personal amount for individuals increases
Tax burdens as a proportion of GDP rose in 14 of the 26 countries
Tax laws are highly confusing because there are rules, exceptions to the rules, exceptions to the exceptions, followed by overriding rules
RST exemption applies to goods sold prior to July 20, 2008
New regulations will make the tax system more efficient