Review & author photo by Theresa Wolfwood
. “Everything was arranged to suit the interests of the powerful to facilitate the operations of the largest firms…”
Deneault, author of Imperial Canada Inc. Legal Haven of Choice for the World’s Mining Industries , published in2012, has expanded his intense research into Canada’s tax laws in his latest book. Nothing has changed since then, in fact our benefits for the rich and powerful continue unabated. Economics and tax law seem like dry, technical stuff, hard for most of us to understand but Deneault makes it clear in his latest book that Canada is complicit in supporting large corporations and helping them pay little or no tax. Something that we need to know.
In Canada: A New Tax Haven, Alain Deneault gives us a concise and understandable history of Canada’s involvement in creating tax havens for the rich in former British colonies in the Caribbean for many decades. Now we appear to have gone one step further and are making Canada itself a tax haven, not only for mining companies but other industries as well. Many politicians have had intimate connections with this corporate bonanza over the years.
We learn that Canada has a free-trade agreement with Panama and no wants similar agreements with countries in the Caribbean. We share our place at the World Bank and the International Monetary Fund with a group of Caribbean tax havens.
The author write that Canada has become one of the most attractive tax havens to foreign interests and that not only does Canada offer one of the lowest corporate tax rates in the world, but a number of loopholes encourage companies to relocate to Canada as if it were Barbados or Bermuda. These are serious revelations that politicians should be addressing in this election and when parliament opens again.
Deneault not only gives us a clear history but he also r gives us direction, for those who possess the political will, to disassemble this affront to Canadians who carry the tax burden of the rich.
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