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Canadian Trends: Exporting Illicit Drugs… Importing Corporate Head Offices… and Tax Evasion?

June 30, 2009

Corwin has recently highlighted Canada’s growing reputation as a global pusher of certain illegal drugs, including meth and ecstasy. That is an interesting juxtaposition for this story about Canada’s low corporate tax rates being very favorable to foreign (read: American) businesses, with many companies like Tim Horton’s moving from Delaware to Canada for tax purposes (does anyone else find it weird that Tim Horton’s HQ wasn’t already in Canada?).

Of course, not everyone views this with rose-tinted-business goggles. This commentator cites Canada as a new global “tax haven”. That’s a little dramatic, I’d say. But part of the underlying message bears repeating: maybe it’s time we spend a little closer attention to what kind of gaping loopholes in our radically byzantine Income Tax Act have in the offering.

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