There are numerous large Canadian multi-national corporations (e.
There are numerous large Canadian multi-national corporations (e.g., Petro Canada, Loblaws, Barrick Gold, Guildan, Bell Canada, BMO) that rely on the use of foreign subsidiaries to transfer profits from Canada to lower tax jurisdictions. Some estimate that the capital outflow from Canada to these offshore tax havens is somewhere between $10-$15 billion annually. While these practices are considered completely legal, they may or not be […]
