Tag: Tax System

Canada to Rethink Tax Policies After Losing Billions in Corporate Tax Revenue

Blog
Canada plans to bolster its corporate tax collection effectiveness with increased funds for government auditors and greater corporate transparency enforcement, in the wake of two recent reports detailing how the Canada Revenue Agency (CRA) loses billions in tax revenue every year. Last month, the CRA published the Tax Gap and…

Canada’s Complex Tax System Lost Millions in Revenue

Blog
As Canada’s tax system continues to grow in complexity, it may be losing its ability to function as intended. The country lost an estimated $169 million in potential tax revenue on foreign digital products and services in 2017, according to an Auditor General’s report released on May 7, 2019. The…