The research published today by IRIS says 59 Canadian companies — including 33 headquartered in Quebec — transferred some $119.8 billion in net profits to the European low-tax country over a period of about 10 years.
The study notes that tax avoidance strategies aren't illegal but violate the"spirit" of the law because they permit companies to pay ultra-low taxes in jurisdictions other than where the majority of their economic activities occur.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tax avoidance: Canadian companies transferred $120B to Luxembourg, study saysMONTREAL — A Quebec research institute says some of Canada's biggest companies have transferred billions of dollars in profits to Luxembourg to avoid paying ...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Tax avoidance: Canadian companies transferred $120B to Luxembourg, study saysA Quebec research institute says some of Canada's biggest companies have transferred billions of dollars in profits to Luxembourg to avoid paying domestic taxes.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Tax avoidance: Canadian companies transferred $120B to Luxembourg, study saysMONTREAL — A Quebec research institute says some of Canada's biggest companies have transferred billions of dollars in profits to Luxembourg to avoid paying domestic taxes.
Source: sudburydotcom - 🏆 6. / 89 Read more »
Tax avoidance: Canadian companies transferred $120B to Luxembourg, study saysMONTREAL — A Quebec research institute says some of Canada's biggest companies have transferred billions of dollars in profits to Luxembourg to avoid paying domestic taxes.
Source: PGCitizen - 🏆 65. / 51 Read more »