Tax avoidance: Canadian companies transferred $120B to Luxembourg, study says

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 companies operate in several sectors including finance, natural resources, food and technology, and include big names such as Thomson Reuters, Alimentation Couche-Tard and Saputo Inc.

The study says it's not possible to measure how much potential Canadian tax revenue has been lost, because the profits transferred to Luxembourg come from companies' activities in multiple countries.The Shopping Trends team is independent of the journalists at CTV News. We may earn a commission when you use our links to shop.

Ambulances carrying wounded Palestinians were able to leave Gaza through the Rafah border crossing on Wednesday, along with more than 300 foreign nationals—but apart from reports of one Canadian making it out, hundreds of other Canadians were still waiting to hear when they would be allowed to do the same.A Saskatoon woman accused of faking her own death, and the death of her son, has pleaded guilty to three of nine charges she’s facing.

More than 3,600 Palestinian children were killed in the first 25 days of the war between Israel and Hamas, according to Gaza's Hamas-run Health Ministry.A constitutional challenge of recent Ontario legislation that prevents the undercover filming of factory farms and the animals kept on them kicked off in a Toronto courthouse on Monday morning.The images and stories coming out of the war between Israel and Hamas are horrifying.

Suzana Thayer's story began as an investigation into a romance scam. Bilked out of more than $200,000, her search for love took her from the world of online dating to Ethiopia to meet the 'man of her dreams' -- and eventually to a Hong Kong prison after cocaine was found hidden inside buttons on clothing in her suitcase.A Canadian woman has been released from a Hong Kong prison after spending 270 days behind bars on cocaine smuggling charges. Suzana Thayer, 65, from Barrie, Ont.

Two of Canada’s most famous musicians have filed a lawsuit against their former bandmates, alleging they are misleading the public who are coming to see them perform.Online game opened Alberta mom's accounts to hackers

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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 ...
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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.
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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.
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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.
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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.
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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.
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