Policies

D-13

Off-shoring of Taxable Income

Moved by National Women’s Liberal Commission

WHEREAS the Canadian Government loses individual and corporate income tax revenue from the shifting of profits and income from Canada into low-tax countries to an estimated $6-7.8 billion each year;

WHEREAS Canada currently neither measures the revenue lost nor publishes tax gap estimates;

WHEREAS the Mandate Letter of the Minister of National Revenue calls for investing additional resources "to help the CRA crack down on tax evaders and work with international partners to adopt strategies to combat tax avoidance";

WHEREAS the 2016 federal budget increased Canadian Revenue Agency (CRA) funds, but it is not clear if funds will be earmarked for special units to track offshore accounts;

BE IT RESOLVED that the Liberal Party of Canada call on the Government of Canada to take strong action to ensure that Canadians and Canadian companies no longer use tax havens to avoid paying their fair share of taxes, by such means as: revisiting Bill S-226 to mandate transparency from the Canadian Revenue Agency on the data required to estimate Canada’s tax gap and to report findings to the Parliamentary Budget Office; establishing special units to identify tax loopholes that enable tax off-shoring and to investigate Canadian corporations and individuals hiding income taxable in Canada in offshore accounts; reviewing Whistleblower Protection Policy; and, publicizing Offshore Tax Informant Program 2013 and improving phone service for all Canadian Time Zones on the CRA Hotline 1-855-345-9042.