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Canada’s Largest Corporations Have 1,000+ Subsidiaries In Offshore Tax Havens

Canada’s Largest Corporations Have 1,000+ Subsidiaries In Offshore Tax Havens

Canada’s Largest Corporations Have 1,000+ Subsidiaries In Offshore Tax Havens

Source: The Huffington Post

The vast majority of the largest publicly-traded companies in Canada collectively have more than 1,000 subsidiaries in offshore tax havens, according to a new report from Canadians for Tax Fairness.

Of the 60 largest companies listed on the Toronto Stock Exchange, all but four have subsidiaries in known tax havens, the report stated.

 It said the use of those subsidiaries costs Canada $10 billion to $15 billion annually in lost tax revenue — enough to pay for a universal pharmacare program, or free university tuition across the country.

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