Quebec losing $800 million a year from tax evasion

Quebec losing $800 million a year from tax evasion

Quebec City (Quebec) 2 October 2015 – In a report which has surfaced through the Quebec Ministry of Finance office, it is estimated that the province loses about $800 million a year from companies not paying their taxes by using tax shelters. There is also the question of too many people or businesses doing work “under the table” or on the black market.

The National assembly is tackling the issue and would like certain companies and accounting firms to present themselves in front of the legislature to explain how and why they manage to avoid paying their taxes.

It is a well known fact that companies can send their money or “profits” to tax shelter countries like the Bahamas or Switzerland to protect them from having to pay the taxes they would normally have to pay to the province.

The parliamentary commission, headed by Raymond Bernier, wants to see the people responsible for the finances of large corporations sit down with the government and discuss the matter on a voluntary basis.

Those meetings are not happening and now there is a question of whether or not the government should subpoena the companies involved, forcing them to come to the table.

The financial critic for the Parti Québécois wants to force the companies hand and have them participate as does the Parti Solidaire.

The Liberals however prefer to re-contact the guilty parties hoping they present themselves voluntarily.

Categories: Business, News, Politics

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