To the Reader:
Thank you for your interest in this paper, and in Canada’s international tax policy and its impact on Canada’s prosperity.
Most elements of Canada’s current system of international taxation have been in place for over 35 years. In many respects, the system has fostered an environment in which Canadian businesses can compete while treating foreign businesses in Canada appropriately. In fact, some aspects of Canada’s system have become a model for other countries seeking to improve the tax treatment of business and investment income flowing across their borders.
But as globalization continues, Canada must keep pace. Cross-border investment is rising, investment capital pools are expanding, and global transactions are becoming ever more sophisticated and complex. It is important to ensure that Canada’s system of international taxation continues to promote the competitiveness of Canadian businesses internationally and to attract new foreign investment to Canada. In doing so, Canadians can continue to benefit from the opportunities and wealth that come with international business activity.
In November 2007, the Government of Canada created the Advisory Panel on Canada’s System of International Taxation to study and recommend measures to further improve the competitiveness, efficiency and fairness of this system. We are honoured to serve as its Chair and Vice-Chair. We are equally honoured to be joined on this panel by an exceptional group of individuals drawn from a spectrum of public and private sector organizations. Each Panel member brings a unique perspective and shares the goal of ensuring our international taxation system makes our country’s businesses more competitive for the benefit of all Canadians. The Panel members are James Barton Love, QC, Nick Pantaleo, FCA, Finn Poschmann, Guy Saint-Pierre, CC, and Cathy Williams.
This consultation paper, Enhancing Canada’s International Tax Advantage, poses a series of questions about Canada’s international taxation system and provides some of our initial views. Together, these questions and views frame the debate we wish to engage in with Canadians. How can Canada’s international taxation system do a better job of supporting the competitiveness of our businesses? What aspects of the current system should we preserve? What aspects should we improve? What aspects should we revisit to ensure that our businesses can compete in Canada and abroad so Canadians can continue to prosper?
On behalf of the Panel, we invite you to review this paper or the related Summary and to contribute to this debate by submitting your views in writing by July 15, 2008. By considering the concerns and ideas of as many interested parties as possible, the Panel can craft recommendations that will bolster Canada’s international tax advantage and ensure it endures in the years to come.
Sincerely,
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| Peter C. Godsoe, OC Chair Advisory Panel on Canada’s System of International Taxation |
Kevin J. Dancey, FCA Vice-Chair Advisory Panel on Canada’s System of International Taxation |