On the Financial Secrecy Index, Canada is the 17th most secretive country in the world according to the London-based coalition of researchers and activists the Tax Justice Network.
The index was released Thursday (November 7) and shows a number of wealthy nations in the top 20 including the United States, Germany and Japan.
The citizens group Canadians for Tax Fairness, which is part of the Tax Justice Network, says Canada’s ranking in the top 20 is due to a number of factors including low taxation of business, a regulatory haven for extractive industries, Canada’s participation in developing tax havens particularly in the Caribbean, and the ease of setting up shell companies in Canada.
RCI’s Wojtek Gwiazda spoke to Dennis Howlett, the Executive Director of Canadians for Tax Fairness to find out more.
Financial Secrecy Index list of countries – here
Financial Secrecy Index – Report on Canada ( 8-page pdf) – here
Canadians for Tax Fairness – Dirty Little Secrets: Canada Makes Top 20 Global List – here
Canadians for Tax Fairness website – www.taxfairness.ca