After the world-wide recession, governments have been struggling for revenues, running deficits and taking a much closer look at their tax base. The public has raised their own concerns with respect to corporate taxation — are large multinationals paying their fair share of tax? As the debate heats up, corporate taxation has become an issue of increasing interest with governments, politicians, the general public and as such, is quickly making its way into boardrooms across Canada.
There is a raft of uncertainty in the future, so directors and management need to understand their tax strategy and how to best prepare for the changes ahead. Any change in tax rules represents the potential for both risk and opportunity.