Canada's Tax Regime: Complexity and Competitiveness in Difficult Times
The complexity of a country's tax system and cost of tax compliance can impact its global competitiveness. According to PricewaterhouseCoopers' Total Tax Contribution 2008 — Canada's tax regime: complexity and competitiveness in difficult times, Canada faces major challenges in these areas.
Canada's mix of federal, provincial and territorial taxes ranks as the second most complex among major countries where Total Tax Contribution studies were conducted. Our multi-jurisdictional tax system translates into 295 potential tax obligations for Canadian businesses. The compliance burden poses enormous cost and risk for corporations and as well as government tax officials. For instance, survey participants reported an average of 1,696 days on tax compliance in 2007, the equivalent of eight full-time employees dealing solely with Canadian tax compliance.
Using our Total Tax Contribution framework, PwC conducted this second annual survey for the Canadian Council of Chief Executives (CCCE). To provide a more comprehensive picture of the tax positions of large businesses in Canada, this year's study expands and complements our 2007 report by incorporating provincial tax data and comparing Canadian findings with parallel TTC projects in seven other countries. Read the PDF below to obtain a clearer picture of how Canada's complex tax system impacts businesses.
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