Without an accurate idea of how much tax large businesses pay, how can Canada’s tax regime compete with increasing globalization? The amount of tax these companies pay affects the country’s ability to attract foreign investment and nurture high-quality, well-paid jobs. To determine where Canada stands globally, we need a clearer picture of the country’s tax system.
PricewaterhouseCoopers’ Total Tax Contribution: Canada’s tax regime: complexity and competitiveness provides insight into the composition and amount of tax Canada’s largest companies pay. Using our Total Tax Contribution framework, we collaborated with the Canadian Council of Chief Executives (CCCE) to survey and benchmark 39 enterprises to improve their understanding of their entire contribution in business taxes by identifying:
- Business taxes borne by a company (for example, income, payroll and property tax, customs duties and recycling levies)
- Taxes collected on behalf of the government (such as GST, provincial sales taxes and employee payroll contributions)
- Other payments to government (such as levies, rents and royalties)
- Tax compliance costs incurred to prepare, collect and remit business taxes borne and collected
The report aims to inform the debate on government tax policy that will help develop a tax regime that is both competitive internationally and effective domestically. It also highlights the need to consider all business taxes, including the administrative burden they impose on companies.
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