Canada-Barbados tax deal loopholes revealed

[maryjane48]

An exclusive CBC News hidden-camera investigation into the world of offshore banking found professionals in Canada and Barbados willing to help hide business profits in Barbados by exploiting loopholes in a long-standing tax saving arrangement between the two countries.

“My advice to [the Canada Revenue Agency] would be, every time you see a Barbados [company] in the structure, investigate it,” said an individual who used to run one of Canada’s largest offshore companies and also spent time in prison.

For decades, Canadian companies have flocked to Barbados with their cash in order to legally avoid paying Canadian taxes. If a Canadian company wants to expand its business outside of Canada, it can create a subsidiary in Barbados where it can park its international profits. This way, it legally doesn’t have to pay Canadian taxes on those profits.

http://www.cbc.ca/news/canada/tax-avoid ... -1.1913228


talk about a rightwing scam , theres no excuse for this

[tgm929]

talk about a rightwing scam , theres no excuse for this

You should really do some research before you make these posts.

(attacks removed - fluffy)

[logicalview]

thank goodness we have the CBC to "expose" a "tax scam" that only has been operating for decades, and used by countries all over the world. Only the brain-dead leftists working at the CBC and the even dumber leftists who believe everything they pump out would fall for this nonsense.

Also - Apple Corp., who boasts having the likes of Al Gore on their board (or at least he was on their board until recently) takes advantage of these same treaties and moves billions off shore every year where they pay virtually no tax. So you are saying that Apple, loved by all left-wing nuts everywhere, is part of this conspiracy??? Oh no!!!

[hobbyguy]

Don't forget that this whole off-shoring of money has consequences. In the years before Argentina went broke, such practices were rampant.

Do you want Canada to go broke???

[maryjane48]

Also - Apple Corp., who boasts having the likes of Al Gore on their board (or at least he was on their board until recently) takes advantage of these same treaties and moves billions off shore every year where they pay virtually no tax. So you are saying that Apple, loved by all left-wing nuts everywhere, is part of this conspiracy??? Oh no!!!

how does apple have anything to do with canada? fact is this needs to stop , it is not a who else is doing it , it is a lets get this stopped

[maryjane48]

i know when people start calling others names on here i have posted something to make their blood pressure rise lol kinda same as telling someone a ugly truth about themselves

[Rwede]

i know when people start calling others names on here i have posted something to make their blood pressure rise lol kinda same as telling someone a ugly truth about themselves

Someone even called me a "cowboy" just the other day on these boards. Must have been an ugly truth in my post.

viewtopic.php?f=53&p=1549508#p1549508

[maryjane48]

it was in response to you referring to natives as I n d i a ns

[fluffy]

Cool it - fluffy

[logicalview]

how does apple have anything to do with canada?

LOL

I just love it when people who have no clue about international tax law apply their skewed morals and backwards politics to off-shore finance. I also love how Apple seems to be the only company engaging in off-shore transactions that gets cut a free pass. The hypocrisy from the left just never knows any bounds.

[Captain Awesome]

If this is legal (loopholes) then go ahead and use it. If it's illegal - nail them.

Easy as that.

[logicalview]

If this is legal (loopholes) then go ahead and use it. If it's illegal - nail them.

Easy as that.

exactly.

And if what is currently "legal" doesn't fit your ethical standards, then go ahead and lobby for the rules to be changed. Run for Parliament even. I just don't get how one company can engage in it, and it be termed a "fraud" or a "scam", and be subject to boycott, yet Apple can do it every day, and people still camp out for their crappy I-phones.

[driveangry]

^ Maybe it depends on WHO the stock holders are ???

[maryjane48]

the thread is about canada not apple

[logicalview]

the thread is about canada not apple

No it's not. It's about international tax law. And *removed\Jo* complete ignorance of how it operates, and about the CBC being idiots and feeding that ignorance. Defund the CBC. They are a joke.