Tuesday, October 26, 2021

We're Number 19!


Yes, that's right.

According to the fine folks at Newsweek and the Financial Secrecy Institute, Canada is number 19 on the world list of the very 'best' tax havens for those who are looking for such a thing:
Canada has long been considered a tax haven due to its very low executive tax rates for businesses, and has also struggled with being a money-laundering centre, thanks to weakness on beneficial ownership and transparency.

This means that it is easy to operate a shell company out of Canada...

Meanwhile, here in Lotusland we wait for December to arrive...
Three days of closing submissions at the inquiry into money laundering started today (Oct 15th) ahead of a final report and recommendations that are due in December.

The provincial government appointed B.C. Supreme Court Justice Austin Cullen in 2019 to lead the inquiry after several reports said the flow of hundreds of millions of dollars in illegal cash linked to organized crime affected the province's real estate, luxury vehicle and gaming sectors...

And where does this slot us?....Why right between the exalted company of Malta and Qatar!


1 comment:

e.a.f. said...

OMG were we ever that young? Guess we all were, here is proof. Can't even remember Charlie Watts being that young. He does look intense at times in the video, which in later years you didn't see. Jagger, well he has a few more wrinkles today, but still sounds the same. Great. Thanks for the video. 1969, omg, that was several lives ago, but still can remember it, vaguely.

Now on to money washing. We do have a lot of very clean money in Canada. Some years ago I read an article and the author wrote it was easier in canada to open a company than a library account. You needed less I.D. to open the company. Nothing has changed since that time. At some level this must work for a whole lot of people in this country, along with the politicians. To be ranked 19th is better than being No. 1 but really given all the dictatorships and crooks running countries around the world, it is an embarassment to have Canada ranked 19th. If we do not change this we have the potential to become a country dependent upon this type of activity. We are attractive to money launders because we have a good reputation. Its time for some one to pay attention, like a couple of Cabinet Ministers and the P.MN. or forget them and just ask Freeland to take care of things. It might get done.

Given both the Conservatives and Liberals have been in office with this situation, we can not expect them to change. we do offer the .01%ers deals on all sorts of things, such as tax breaks, when they get caught they don't have to pay fines--yes Harper made sure they didn't have to, but if you and I are late with filing our taxes and owe money not only do we have to pay the money, we are fined and the fines in comparison to what we owed really is quite substantial given the rich who were exempted from fines.

Interesting song to go along with the article