May 9, 2015 - 07:21 — Timothy Gillespie
Curious?
Despite claims that raising corporate taxes will lead to "capital flight," Corporate Canada has managed to smash its old record, sending close to $200 billion to tax havens – even as Canadian corporations enjoy their lowest tax rates in recent history (and among the lowest in the world) thanks to Stephen Harper's Conservatives.
New data from Statistics Canada show the amount of money flowing from Corporate Canada into the world's top 10 tax havens hit a record $199 billion last year. And if that doesn't surprise you, get this: the second biggest destination for money flowing out of Canada is now Barbados.
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