19 October 2018
The Canadian Standing Senate Committee on Banking, Trade and Commerce has tabled its final report entitled: Canada: Still open for business? The report concerns new and emerging issues for Canadian importers and exporters in North American and global markets, including in terms of the competitivity of Canada’s tax system in light of the U.S. Tax Cuts and Jobs Act. In this regard, the committee recommends that:
The report concludes by noting that the committee recognizes that making major changes to Canada’s tax system will not be an easy thing to do, but if changes are not made, Canada will be left behind, and economic prosperity will suffer.
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