Let’s Stop the Multinational Tax Dodge

[Oscar]

Canadians for Tax Fairness - Provincial Tour - Dates and Meeting locations.

Nov 18 10:16PM -0600

*Let’s Stop the Multinational Tax Dodge* Dennis Howlett – Executive Director of Canadians for Tax Fairness will visit Saskatchewan. Dennis will talk about the Multinational Tax Dodge and how that is impacting the Canadian Economy.

Canadians for Tax Fairness are running a very successful campaign against the Multinational Tax Dodge. They have done great national coverage targeting in on Cameco – Saskatchewan based multinational – and major tax dodger.

*Nov. 24th** - Regina* - University of Regina - RIC 209 - 7 pm - contact Simon Enoch.

*Nov. 25th - Moose Jaw* - Noon Hour Talk - Timothy Eaton Centre - contact Don Mitchell.

*Nov. 25th - Saskatoon* - Station 20 West - 1120 20th St. - Multi Purpose Room - 7:30 PM - contact Don Kossick.

*Nov. 26th - Prince Albert* - PA Union Centre - 107 8th Street East - 7:30 pm - contact Rick Sawa.

*Nov. 27th* - Attendance at National Farmers Union Convention - Saskatoon.

Attached are the leaflets from Moose Jaw and Saskatoon announcing their meetings.

Let’s Stop the Multinational Tax Dodge

*Corporate tax avoidance is a global epidemic*. And it isn’t just Google, Burger King and Amazon who are gaming the system to pay little or no tax anywhere. Canadian companies such as Cameco and Gildan do it too.

Canada has the lowest corporate tax rate in the G7. But that’s not good enough for many top publicly traded companies. They continue to *shift profits offshore in order to pay even less tax.* A popular practice is selling a patent to an offshore subsidiary and then charging itself licensing fees for the use of that same patent.

How does our tax system let this boondoggle happen?

Here’ s how: Canada’s Income Tax Act is *riddled with loopholes *that allow corporations to get away with paying less than a fair share. Many of our
politicians have lost their political will to go after the big guys. It is you, I, and our neighbours who are left with the bill for their inaction.

For more information on Canadians for Tax Fairness go to:
[ http://www.canadiansfortaxfairness.ca ]

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Prince Albert chapter sponsors forum on Cameco and profit-shifting

[ http://canadians.org/blog/prince-albert ... t-shifting ]

November 25, 2014 - 8:35am

The Council of Canadians Prince Albert chapter is sponsoring a public forum titled 'Pay Up Cameco!'

Hundreds of millions owed to Canadians' featuring Dennis Howlett from Canadians for Tax Fairness. Saskatoon-based Cameco Corporation is the world's third largest producer of uranium.

The Prince Albert Herald reports, "Currently before the courts, Canada Revenue Agency is seeking hundreds of millions of dollars from Cameco as a result of the corporation’s profit shifting through offshore tax havens." [ http://www.paherald.sk.ca/News/Local/20 ... fairness/1 ]

Howlett has commented, "Canadian corporations like Cameco and Gildan use complex, opaque practices to shift profits into low or no-tax jurisdictions. When the CRA did decide to investigate the profit-shifting practices of Cameco, it discovered a scheme that used a Swiss office to avoid $185 million in Canadian taxes. That case is in Federal Tax Court." [ http://thetyee.ca/Opinion/2014/07/29/Ca ... ing-Taxes/ ]

The Herald notes, "Canada Revenue Agency has issued a reassessment for $5.7 billion, resulting in a tax expense of $1.6 billion, drawing from finances that date back to 2003. ... Cameco declined comment for the purposes of this article, with manager of media relations Rob Gereghty limiting comment to the fact he’s 'confident that we will be successful in our case.'"

This summer, the Canadian Press reported, "The Saskatoon-based company said it earned $127 million or 32 cents per diluted share, up from $34 million or nine cents per share a year ago. [ http://globalnews.ca/news/1485361/profi ... at-cameco/ ] Revenue improved to $502 million compared with $421 million in the second quarter of 2013." And in September, Reuters reported, "Canadian uranium producer Cameco Corp and the United Steelworkers union, which represents 535 workers at the world’s largest uranium mine and mill, have agreed to a tentative deal ending a nearly two-week lockout, a union official said on Friday." Workers at the McArthur River mine and Key Lake mill in Saskatchewan were locked out after the union’s bargaining committee rejected the company’s contract offer. [ http://business.financialpost.com/2014/ ... nion-says/ ]

The Council of Canadians believes in tax fairness and has also called for a ban on all uranium exploration and mining, the strengthening of legislation to ensure that any exploration or mining of other materials does not disturb or uncover uranium deposits, and for fair, just transition programs for all communities and workers involved in the uranium mining industry.

The public forum taking place on Wednesday is co-sponsored with the Prince Albert and District Labour Council, CUPE 4777 and Renewable Power the Intelligent Choice.

Further reading

Cigar Lake uranium mine starts production, more to come with CETA? (March 2014 blog)
[ http://canadians.org/blog/cigar-lake-ur ... -come-ceta ]

'Collaboration Agreement' with uranium giants sparks opposition in northern Saskatchewan (December 2012 blog)
[ http://canadians.org/node/3354 ]

Brent Patterson
Political Director for the Council of Canadians
[ http://canadians.org/blogs/brent-patterson ]