The Canadian Chamber of Commerce is dissatisfied with the methods of tax reform that the government has used for the past sixty years and is starting a working group of Chamber Members to address the issue. “The last time Canada undertook a comprehensive review of its tax system, humankind still hadn’t set foot on the moon. In the five decades since, a cut-and-paste approach has made Canada’s tax system more cumbersome and inefficient.” says Chamber author, Phil Taylor.
The project will be led by Dr. Trevin Stratton, the Chamber’s Chief Economist, and will include a series of roundtables. The objective of each roundtable will be to gather business leaders and other stakeholders to discuss the challenges Canada’s current tax system. “Canada’s declining tax competitiveness impacts all aspects of Canadian business, from cross-border supply chains, our ability to attract investment, to hiring and talent retention, as well as mergers and acquisitions,” said Dr. Stratton. “While we are focused on making the case for a comprehensive review of the tax system, we also recognize there are measures that government can implement right now to improve our competitive positioning.” The Chamber will be soliciting input from Chamber Members, such as the Equipment Dealers Association, during this exercise. The Chamber plans to consolidate the information gathered through the study and issue a full report making the case for a comprehensive review of the tax system. For more information about this study and how dealers can provide feedback as job creators and contributors to the Canadian economy, click here.