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Canada : a new tax haven : how the country that shaped Caribbean tax havens is becoming one itself / Alain Deneault ; translated by Catherine Browne.

by Deneault, Alain, 1970-

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Talonbooks, 2015.

Tax havens -- Canada.

Tax shelters -- Canada.

Tax havens -- West Indies.

Tax shelters -- West Indies.

9780889228368 (pbk.)

Paradis fiscaux. English.

Alternate title:

Tax haven : how the country that shaped Caribbean tax havens is becoming one itself

xiii, 385 pages : illustrations, map ; 22 cm.

Originally published in French as: Paradis fiscaux : la filière canadienne : Barbade, Caïmans, Bahamas, Nouvelle-Écosse, Ontario.

Includes bibliographical references and index.

"Alain Deneault traces Canada's relationship with Britain's Caribbean colonies back through the last half of the twentieth century, arguing that the involvement of Canadian financiers in establishing and maintaining Caribbean tax havens has predisposed Canada to become a tax haven itself - a metamorphosis well under way. In the 1960s, the transformation of the Bahamas into a tax haven characterized by impenetrable banking secrecy was shaped by a minister of finance who sat on the Royal Bank of Canada's board of directors. For years, Canadian politicians have debated annexing tax havens such as the Turks and Caicos Islands, making them part of Canadian territory. Canada has signed a free-trade agreement with Panama and is currently seeking a wider agreement with the countries of the Caribbean political community. And, notably, Canada currently shares its seat at the World Bank and the International Monetary Fund with a group of Caribbean tax havens. These exercises in fostering fiscal and banking leniency have predisposed Canada to become one of the most attractive tax havens to foreign interests. Not only does Canada offer one of the lowest corporate tax rates in the world, but a number of loopholes encourage companies to relocate to Canada as if it were Barbados or Bermuda"--Provided by publisher.

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