On 14 May 2007, the Minister of Finance announced further details on the government's anti-tax-haven initiative that was introduced in Budget 2007. The measures target current Canadian tax rules that allow multinational corporations to avoid paying taxes by getting a double deduction for a single expense relating to a foreign investment, as well as secrecy laws in certain jurisdictions, which encourage tax evasion.
Double dipping
Where a low-tax juris…