From Financial Post · Naim Karim · · 1m
National Bank CEO Calls for Tax System Overhaul
Canada's tax system must be scrapped and rebuilt to become simpler and more competitive, says National Bank CEO.
In brief
Canada's tax system must be scrapped and rebuilt to become simpler and more competitive, says National Bank CEO. National Bank CEO Laurent Ferreira argues Canada's tax system needs complete overhaul to attract capital and talent, citing complexity as a burden for small businesses. Originally reported by Financial Post.
National Bank CEO calls for tax system overhaul
Canada's tax system has grown so complex that a review or even an overhaul won't work, so it needs to be scrapped.
Goal: Simplest tax jurisdiction
Ottawa needs to hire experts to write a new tax code aiming to become the simplest, most efficient and most competitive tax jurisdiction of all developed countries.
Tax system complexity burden
The complexity of Canada's tax code is a burden and real cost, especially for small businesses lacking resources to navigate rules.
Tax system rankings
Canada ranked 15th among 38 industrialized countries in tax competitiveness but slipped to 28th in individual tax category and 25th in property taxes.
What it means
National Bank CEO Laurent Ferreira argues Canada's tax system needs complete overhaul to attract capital and talent, citing complexity as a burden for small businesses.
