# 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.
- Title: National Bank CEO Calls for Tax System Overhaul | Shortify
- Summary: 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…
- Keywords: canada, tax system, national bank, laurent ferreira, tax foundation, tax code, money, business, National, Bank, CEO, Calls
- Source: Financial Post — https://financialpost.com/fp-finance/banking/canada-tax-system-scrapped-redone-nbc-ceo
- Author: Naim Karim
- Published: 2026-10-21T17:25:21+00:00
- Read time: 1 min
- Topics: canada, tax system, national bank, laurent ferreira, tax foundation, tax code, money, business
## 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.
## Key takeaway

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.