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Canada has a Effective Corporate Income Tax Rate of 7.2% while the United States is 28.5% though it looks like it varies from sector to sector. Source: Appendi
by tixocloud 12y ago
Canada has a Effective Corporate Income Tax Rate of 7.2% while the United States is 28.5% though it looks like it varies from sector to sector.
Source: Appendix A (pg. 22) http://www.kpmg.com/Ca/en/services/Tax/Focus-on-Tax/Documents/kpmg-focus-on-tax-2014-en.pdf http://www.kpmg.com/Ca/en/services/Tax/Focus-on-Tax/Document...
- waterside81 12y agoThat seems to be only Federal rate - you have to pay corporate tax to the province as well. Tim's is based in Ontario, so they'll likely be paying closer to 25% once all is said & done.
- deleted 12y ago[deleted]
- FD3SA 12y agoA fascinating document, thank you for the link. As a Canadian, I'm quite disturbed by these numbers, since the "trickle-down" theory that these tax rates are based on have been proven false by Thomas Piketty's work. Ironically, McDonald's and a few other large corporations have recently been in the spotlight for hiring Temporary Foreign Workers (TFW) in urban areas with very high unemployment rates. The Canadian tax payer is beginning to understand that giving corporations a free pass to make outsize profits doesn't help them in the slightest. Canadian income tax is comparable to NY state, but apparently our oligarchs get a free pass (7.2% effective income tax!). Truly absurd.