National Chamber launching review of Canadian tax system
Canada’s taxation system is going to come under the microscope from an independent source.
The Canadian Chamber of Commerce has launched a tax review, overseen by eight special commissioners that will engage business owners and tax experts over the next two months. The goal of the Chamber’s review is to find a more competitive, simpler and fair tax system for Canadians in the wake of the COVID-19 pandemic.
“Canada will have to walk a fiscal tightrope between the need to reduce debt and deficits and supporting economic growth. The fastest and least painful path to recovery is by encouraging business investment and job creation. Reconceiving our tax system to rebuild our economy will be critical to Canada’s ability to recover from COVID-19’s impact,” President and CEO Perrin Beatty said.
The Canadian Chamber’s Chief Economist, Dr. Trevin Stratton, said everyone must mobilize private capital, not just public money.