C4TF REPORT: Pandemic Profits and the Public Purse; Tax Dodging and Wage Subsidies in 50 Firms

C4TF REPORT: PANDEMIC PROFITS AND THE PUBLIC PURSE
Tax Dodging and Wage Subsidies in 50 Firms
By D.T. Cochrane
13 May 2021
 
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HIGHLIGHTS
  • 50 of Canada’s largest companies made record profits in 2020
  • At least 7 of these companies, or their subsidiaries, collected federal wage subsidies through the CEWS program
  • 104 high-profit Canadian companies had pandemic profit margins greater than their historical averages
  • 37 of the record-setting companies had an effective tax rate below their combined federal-provincial statutory rate
  • 34 of the companies had at least one identified subsidiary in a tax haven
  • Cash-holding increased for 39 of the companies by a combined C$26.4 billion

 

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