Canada’s emergency wage subsidy ‘was really a blank cheque to companies’: Canadians for Tax Fairness
Facts
9 February 2023
A new report by Canadians for Tax Fairness reveals large corporations in Canada received pandemic subsidies while boosting profits, avoiding billions in taxes, and making shareholders richer.
We looked at 74 publicly listed companies that were found in our previous report to have a tax gap* greater than $100 million. Half of them (37) received CEWS.
Take action
New report: Canadian corporations took wage subsidies while avoiding billions in taxes
Thursday, Feb 9, 2023 5:00 a.m. EST
Public funds for private gains
Summary
Report
Private gains: Higher dividends, share buybacks, and acquisitions
Dividends
Dividends are the primary means by which companies return money to their own shareholders. They are typically paid each quarter.
Canada needs a windfall profits tax – not more rate hikes
MEDIA RELEASE: Canada needs a windfall profits tax – not more rate hikes
Would fairer taxes reduce inequality? Rising corporate profits and billionaire wealth force a real conversation about tax justice.
We are witnessing unprecedented levels of inequality.