Montreal, a tax haven?
While this city is not quite the tax haven that the Bahamas are, it does have at least one firm that helps wealthy French investors squirrel funds out of sight of the fisc. There are also articles in Libération but not much is accessible outside the paywall.
Not surprisingly, according to La Presse, it’s due to a loophole consciously left open by the Tories in the early 2000s.
ant6n 20:06 on 2021-12-15 Permalink
Wait so how can a European use Quebec as a tax Haven? Asking for a friend.
Kate 20:16 on 2021-12-15 Permalink
ant6n, it’s a mystery to me why we have finance laws enabling people who have no assets in Canada to hide assets here from foreign governments. In fact, if I were the French government I’d be steamed as heck about this.
(Incidentally, on an unrelated topic, ant6n, are you going to apply for that seat on the STM board?)
Chris 23:54 on 2021-12-15 Permalink
The Liberals have had 3 terms now to close it if they wanted to. No doubt they don’t.
Meezly 10:10 on 2021-12-16 Permalink
There was a CBC doc a few years called Cities Held Hostage – Who Owns Montreal? that looked into how many of our structures were built by a few foreign construction co’s from France/Europe, which has been going on for several decades. I wonder if that loophole is just another extension of the intricate web of 1% control.
ant6n 21:15 on 2021-12-16 Permalink
@Kate
Would like to apply, but I’m probably not in Montreal too often these days.