On an international scale, Canada’s tax system is unnecessarily complicated, full of red tape, labour-intensive, difficult to understand and costly to administer. Canada’s tax system acts as a serious barrier to business, investment, competitiveness and economic growth. This is the number one policy priority, according to CGAs.
CGA-Canada has led the charge urging the federal government to reform Canada’s tax system – make it simpler, fairer and more efficient. The House of Commons Standing Committee on Finance – in its 2012 pre-budget consultations report – endorsed CGA-Canada’s recommendation to explore ways to simplify the Income Tax Act (ITA) in order to reduce complexities and inefficiencies. Furthermore, the committee recommended that a royal commission be established to undertake a comprehensive review of the ITA. This builds on last year’s recommendation made by this committee for the creation of an expert panel to modernize and simplify the tax system.
To advance this public policy priority, CGA-Canada convened a Summit on Tax Simplification on December 4, 2012. The summit brought together stakeholders, public officials and thought leaders on tax policy to strategize on the issue, inform the debate, establish priorities and identify next steps.
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