Published: March 5, 2022
Last Updated: March 16, 2022
David Rotfleisch, a tax lawyer with Rotfleisch & Samulovitch P.C. in Toronto, commented on how the big companies in Canada avoid millions of taxes. While passive income for a Canadian-controlled private corporation (CCPC) is subject to a tax rate of about 50 per cent, a non CCPC is taxed at about half of that rate.
“‘This BVI continuation technique exploits the anomaly between the taxation’ of these two types of corporations.”
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Disclaimer:
"This article provides information of a general nature only. It is only current at the posting date. It is not updated and it may no longer be current. It does not provide legal advice nor can it or should it be relied upon. All tax situations are specific to their facts and will differ from the situations in the articles. If you have specific legal questions you should consult a lawyer."
