Financial crime is one of the greatest threats to the economic and social well‑being of people living in all countries. Illicit financial activities such as tax evasion, corruption, terrorist financing, computer fraud, money laundering and other financial crimes are a global problem demanding a global response.
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The tax wedge for the average single worker in Canada decreased by 0.3 percentage points from 30.8 in 2018 to 30.5 in 2019. The OECD average tax wedge in 2019 was 36.0 (2018, 36.1).
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The OECD’s annual Revenue Statistics report found that the tax-to-GDP ratio in Canada increased by 0.2 percentage points from 32.8% in 2017 to 33.0% in 2018. The corresponding figure for the OECD average was a slight increase of 0.1 percentage point from 34.2% to 34.3% over the same period.
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This country note explains how Canada taxes energy use. The note shows the distribution of effective energy tax rates across all domestic energy use. It also details the country-specific assumptions made when calculating effective energy tax rates and matching tax rates to the corresponding energy base.
Canada and Switzerland deposit their instrument of ratification for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (BEPS) with the OECD’s Secretary-General, therewith underlining their strong commitment to prevent the abuse of tax treaties and BEPS by multinational enterprises. For Canada and Switzerland, the MLI enters into force on 1 December 2019.
The work on BEPS Action 14 continues with today’s publication of the first round of stage 2 peer review monitoring reports, which consists of monitoring the follow-up of any recommendations resulting from jurisdictions' stage 1 peer review reports.
These country profiles focus on countries' domestic legislation regarding key transfer pricing principles, including the arm's length principle, transfer pricing methods, comparability analysis, intangible property, intra-group services, cost contribution agreements, transfer pricing documentation, administrative approaches to avoiding and resolving disputes, safe harbours and other implementation measures.
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This country note for Canada provides detail on the proportion of CO2 emissions from energy use subject to different effective carbon rates (ECR), as well as on the level and components of average ECRs in each of the six economic sectors (road transport, off-road transport, industry, agriculture and fishing, residential & commercial, and electricity).
There have been many significant developments in the area of international tax over the last months. Almost 50 countries have started automatic exchange of financial account information in September 2017, which is a key milestone.