The Commons finance committee has voted to launch a probe into corporate tax avoidance through offshore accounts, with Conservatives singling out Prime Minister Mark Carney as the most prominent example of what they call a two-tier tax system.“The Prime Minister’s friends dodge taxes while this government taxes us more to make up the difference,” said Conservative MP Jasraj Hallan, who sponsored the motion. Blacklock's Reporter said Hallan accused Carney of benefiting from offshore arrangements during his time as chair of Brookfield Asset Management. “When he was chair of Brookfield he used offshore tax havens in Bermuda to stash his company’s profits beyond the reach of the Canada Revenue Agency,” Hallan said. “For Liberals there is a two-tier tax code, one for the rich like the Prime Minister and his friends, and one for the rest of us.”.The committee agreed to summon Canada Revenue Agency managers as part of a study into offshore subsidiaries, tax treaties, and weak enforcement that have made Canada both a conduit and destination for tax avoidance. Even Liberal MP Ryan Turnbull, parliamentary secretary for finance, conceded the rules likely need tightening.Brookfield, where Carney served as chair until January, was flagged in 2023 by the U.K.-based Centre for International Corporate Tax Accountability for relying on Bermuda accounts and related-party debt schemes to shift profits offshore. .The group argued such practices, though legal, erode public revenues needed for essential services.Carney has previously defended Brookfield’s tax planning as compliant with Canadian and international law.Asked about ethics, he replied: “I am no longer at Brookfield.”He insisted his government would pursue a fairer corporate tax regime if re-elected, saying: “It will be a priority of our government to make sure our companies are paying their fair share of taxes.”.Due to a high level of spam content being posted in our comment section below, all comments undergo manual approval by a staff member during regular business hours (Monday - Friday). Your patience is appreciated.
