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 Phillip Fry
Certified Tax Consultant
To schedule your
initial tax
consultation please
Phillip
email at
incometaxplanning@yahoo.com,
or call him at
(63-906)
510-4000
outside of Philippines
( 63-919)
375-0302
outside of Philippines.
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Recommendation of Conference Board of Canada, August 27, 2008:
Eliminate Canadian Capital Taxes in All Jurisdictions
The evidence
is clear: corporate capital taxes act as a brake on productivity. They are
an inefficient form of taxation, inequitable across corporations, and levied
without regard to a firm’s profitability at the time of taxation—which
places undue strain on firms already under financial duress. Most
critically, they penalize the accumulation of capital equipment by raising
the required rate of return on incremental units of investment in machinery
and equipment. Capital taxes are thus a killer of investment, of
productivity, and of jobs because they discourage new investment.
Moreover,
given current demographic trends, firms will need to rely increasingly on
investment in capital equipment and less on workforce growth to sustain
their business, which is entirely at odds with the use of capital taxes.
The Conference Board of Canada’s Advice
Capital taxes
penalize firms for undertaking investment in capital equipment and financial
assets, which is completely counter to Canada’s long-term interest in
accelerated productivity growth and enhanced prosperity. The Conference
Board of Canada believes that, as a top priority, all provinces need to join
the federal government and Ontario and announce plans to eliminate capital
taxes
in all sectors as quickly as
possible.
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