Finance committee  No; if you want to, go ahead. There was one last aspect to the combination of policy prescriptions that would help reduce profit shifting and transfer pricing, and that would be—it's been used in other countries or is starting to be implemented in other countries—the idea of a global minimum tax for corporations.

Finance committee  My interactions with auditors, which are numerous, suggest that they're driven by a deep sense of fairness and that what they want is a tax system that's defined by integrity and fairness. Nothing would make them happier than having rules and resources that would allow them to go after the “big contact” cheats, the ones who are trying the hardest to avoid taxes.

Finance committee  On formulary allocation of profits, what you're basically doing is choosing different criteria to ascertain what amount is going to be taxed. This is already done in Canada to determine which province a company should be taxed in. I think the criteria used are payroll and sales, so you look for that economic substance and then tax accordingly.

Finance committee  The biggest issue that has been advocated by auditors at the Canada Revenue Agency, based on their work, is to focus on corporate tax evasion. The scale is much larger. The PBO has identified that as much as $25 billion a year could be accessible or unlocked from tax havens if the right provisions were in place.

Finance committee  I think Debi provided a good answer. I will just reiterate that we're here as a representative of the auditors; we're not here as a representative of the Canada Revenue Agency itself. I think it would be better to hear from a representative from the agency.