Right.
I think what's being underlined here is that cracking down on what we would consider the illegitimate use of tax havens or low-tax jurisdictions is not going to be an easy task. It's going to take some precision to do that.
The minister has indicated that we're looking to crack down specifically on double-dipping, which I think is easy in this specific case. It's a very simple example to determine what the cost was to the Canadian economy. If you work on a 20% tax rate and they claimed a $20 million expense that they did not have, the cost to the Canadian tax purse in this case would have been $4 million in unpaid taxes. And then they also claimed that again in the United States.
I think that Canadians in general would have a problem. This type of example is not creating any economic spin in Canada. All it's doing is reducing the overall responsibility to pay Canadian taxes.
Ultimately, what we're looking for is broad-based tax fairness so we can bring that corporate tax rate down as soon as possible, because I'm sure that everyone on the panel here today will agree that the lower corporate tax rates are in Canada, the less incentive there is to use a low-tax jurisdiction. In fact, as Canadian tax rates drop, there is virtually no incentive to use low-tax jurisdictions. And I'm sure you'd agree with that.