I have been a tax expert for some years. I will not tell you exactly how many years, because I do not want to appear too old. I have spent nearly my entire life in giving tax advice to SMEs. There is a very simple reason for this: SMEs have no access to the kind of fiscal planning that would let them use tax havens. This is unfair. I recently had a discussion about this issue. SMEs cannot afford to pay the professional fees of financial experts who do this kind of planning. It costs at least $50,000 in fees to set up this kind of structure. SMEs cannot afford to pay such professional fees. Besides, an SME is usually not large enough to be able to open an account with certain financial institutions over there. I wrote about this in my book. This is really a selective kind of fiscal planning that discriminates in favour of more wealthy Canadians.
On May 15th, 2007. See this statement in context.