Thank you, Mr. Chairman.
Thank you for coming.
In 2002, the Auditor General made the following observation regarding the Department of Finance:Tax arrangements for foreign affiliates have eroded Canadian tax revenues of hundreds of millions of dollars over the last 10 years.
Also, let me quickly read out recommendation 11.114:To protect the integrity of the tax base, the Department of Finance should obtain and analyze current information to reassess the tax revenue impact and the rationale ofallowing foreign-owned Canadian corporations to deduct interest on borrowed funds related directly or indirectly to investments in foreign affiliates, andallowing tax-privileged entities in treaty countries to bring income into Canada tax-free.
The Auditor General told us that you still have not answered this question. Could you tell us whether you have the information that she asked for? Do you intend to respond to this request made by the Auditor General?