A well-functioning tax system is essential to keep Canada positioned as an attractive place to work, to invest, and to do business. Since 2006, we've introduced measures, including in this bill—over 85 measures—to improve the integrity of Canada's tax system. They include actions to address aggressive international tax avoidance by multinational enterprises. Also, they include amendments to prevent input tax credit claims that exceed taxes actually paid. In total, these measures to address international tax avoidance, improve integrity, strengthen compliance, and enhance the fairness, now provide savings of $44 million in 2014-2015, rising to $450 million in 2018-2019, for a total of $1.8 billion, this year and in the following five years.
In respect to money laundering and terrorist financing, our government is committed to a strong and comprehensive regime that is at the forefront of the global fight against money laundering and terrorist financing. We're taking concrete steps to ensure the integrity of our financial system, and the safety and security of Canadians. To strengthen this regime, the bill will improve monitoring compliance and enforcement, it'll close the gaps of the regime—such as online casinos, persons and entities that deal in virtual securities, currencies, and foreign money services—and it'll strengthen information sharing, such as allowing FINTRAC to disclose to federal partners issues related to threats to national security.