The first on the list of the top 10 countries is Luxembourg, whose population is the size of the city of Gatineau, but whose reportable transactions amount to $236.7 billion. There's also Switzerland, whose reportable transactions amount to $198.4 billion, and Ireland, which some people also consider a tax haven and whose reportable transactions amount to $172.4 billion. In Barbados, the reportable transactions amount to $48.2 billion, and in Bermuda they amount to $29.7 billion. The offshore transactions of these five countries on the top 10 list amount to about $685 billion. For the most part, the economies of these countries don't necessarily justify such a large flow of transactions.
Can you give us an idea of the situation in these five countries and the influence of double taxation agreements?
I don't know whether you focused on this issue in your study. I want to know whether the size of the transactions between Canada and these countries can be linked to the fact that we have double taxation agreements. These agreements may encourage the offshoring of profits, which can then be repatriated to Canada at a lower tax rate.