Thank you very much for the question. As the minister indicated, it's important to point out that these issues are best approached in a multilateral fashion, the base erosion and profit shifting approach being one aspect of that. It's also important to understand how profits are taxed across countries. For example, Canada, like most other countries, does not tax active business income derived from abroad; on the other hand, we have a very rigid and strict approach to taxing investment income abroad—the foreign accrual property income rules.
We've made a number of changes over recent years, like the common reporting standard, a multilateral instrument that essentially addresses treaty shopping issues, but does so in an organized fashion with other countries. We've also invested very significant amounts in international audit activity by the Canada Revenue Agency.