This situation crops up often for Barbados, because we have a tax treaty with them, and in the case of the Bahamas, because we have an exchange of information agreement with that country.
Canada has tax information exchange agreements with about 20 countries. The tax information exchange agreement allows resident companies in those countries to pay tax-free dividends to Canadian parent companies.
So they pay no tax there, and the dividends come back to Canada tax-free. This is totally absurd. Under the guise of wanting to sign these information exchange agreements, Canada's power to tax corporate profits has been let go, when the objective is not being met at all.
You mentioned the Panama Papers and the tax haven documents. We can see that we didn't get the information that we should have managed to get. We can make a comparison with what the United States obtained. As our population is equivalent to 10% of the American population, we could have hoped to obtain 10% of the revenue. But that's not the case at all, we got absolutely nothing.