Thank you, Mr. Chairman. Welcome to the Committee.
I would like to put a question to you. The last time that a bill was tabled, it was studied by the Standing Committee on Finance, in 2007. Certain measures targeted, among other things, tax deferral and tax avoidance using foreign investment entities and non-resident trusts.
The bill moved through all stages in the House of Commons, but after its referral to the Senate, it died on the Order Paper. Statements had been made. The fact that these measures were postponed from one budget to the next despite the fact that announcements had been made had a deterrent effect on corporations. Is that still the case?
When a witness from the Department of Finance came before the Committee to discuss this matter, it was stated that this was a source of 90 billion dollars in potential income that the government was missing out on. What is the situation today?
I am trying to determine the impact of non-passage of the bill. It could be quite considerable.