Mr. Speaker, yesterday in the Standing Committee on Finance, government experts did not deny that $4 billion in profits are repatriated from tax havens annually without a penny paid in tax. This was made possible through section 5907 of the income tax regulations, which allows Canadian companies to be exempt from paying tax on profits they bring back from their branches in Barbados.
Will the Prime Minister abolish section 5907 once and for all, to put an end to this scandalous tax loophole?