Mr. Speaker, the member is familiar with the OECD's grey list and blacklist as well as the French blacklist on tax shelters.
In February last year, the Government of France was tough with Panama because it was refusing to sign a double taxation avoidance treaty. France was creative and levied a tax of 50% on dividends, interest, royalties and service fees paid by anyone based in France to a beneficiary based in the countries on the blacklist, which includes Panama.
What happened? The Panamanians immediately rushed to get off the list and within months France signed a tax treaty with Panama.
France is not negotiating a free trade deal with Panama, yet Canada, which is actively negotiating a free trade deal with Panama, does not seem to be interested in the fact that it is dealing with a country on France's blacklist.