Mr. Speaker, I thank my hon. colleague for his speech.
Not so long ago, we had a debate in the House on one particular tax convention, on the initiative of a member of the Bloc Québécois. The debate concerned the tax treaty between Canada and Barbados, to avoid double taxation, the subject we are addressing today.
What makes the case of Barbados different is obviously the fact that companies that do not do business directly within the jurisdiction of Barbados are taxed at a rate of 0.5% to 2%. Consequently, as a result of the treaty to avoid double taxation that we have with Barbados, certain companies can benefit from the Barbadian preferential rate prior to repatriating the funds to Canada, telling the Canadian tax authorities that they have already paid their income tax and cannot be made to pay more, because they are sheltered by the treaty to avoid double taxation.
Outside these two good agreements, can my colleague talk about the potential danger and the necessity for Canada to monitor the tax situation of each of the countries with which it has entered into a convention, to make it possible to review those conventions, or even cancel them if necessary, when they make no sense, when we see a situation like the one between Canada and Barbados?