Mr. Speaker, Canada signs tax treaties with some countries ostensibly to avoid double taxation, but what actually happens is double non-taxation. Instead of enabling us to collect a portion of the tax, a treaty such as the one with Barbados exempts a company that pays a paltry 2.5% to Barbados from paying tax in Canada.
Yes, we need to take a closer look at whether these tax treaties are working, but my argument was about tax information exchange agreements. As we have seen, such agreements, particularly with the Bahamas, are absolutely useless. Why? Because to get information from the countries with which we have treaties, we need information that quite simply cannot be had by those not already privy to it.
It is a bit like having to have all of the evidence before asking for more evidence. Consequently, I am asking the Canadian government to take a look at how well its treaties and conventions are working because they appear to be patently ineffective.