Mr. Speaker, I thank my colleague for his excellent speech. I share his feelings about the urgency of reviewing the Income Tax Act in its entirety. Ignorance of the law is no excuse; that is the very essence of our society under the rule of law. Everyone is supposed to know the law. In our legal system, we assume that this is the case.
The Income Tax Act, however, is 3,000 pages long and is relatively complex, as my colleague has just explained so well. Even tax experts cannot claim to understand the act in its entirety, with its 3,000 pages and thousands of sections.
In addition, we are witnessing major technological changes today; in a few seconds, we can transfer funds from one country to another, from one branch of a company to another. This is what we are seeing at present all over the world; the profits of multinational corporations are reported in countries other than the ones where the actual economic activities are going on.
Can my colleague comment on this aspect of the new ways of the world and tell us whether there are solutions to this problem?