Mr. Chair, we have a territorial tax system, which means that should a company make an investment somewhere else and make profits, it is subject to the tax rates in that other place. Should it make investments in Canada and make profits, it is subject to the tax rates in Canada. We have international agreements to make sure that we have insight into how monies flow between countries. It is an approach, a territorial tax system, that is consistent with the approach of virtually every other country on the planet.
In the House of Commons on May 22nd, 2018. See this statement in context.