If you tax something less, you’ll likely get more of it.
corporate capital tax
If passed in its current form, the Republican tax bill may result in US$1 trillion in tax cuts for U.S. businesses over the next 10 years.
If governments eliminated corporate taxes, they'd eliminate the double taxation of corporate profits.
British Columbia is officially in election mode and the parties are rolling out their campaign promises. When it comes to the tax promises of the two mainstream parties, British Columbians are confronted with a choice, as it were, between higher taxes or even higher taxes. So pick your poison.
To see how they stack up, lets look at each plan for the most important types of taxes. Its not a pretty picture.
There was a lot of political noise emanating from various provincial capitals over the last year regarding capital taxes, tax essentially assessed on the debt and equity of a company. BC boldly announced it would eliminate its general corporate capital tax. Quebec committed to more than halving the applicable rate. Saskatchewan, the countrys largest user of capital taxes announced it would increase the threshold at which it applies. And yet, after looking at the most recent data, the most striking feature is how little things have changed in 2002.
It has been called the most damaging and detrimental tax in Canada. This wealth and income killing tax is little known outside the circles of academia, tax-planning, and corporate boardrooms. However, the corporate capital tax is by far the most destructive and growth-inhibiting tax imposed by Canadian governments.