International Tax Review is part of the Delinian Group, Delinian Limited, 8 Bouverie Street, London, EC4Y 8AX, Registered in England & Wales, Company number 00954730
Copyright © Delinian Limited and its affiliated companies 2023

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

Canada’s 2016 Budget to be paid for by the US*


Negotiations for fictitious Budget funding from the US to Canada have hit a brick Wall in Mexico

In an all-party parliamentary vote this month, the US Congress has passed a movement to send a cheque to the Canadian Prime Minister, Justin Trudeau, for his 2016 Budget.

The estimated 2016-2017 deficit that Trudeau's Budget will incur is to be funded by US Congress in a generous move to encourage business between the two countries.

Mexico is said to be apoplectic: while it will be left with the American bill for 'The Wall', Canada has only offered a specific tax exemption for Taco Bell – a frankly insulting take on Mexican cuisine and, more pertinently, a US corporation.

In a joint statement on Monday, US President Barack Obama and Republican and Democrat frontrunners Donald Trump and Hillary Clinton said: "We've got it all figured out. Mexico pays for The Wall, we fund the Canadian Budget, and Canada and Mexico... Well, they can figure it out for themselves. God bless the United States of America."

*not really

more across site & bottom lb ros

More from across our site

12th annual awards announces winners
The Fair Tax Foundation published the annual UK public sentiment barometer on tax justice ahead of its flagship event, which ITR attended.
The UK public broadcaster acknowledges paying a low tax rate in India, while the ICAEW appoints a new president for 2023/24.
The Canadian proprietor of Canary Wharf and Manhattan West faces accusations of avoiding tax through subsidiaries in Bermuda and beyond.
The Department of Finance Canada has put forward a package of transfer pricing reforms to clarify existing provisions and address what it says is a disproportionate loss of tax revenue.
Developments included the end of Saudi Arabia’s tax amnesty, Poland’s VAT battle with the EU, the Indirect Tax Forum, India’s WTO complaint, and more.
Charlotte Sallabank and Christy Wilson of Katten UK look at the Premier League's use of 'dual representation' contracts for tax matters.
Shareholders are set to vote on whether the asset management firm will adopt public CbCR, amid claims of tax avoidance.
US lawmakers averted a default on debt by approving the Fiscal Responsibility Act, but this deal may consolidate the Biden tax reforms rather than undermine them.
In a letter to the Australian Senate, the firm has provided the names of all 67 staff who received confidential emails but has not released them publicly.