There are various types of income tax systems with varying degrees of tax incidence in Canada. The level of Canadian income tax is average among Organization for Economic Co-operation and Development (OECD) countries and approximately 70% of the Canadian government's income comes from taxation.

Tax collection agreements enable different governm
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A tax haven is a country where taxes are nonexistent or are very low. To describe it in a more complex manner, it is said that it is a place where there is no relevant taxes that are levied. There are many countries like Canada that are becoming haven for tax avoidance in order to attract investment from other countries into their country. By doing this, they are providing business opportunities and jobs to the citizens of the country. In such countries, the taxat
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Many countries have agreed with other countries in treaties to mitigate the effects of double taxation (Double Tax Avoidance Agreement). Tax treaties may cover income taxes, inheritance taxes; value added taxes, or other taxes. Tax agreements tend to reduce taxes of one treaty country for residents of the other treaty country in order to reduce double taxation of the same income.

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For several years, Canadians with substantial assets have been transferring their assets offshore in order to avoid the impact of Canadian taxation. In recent times, with high disciplinary and other damages being awarded by the courts against directors and officers of corporations and other professionals, more and more individuals are transferring their assets offshore, in order to achieve a degree of asset protection.

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Companies and corporations pay tax on profit income and on capital. Canadian corporate tax makes up a relatively small portion of total tax revenue. Tax is paid on corporate income at the corporate level before it is distributed to individual shareholders as dividends. A tax credit is provided to individuals who receive dividend to reflect the tax paid at the corporate level. This credit does not eliminate doubl
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