CANADA: STILL OPEN FOR BUSINESS? Report of the Standing Senate Committee on Banking, Trade and Commerce The Honourable Senator Doug Black, Q.C., Chair The Honourable Senator Carolyn Stewart Olsen, Deputy Chair 1 OCTOBER 2018 For more information please contact us: by email:
[email protected] by mail: The Standing Senate Committee on Banking, Trade and Commerce Senate, Ottawa, Ontario, Canada, K1A 0A4 This report can be downloaded at: www.senate-senat.ca/ The Senate is on Twitter: @SenateCA, follow the committee using the hashtag #BANC Ce rapport est également offert en français 2 The Standing Senate Committee on Banking, Trade and Commerce TABLE OF CONTENTS COMMITTEE MEMBERSHIP ........................................................................................ 4 ORDER OF REFERENCE ............................................................................................ 5 LIST OF RECOMMENDATIONS ................................................................................... 6 INTRODUCTION ...................................................................................................... 7 FIXING CANADA’S TAX SYSTEM ................................................................................ 9 A. Royal Commission on Taxation .................................................................... 10 B. Immediate Measures to Improve Canada’s Tax Competitiveness ...................... 11 CREATING REGULATORY CERTAINTY FOR INVESTORS ............................................... 14 REMOVING BARRIERS TO SUCCESS FOR CANADIAN