Canadian Tax Rates, Not Quite a Tax Haven for US Businesses


Canada has not historically been known for its favourable levels of taxation. However, in the course of the past decade, corporate tax rates have been steadily reduced with the result that favourable rates of taxation are incurred by corporations with business income in Canada. Indeed, it is likely that significantly lower corporate tax rates will remain in place in Canada as compared with the United States in the near to medium term. Moreover, a favourable tax treaty provides both certainty and a variety of methods for efficiently repatriating profits to the United States. For these reasons, this may be the most attractive time in decades to consider expansion and business opportunities in Canada.

This update will provide a brief overview of the taxes incurred by a corporation subject to tax in Canada.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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