The CEO Poll: Keep it simple
Andrew Bilski
Canadian Business Online
March 23, 2009
Canadian business leaders on tax reform
Taxes may be a necessary evil, but they shouldn’t be unduly complicated.
A recently released C.D. Howe paper on corporate tax reform struck a nerve with 108 CEOs and business leaders in a COMPAS web poll. The paper’s general proposal to allow parent companies to pay federal and provincial taxes for all their subsidiaries — using the profits, losses and tax credits available to the subsidiaries — elicited support from 82% of the panel. Only 8% were opposed.
The rationale for reform that elicited the most support was that the measure “would reduce the administrative costs of corporations, which currently undertake highly complex manoeuvres to minimize their tax burden.” It was backed by 86% of the panel and opposed by 4%.
The rationale for embracing the C.D. Howe proposal that elicited the least support was that “the reform would create a level playing field among different types of corporations.” It was backed by 72% of respondents and opposed by 17%.
Said another respondent: “Anything that simplifies the tax system and reduces complexity is welcome. The sooner we do this the better.”
To view complete results and additional polls, please click here.
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