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An article published yesterday in the National Observer argues that the offshore tax haven crisis won’t get fixed, despite the now-public Panama Papers. Bruce Livesay, the article’s author, writes:
In Canada, Stats Canada documents how much corporate money flows to notorious offshore tax havens. In 1990, only $11-billion was being “invested” in offshore tax havens by Canadian corporations: today this sum is almost $200-billion a year and growing. Moreover, an estimated $8-billion is also lost annually through tax evasion, although this sum could be more than $20-billion. […]
But guess what, this is old hat. Alain Deneault, who teaches political science at the Université de Montréal and authored a recent book called Canada: A New Tax Haven, has documented how Canada’s big banks were critical players in creating offshore tax havens in the Caribbean going back to at least the 1920s. He explains how Canadian banks got into this racket by helping out American and European banks trying to move their assets around the world. “Canadians actually transformed these jurisdictions into tax havens in order to satisfy the financial industry that needed to funnel these euro dollars outside any kind of traditional jurisdiction to manage them out of law without any kind of constraint,” he told me last year when we spoke about this issue.
Pick up a copy of Canada, a New Tax Haven for a more in-depth history of how Canada has turned to tax havens in the past, and how it has more recently become one itself.
Livesay concludes that
the Canada Revenue Agency (CRA) is happy to chase after small Canadian businesses or middle class individuals dodging some taxes, but the CRA doesn’t have the stomach or resources to go after the really big players socking away vast sums offshore. … So if you want to know why nothing ever happens with eradicating offshore tax havens, simply look at who are the beneficiaries – and who’s afraid of taking them on.
By Carl Peters
On Meta-Talon today, please enjoy the full text of the presentation given by Carl Peters at the Modern Languages Association convention in New York City on January 7, 2018. This talk responds to the question posed in the MLA convention session Rhetoric in Post-Factual Times: how to perform textual analysis in a time when facts are no longer the marker of good argumentation. (Peters’s talk is also related to his work on Stein; Peters is recently the author of Studies in Description: Reading Gertrude Stein’s Tender Buttons.)Thursday December 21, 2017 in Meta-Talon
Our little end-of-year present to you is a miniature from M.A.C. Farrant’s delightful collection of very short stories, The World Afloat. Happy Holidays from Talonbooks!
Our Spiritual Lives
We’ve seen stains on tea towels that look like Jesus Christ’s face so we know he exists. And we know that dried seaweed can save the Douglas fir from extinction so we hang dried seaweed from the tree’s branches.Tuesday December 5, 2017 in Meta-Talon
A finalist for the 2006 Governor General’s Literary Award for Drama, In a World Created by a Drunken God has been in steady demand since it was first published 11 years ago. From 2006 until the end of 2017, In a World Created by a Drunken God was in print with its original cover, which showed moving boxes and a flip phone. Now, Talonbooks has reprinted In a World Created by a Drunken God for the fourth time, and it wears a dynamic, new cover …Tuesday September 26, 2017 in Meta-Talon
From Oral to Written is a study of Native literature published in Canada between 1980 and 2010, a catalogue of amazing books that sparked the embers of a dormant voice. Leading Aboriginal author Tomson Highway surveys the first wave of Native writers published in Canada, highlighting the most gifted authors and the best stories they have told, offering non-Native readers access to reconciliation and understanding, and at the same time engendering among Native readers pride in a stellar body of work. On Meta-Talon, read a selection from Highway’s prologue.
We gratefully acknowledge the financial support of the Canada Council for the Arts; the Government of Canada through the Canada Book Fund (CBF); and the Province of British Columbia through the British Columbia Arts Council for our publishing activities.