Tag: Tax

Canada paid nearly $200M to visa company previously based in a tax haven and linked to China

by  on  in foreign business

When Tobias Denskus, a professor of international development in Sweden, applied to come to Canada in February 2019 to renew his permanent residency it wasn’t just the “bad experience” that concerned him.



a screen shot of a computer: VFS Global collects visa application information and biometric data at Canadian visa application centres around the world.

© (Andrew Russell/Global News)
VFS Global collects visa application information and biometric data at Canadian visa application centres around the world.

He said he was alarmed at handing over his most sensitive information to VFS Global, a massive visa outsourcing corporation. Until 2019, the company operated out of Mauritius, a known tax haven, and is also backed by a Chinese state-controlled investment fund.

“My impression after going through the process with VFS was that it felt much worse than dealing directly with Canadian government entities, dealing directly with Immigration Canada,” Denskus told Global News from Malmo, Sweden.

He said his application was delayed for weeks because the company failed to inform him that only UPS would deliver to

…

Canada compensated practically $200M to visa corporation earlier centered in a tax haven and linked to China

by  on  in foreign business

When Tobias Denskus, a professor of worldwide improvement in Sweden, applied to arrive to Canada in February 2019 to renew his everlasting residency it wasn’t just the “bad experience” that concerned him.

When Tobias Denskus, a professor of global advancement in Sweden, applied to occur to Canada in February 2019 to renew his long term residency it wasn’t just the “bad experience” that involved him.

He stated he was alarmed at handing about his most sensitive info to VFS World wide, a substantial visa outsourcing corporation. Until 2019, the organization operated out of Mauritius, a recognized tax haven, and is also backed by a Chinese condition-controlled investment fund.

“My impression just after heading through the process with VFS was that it felt significantly even worse than dealing specifically with Canadian authorities entities, dealing specifically with Immigration Canada,” Denskus explained to International News from Malmo, Sweden.

He stated his application was

…

Canada paid nearly $200M to visa company previously based in a tax haven and linked to China – National

by  on  in foreign business

When Tobias Denskus, a professor of international development in Sweden, applied to come to Canada in February 2019 to renew his permanent residency it wasn’t just the “bad experience” that concerned him.

He said he was alarmed at handing over his most sensitive information to VFS Global, a massive visa outsourcing corporation. Until 2019, the company operated out of Mauritius, a known tax haven, and is also backed by a Chinese state-controlled investment fund.

“My impression after going through the process with VFS was that it felt much worse than dealing directly with Canadian government entities, dealing directly with Immigration Canada,” Denskus told Global News from Malmo, Sweden.

He said his application was delayed for weeks because the company failed to inform him that only UPS would deliver to their offices in Stockholm.

“I felt quite sorry for those who experienced this for the first time, for example, for a

…

How Biden’s tax proposals could have an effect on U.S. individuals in Canada

by  on  in foreign business

Potential tax modifications in the U.S. will also have an impact on rich Canadians with belongings in that state.

ROMAN/iStockPhoto / Getty Pictures

Economic advisors with consumers who are U.S. persons dwelling in Canada want to get ready them for probable tax modifications underneath president-elect Joe Biden’s administration, which is set to get above the White House later this thirty day period.

Whilst the probability of a divided Congress is expected to dampen or even diffuse some of the tax hikes proposed in the Democrat’s campaign system, it is a fantastic time for American ex-pats, specifically the rich, to think about their holdings and restructure them as required.

“For advisors, it’s not about predicting the long term, it is more about sitting down with a customer and indicating, ‘Here are some probable things that could transpire,’ and figuring out how we must be wondering about them and positioning the customer

…

Canada plans to clamp new tax on foreign house buyers

by  on  in foreign business

OTTAWA (Reuters) – Canada is readying a new tax on overseas home consumers to assistance tamp down on speculative purchases from overseas, cited as a aspect driving sharp rises in housing price ranges in some marketplaces that have still left numerous Canadians not able to afford homes.

The new tax was talked about in a fiscal doc released on Monday, although number of information were being given. The timing and scope of the actions would very likely be outlined in the spring price range, anticipated in March or April, a senior federal government supply explained.

“Speculative demand from foreign, non-resident buyers contributes to unaffordable housing costs for lots of Canadians,” the govt said in its Drop Financial Statement.

“The govt is committed to making certain that international, non-resident entrepreneurs, who simply use Canada as a location to passively retail outlet their wealth in housing, fork out their fair share.”

International

…

Canada plans electronic tax in 2022 on world-wide tech giants this kind of as Fb, Google

by  on  in foreign business

OTTAWA (Reuters) – Canada ideas to impose a tax on organizations providing digital expert services from 2022 that will remain in spot until major nations come up with a coordinated tactic on taxation, the Finance Office mentioned on Monday.

The Organisation for Economic Cooperation and Improvement is functioning on a widespread technique to guarantee electronic behemoths, these kinds of as Alphabet Inc’s Google and Facebook Inc, pay back their share of taxes as the coronavirus hammers budgets.

Canada explained it was worried about a delay in reaching settlement. The risk of electronic solutions taxes has prompted threats of trade retaliation from outgoing U.S. President Donald Trump’s administration.

The new tax would come into impact on Jan. 1, 2022, and continue being in spot until finally a popular strategy is agreed upon. The evaluate would increase federal revenues by C$3.4 billion ($2.6 billion) about five many years, starting in the 2021-22

…

Canada plans to clamp new tax on foreign property consumers

by  on  in foreign business

OTTAWA (Reuters) – Canada is readying a new tax on overseas residence potential buyers to assist tamp down on speculative purchases from abroad, cited as a factor powering sharp rises in housing rates in some markets that have still left numerous Canadians unable to afford houses.

The new tax was talked about in a fiscal document released on Monday, while couple of specifics were provided. The timing and scope of the steps would probable be outlined in the spring spending plan, expected in March or April, a senior governing administration resource mentioned.

“Speculative desire from overseas, non-resident investors contributes to unaffordable housing price ranges for lots of Canadians,” the govt mentioned in its Drop Financial Assertion.

“The governing administration is dedicated to guaranteeing that overseas, non-resident homeowners, who simply just use Canada as a spot to passively shop their wealth in housing, pay their truthful share.”

International speculators have been

…

Canada designs to clamp new tax on international house buyers

by  on  in foreign business

OTTAWA (Reuters) – Canada is readying a new tax on international property customers to help tamp down on speculative buys from overseas, cited as a component at the rear of sharp rises in housing price ranges in some markets that have left a lot of Canadians not able to afford to pay for homes.

The new tax was described in a fiscal doc revealed on Monday, nevertheless few facts were offered. The timing and scope of the steps would very likely be outlined in the spring spending plan, predicted in March or April, a senior government supply mentioned.

“Speculative demand from customers from foreign, non-resident investors contributes to unaffordable housing costs for quite a few Canadians,” the authorities stated in its Slide Economic Assertion.

“The government is dedicated to ensuring that international, non-resident proprietors, who only use Canada as a put to passively retail outlet their wealth in housing, pay

…

Canada options to clamp new tax on international house buyers | Reuters | Small business

by  on  in foreign business

By Julie Gordon

OTTAWA (Reuters) – Canada is readying a new tax on international household potential buyers to assist tamp down on speculative buys from overseas, cited as a issue driving sharp rises in housing price ranges in some marketplaces that have remaining numerous Canadians not able to manage residences.

The new tax was stated in a fiscal doc posted on Monday, though couple of particulars had been presented. The timing and scope of the measures would probably be outlined in the spring spending plan, expected in March or April, a senior government source claimed.

“Speculative need from foreign, non-resident buyers contributes to unaffordable housing prices for quite a few Canadians,” the federal government explained in its Fall Financial Statement.

“The government is committed to ensuring that overseas, non-resident owners, who merely use Canada as a area to passively retail store their wealth in housing, spend their honest share.”

International

…

Canada plans to clamp new tax on international household prospective buyers

by  on  in foreign business

OTTAWA (Reuters) – Canada is readying a new tax on foreign household buyers to aid tamp down on speculative purchases from overseas, cited as a component driving sharp rises in housing price ranges in some marketplaces that have left many Canadians not able to manage residences.

The new tax was outlined in a fiscal document revealed on Monday, though handful of facts were being given. The timing and scope of the steps would possible be outlined in the spring price range, predicted in March or April, a senior federal government resource said.

“Speculative demand from customers from international, non-resident buyers contributes to unaffordable housing charges for quite a few Canadians,” the government explained in its Tumble Economic Assertion.

“The govt is fully commited to making certain that foreign, non-resident house owners, who just use Canada as a put to passively retail store their prosperity in housing, shell out their honest

…