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After many years of tax cutting, Canada provides the
third lowest tax rate for business, according to a study by KPMG of 10
western countries. Only Mexico and the Netherlands have lower
taxes, the accounting firm stated. Australia, the United States,
the U.K., Japan, Germany, Italy and France all impose a higher corporate
tax load.
The study also found Toronto ranked seventh among 35
international centres. Toronto has higher business taxes than
New York City, but lower than Montreal and Vancouver.
Of course, KPMG is pressing for further reductions in
corporate tax rates – no doubt mindful of the impact on public health
care, education, housing, sanitation and transportation.
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