Bermuda and the Cayman Islands may have some competition for Barack Obama’s vitriol over tax havens if Canada keeps on its low-business-tax course. The Harper government in Ottawa has quietly dropped its corporate tax rate and has pressed the provinces to do the same in order to get to a low combined tax rate for businesses. American companies pressed by the threat of the Obama administration to tax overseas profits have begun to notice:In a clear indication that Canada is starting to be considered a low-tax place to do business, Tim Hortons Inc. announced Monday plans to shift its base of operations from Delaware to Canada for tax purposes.
It is looking like if we want to survive as free men and women, we have 2 choices. We can move to Texas, or we can move to Canada.
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