TEI Submits Comments Regarding Proposed Canadian 2% Buyback Tax

On February 23, TEI submitted comments to the Canadian finance minister, Chrystia Freeland, regarding the proposed Canadian 2% tax on share buybacks. TEI took the view that Canada should not implement a share buyback tax. Should Canada implement such a tax, however, the Institute’s recommendations included that the tax be more closely aligned with the US version of the tax with respect to both the tax rate and exclusions from the US tax. TEI’s comments were prepared under the aegis of its Canadian Commodity Tax Committee, chaired by Steve Saunders. Benjamin Shreck, TEI tax counsel, coordinated the preparation of the Institute’s comments. Read the comments here.