Statistics Canada is extending on the dashboard of indicators using data from the Country-by-Country report to monitor whether multinational enterprises operating in Canada are shifting profits to lower tax countries, also known as Base Erosion and Profit Shifting. These indicators suggest that in 2016, some multinational enterprises in Canada may have shifted profits to minimize the amount of taxes they owed globally.
The Organization for Economic Co-operation and Development has estimated that globally, this practice accounts for a significant amount in lost tax revenue annually.
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