UPDATE: Business Tax Reform
The Tri-Cities Chamber of Commerce welcomes the government’s plans to revise its proposed tax reforms and to reduce the small business tax rate as a result of the comments and concerns expressed from businesses and chamber’s across Canada.
“We are pleased with the announcements from the government today reducing the small business tax rate. This is a good first step but I will remain concerned and vigilant as details of the proposed changes are announced over the coming days,” says Chamber CEO, Michael Hind. “With the USA poised to change their business tax structure, it is now more important than ever to consult with the stakeholders and create a system that will keep the Canadian economy strong and propel it forward in the future.”
As Canadians celebrate Small Business Week, Chamber representatives congratulate the thousands of business people who joined the mobilization and made their voices heard on this important issues affecting Canadian workers and employers. We are proud to have used our collective voice to activate change at the federal level.
The Tri-Cities Chamber also noted the Federal Minister’s call for further input from Canadian businesses, and intends to continue providing a voice to ensure the tax system is simpler and less of a burden on Canada’s competitiveness.
“It is always more productive when government and business work together. We can only hope the government will listen as we provide advice on those areas where more remains to be done, and that they will propose concrete data to back up their claims. The Canadian Chamber will be working with the Tri-Cities Chamber of Commerce and other chambers across the country for suggestions on reforms that can improve the competitiveness of Canada’s tax system. Lowering the small business tax rate is one such measure, but there is still much room for improvement,” said Perrin Beatty, President and CEO of the Canadian Chamber of Commerce. “We must ensure that Canada, remains an attractive place to do business. Although there is a great deal of work to be done, today’s announcement is a positive first step, but we expect more and we will be vigilant on the next steps,” he concluded.