OTTAWA—Canada’s government is planning targeted measures to boost competitiveness rather than a broad, across-the-board cut to the nation’s benchmark corporate tax rate, according to an official familiar with the plans. Major economies around the world have been cutting corporate taxes in a bid to spur investment. The official cited previous comments from Morneau saying changes to capital cost allowances are among the measures being considered. Canada’s combined federal and provincial corporate tax rate remains about 27 per cent while in the U.S. it fell to 21 per cent from 35 per cent, according to the study. “Given the current climate south of the border, it’s difficult to compete with them on corporate taxes.

Source: thestar September 12, 2018 18:45 UTC