Canada should cut corporate tax rate and incentivize high-tech investments: Mintz
MONTREAL — The Canadian government needs to shave a bit off the corporate tax rate and provide financial incentives for investments in artificial intelligence and robotics following U.S. tax reforms, says a leading tax expert.
“I think there’s room for tax reform,” said Jack Mintz, a professor at the University of Calgary.
He said the combined Canadian corporate rate should drop two percentage points to 25 per cent to protect the government’s tax base while the government also gives a signal encouraging more investment.
The U.S. cut its corporate tax rate to 21 per cent from 35 per cent, allowed firms to immediately write off investments in equipment and removed taxation on dividends.