The Advisory Panel on Canada’s System of International Taxation provided its recommendations to the Minister of Finance in its final report, which was released Wednesday.

The panel’s recommendations seek to improve Canada’s tax system regarding outbound and inbound business investment, non-resident withholding taxes, and administration, compliance and legislative process.

The panel’s goal was “to offer pragmatic, balanced and actionable advice to the Minister of Finance.”

The advisory panel was formed by the federal goverment in November 2007 to provide recommendations to improve Canada’s international tax policy respecting foreign investment by Canadian businesses and investment into Canada by foreign businesses.

“Competitiveness at the global level is crucial to promoting growth and productivity in the Canadian economy and creating skilled jobs and wealth for Canadians,” said Peter Godsoe, the panel’s chairman, in a release.

“Canada’s international tax policy is important to support and enhance our country’s competitiveness in a changing global environment. Improving our international tax system will enhance Canada’s advantage to the benefit of all Canadians,” Godsoe said.

In addition to Godsoe, other members of the panel were: Kevin Dancey, who served as vice chairman, James Love, Nick Pantaleo, Finn Poschmann, Guy Saint-Pierre and Cathy Williams.

IE