FEI Canada calls for tax system simplification.

• Author: Ladd, Scott
• Position: INTERNATIONAL TAX - Financial Executives International - Brief article

Financial Executives International Canada (FEIC) has called on the federal government to reduce the complexity of the taxation system and its compliance requirements in future budget proposals. Simplification, not the addition of more layers of complexity, should be the objective of the Canadian government, according to FEIC.

Simplifying the cumbersome tax act is critical to helping Canada's businesses stay competitive on the global playing field--and should be a key priority as the federal government prepares its next budget, says Michael Conway, FEIC chief executive and national president. FEIC, representing more than 2,000 chief financial officers and other senior finance executives across Canada, is a membership affiliate of FEI.

"If you look at it from a macro viewpoint, companies are a large source of tax revenue for the government, and these same companies are devoting an inordinate amount of time and money on compliance, when their managers could be spending more time advancing corporate growth and profitability," Conway...