Intricate network of winding pathways

- Organization:
- Canadian Institute of Mining, Metallurgy and Petroleum
- Pages:
- 2
- File Size:
- 223 KB
- Publication Date:
- Jan 1, 1994
Abstract
"Canada doesn't really have a tax system for mining - it has eleven separate tax systems! The consequent maze adds some undefinable margin of difficulty to making investment decisions in Canada. But, this 11U1Ze is not likely to be simplified. Solution: learn it and sell it! Intricate Network of Winding PathwaysWebster's New World Dictionary defines the word ""maze"" as follows: ""a confusing, intricate network of winding pathways; labyrinth ... a state of confusion or bewilderment"". Webster's does not go on to give an example of a maze, but the dictionary could easily have referred to the taxation of a Canadian mining operation. The uninitiated would almost certainly look upon such taxation as a maze of the most perplexing sort.Twenty years ago, Canada's tax system was really quite simple. It is true that Canadian mining profits were subject to three levels of taxation (federal income tax, provincial income tax, and provincial mining tax), but this didn't pose a problem. Prior to 1974, at least the provincial income tax systems were somewhat the same in terms of rules .and rates, and even the provincial mining tax systems resembled one another. Mining profits were subject to pretty much the same rules, no matter what province or territory hosted the mine. Those were the “good old days” one could even dare to generalize about tax rates without fear of being labelled an imbecile!"
Citation
APA:
(1994) Intricate network of winding pathwaysMLA: Intricate network of winding pathways. Canadian Institute of Mining, Metallurgy and Petroleum, 1994.