Canada raises more tax revenue by lowering corporate rate. Huhhhhh? How could that be?
Corporate tax revenues higher despite lower rate
Corporate tax revenues coming in to Ottawa were up slightly last year, even as the Conservative government was in the midst of an aggressive plan to lower the corporate tax rate.
The federal government raised $31.7-billion from corporate taxes in the fiscal year that ended March 31, up from $30-billion in 2010-11.