COUNCIL SAYS COMPANIES CONTROLLED BY WOMEN SHOULD GET TAX BREAK

May 16, 2018

By Michael Kramer

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A cross-border council on women in business recommends that companies controlled by women – should get lower tax rates.

The Canada-United States Council for Advancement of Women Entrepreneurs and Business Leaders made the suggestion in a report released Wednesday – offering recommendations for how companies can better support women in business.

The group interviewed investors, institutions, asset managers, pension funds and venture capital firms – and found that women are not being financially backed at the same level as men – and are less likely to have leadership roles within corporations.

That’s why it called for a lower tax rate for women-owned businesses, similar to the lower rates already offered to private corporations that are Canadian-controlled.

The council was created by Prime Minister Justin Trudeau and U.S. President Donald Trump last year – and aims to help women-owned businesses contribute to economic growth, competitiveness and the integration of the two economies.

The commission is made up of female executives – half from Canadian companies and the other half from American companies.

 

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