SoVote

Decentralized Democracy

Member of Parliament

Chandra Arya

  • Member of Parliament
  • Member of Parliament
  • Liberal
  • Nepean
  • Ontario
  • Voting Attendance: 67%
  • Expenses Last Quarter: $104,578.46

  • Government Page
Context: House Hansard - 177 - Mar/31/23
Mr. Chandra Arya (Nepean, Lib.)
  • Mar/31/23 10:51:20 a.m.
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Madam Speaker, I agree with my hon. colleague on the question of disclosing the citizenship of the shareholders of a corporation. There should not be any legal protection offered to foreigners who invest in Canadian corporations. We have been seeing that corporations are being incorporated with no other purpose than to have transactions and processes that lead to nothing but tax avoidance and, in some cases, even to money laundering. I want to touch on something the member mentioned about the significant shareholding and the threshold, which is 25% in some jurisdictions and 10% in some jurisdictions. As the member very clearly stated, that is a loophole where, very easily, five people could form a corporation with 20% each or 11 people could form a corporation. Therefore, should there be any threshold at all that prevents the disclosure of the beneficiary?
141 words
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