TAFIC can make a difference in the design and performance of the Canadian tax and fiscal system. The Centre’s overall objective is to make recommendations concerning reform of the system of fiscal incentives, including both personal and business taxation and subsidies, which would increase Canadian competitiveness and economic efficiency.
To meet this objective, TAFIC would focus on six major research themes:
- Examine the full system of fiscal incentives, including business and personal taxation and subsidies, with a view to measuring their impact on productivity and competitiveness.
- Analyze the system of resource taxation, including royalties, to insure the proper incentives to invest are in place, while providing a solid revenue base for individual provinces.
- Consider how to simplify the system of taxes, tax expenditures and subsidies, and reduce the burden of compliance;
- Study the design and use of fiscal incentives as a tool of responsible fiscal management.
- Assess the equity and effectiveness of the current system of fiscal incentives and tax expenditures.
- Evaluate the design of the tax system and the impact of fiscal incentives on income inequality, and the economic consequences.
TAFIC will provide Canadian business leaders and policy-makers with a forum to discuss the critical reforms required to improve the system of fiscal incentives, focusing on the above six themes, based upon the quantitative analysis of the fiscal and economic impacts of proposed changes to the Canadian system of taxes and fiscal incentives. This unique combination of research and dialogue will give TAFIC members a credible voice in redesigning and improving the entire gamut of Canadian fiscal incentives.