Publication follows Forbes ranking for Canada as ‘Best Country for Business’
Nexia International has produced a free guide to “Doing Business in Canada”, aimed at companies looking to set up or expand their business operations in the country.
Publication of the report coincides with Canada’s number one ranking in Forbes magazine’s annual look at the Best Countries for Business. While other countries have struggled to kick-start their economic growth, Canada grew 3.1% last year and is expected to grow by 2.4% in 2011. [1]
The country’s success in the Forbes rankings is in partly due to a favourable tax regime, which includes reduced corporate and employee tax rates and the introduction of a Harmonised Sales Tax in Ontario and British Columbia last year.
Laurence Zeifman, managing partner at Zeifmans LLP, the Toronto member firm of the Nexia International accounting network and chair of its Canadian division, Nexia Canada, said: “The conservative lending practices and strong capitalization of Canada’s banks meant the country escaped the banking crisis virtually unscathed. And, despite tough economic conditions, it has continued to maintain a strong economic footing – introducing key reforms to increase Canada’s competitiveness as an attractive place to do business.
“The country’s ranking in Forbes reinforces Canada’s commitment to supporting entrepreneurial businesses. It’s in the top five for both investor protection and lack of red tape - categories used to measure how easy it is to start a business - and in the top ten for low tax burden.
Bill Davidson of Vancouver-based Davidson & Company LLP and deputy chair of Nexia Canada, said: “The release of our Doing Business in Canada guide is timely and a must-read for anyone looking to set up or expand their business interests in Canada. It covers general business and legal requirements, taxation, labour regulations, welfare and social security, and provides a one-stop-shop information source for potential overseas investors.”
For a copy of the report, access
here 
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