FINA Committee Meeting

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MINUTES OF PROCEEDINGS

Meeting No. 90

Thursday, June 7, 2007

The Standing Committee on Finance met in a televised session at 11:04 a.m. this day, in Room 253-D, Centre Block, the Chair, Brian Pallister, presiding.

Members of the Committee present: Hon. Diane Ablonczy, Paul Crête, Dean Del Mastro, Rick Dykstra, Hon. John McCallum, Hon. John McKay, Massimo Pacetti, Brian Pallister, Thierry St-Cyr, Hon. Robert Thibault and Judy Wasylycia-Leis.

Acting Members present: Robert Carrier for Paul Crête and Bev Shipley for Mike Wallace.

In attendance: Library of Parliament: June Dewetering, Principal Analyst ; Alexandre Laurin, Analyst . House of Commons: Marc Toupin, Legislative Clerk.

Witnesses: As an individual: Robert L. Brown. Department of Finance: Jeffrey Johns, Tax Policy Branch, Tax Legislative Division; Gérard Lalonde, Acting Director, Tax Policy Branch. University of Sherbrooke: Gilles Larin.

Pursuant to Standing Order 108(2), the Committee resumed its briefing on tax havens and tax avoidance.

The witnesses made statements and answered questions.

At 12:01 p.m., the sitting was suspended.

At 12:21 p.m., the sitting resumed.

Pursuant to the Order of Reference of Monday, May 14, 2007, the Committee proceeded to the consideration of Bill C-33, An Act to amend the Income Tax Act, including amendments in relation to foreign investment entities and non-resident trusts, and to provide for the bijural expression of the provisions of that Act.

The Committee commenced its clause-by-clause study of the Bill.

It was agreed, — That the Committee suspend its consideration of Bill C-33 until Tuesday, June 12, 2007.

By unanimous consent, Paul Crête moved, — That notwithstanding the motion of May 3, 2007 concerning tax havens, that the Committee devote henceforth 1 hour to hear witnesses and 1.5 hours to discuss its draft report on tax havens.

At 12:45 p.m., the sitting was suspended.

At 12:51 p.m., the sitting resumed in camera.

The Committee proceeded to the consideration of matters related to Committee business.

Debate on the motion continued.

It was agreed, — That notwithstanding the motion of May 3, 2007 concerning tax havens, that the Committee devote henceforth 1 hour to hear witnesses and 1.5 hours to discuss its draft report on tax havens.

At 2:00 p.m., the Committee adjourned to the call of the Chair.

Elizabeth B. Kingston
Clerk of the Committee

2007/06/11 11:25 a.m.