Monday, August 17, 2009

Revenue Canada claims the interest paid on CanWest's international loans are taxable by Canada

Revenue Canada claims the interest paid on CanWest's international loans are taxable by Canada

CanWest's international lenders owe hundreds of millions in taxes to Canada
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CanWest's international lenders are a scam to control and subjugate Canada. Lending scam retains control of Canada's newspapers. Newspapers a lot more than a publishing company's bottom line -- newspapers dictate the dissemination and follow of information of a nation, and affect political and economic debate.

Extra benefits CanWest international lenders received:
1)Double digit interest rates on loans. Double the market rate.
2)Required CanWest shareholders to buy currency- interest derivatives putting the Canadian dollar. CanWest shareholders lost (transferred to the lender) hundreds of millions of dollars in these derivative purchases. Not above board.
3)Debt covenants. As CanWest's international loan international loan agreements formally state that this debt is not recognized in Canada or US. No tax paid kick back.
4)International lenders influenced Canadian newspaper comment. Like positioning Canada's newspapers to reject protectionism, and losing elections for the NDP.