#corporate tax accountant in Montreal

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Unraveling the Role of Corporate Tax Accountants in Montreal

Introduction:

Navigating the complex terrain of corporate taxes in Montreal can be daunting for businesses of all sizes. This guide aims to shed light on the crucial role of corporate tax accountants in Montreal and how they contribute to financial success.

Understanding Corporate Taxation in Montreal:

Corporate taxation is a vital aspect of financial management for businesses operating in Montreal. It encompasses various taxes such as federal and provincial income taxes, sales taxes, and payroll taxes. Navigating these tax regulations requires expertise and precision to ensure compliance while maximizing tax efficiency.

Role of Corporate Tax Accountants:

Tax Planning: Corporate tax accountants in Montreal play a pivotal role in tax planning strategies. They analyze financial data, identify tax-saving opportunities, and devise strategies to minimize tax liabilities within the legal framework.

Compliance: Staying compliant with tax laws is paramount for businesses. Tax accountants ensure accurate and timely filing of tax returns, adherence to reporting requirements, and compliance with tax regulations to avoid penalties and audits.

Financial Analysis: Beyond tax preparation, corporate tax accountants provide valuable financial analysis. They assess financial statements, identify areas for improvement, and offer insights to enhance profitability and cash flow management.

Strategic Advice: Tax accountants serve as trusted advisors, guiding businesses on strategic financial decisions. From entity structuring to mergers and acquisitions, they provide valuable insights to support long-term financial goals.

Why Choose a Corporate Tax Accountant in Montreal?

Local Expertise: Corporate tax accountants in Montreal have a deep understanding of local tax laws, regulations, and industry-specific nuances, ensuring tailored and effective tax strategies.

Risk Mitigation: By partnering with a skilled tax accountant, businesses can mitigate tax risks, avoid costly errors, and maintain compliance, fostering financial stability and growth.

Time and Cost Efficiency: Outsourcing tax-related tasks to professionals allows businesses to focus on core operations, saving time, reducing administrative burdens, and optimizing resource allocation.

Conclusion:

In conclusion, corporate tax accountants in Montreal play a pivotal role in navigating the intricate landscape of corporate taxation. Their expertise in tax planning, compliance, financial analysis, and strategic advice empowers businesses to achieve financial success while staying compliant with tax laws. Partnering with a reputable corporate tax accountant is a strategic investment that can yield long-term benefits and enhance overall financial health.

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For assistance with filing Corporate Tax returns, only trust professional and certified CPAs, who are adept and aware of the changing taxation policies. SJT CPA is one of the most trusted Accounting and Taxation firms in Montreal, Quebec, with an excellent track record for providing Accounting and Taxation solutions to businesses. Connect Now!

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Top Bookkeeping & Accounting Services in Montreal | Account Tax Pros

Discover top-tier bookkeeping and accounting services in Montreal with our experienced team. We offer comprehensive financial management solutions, including precise bookkeeping, accurate accounting, and personalized support. Whether you're a small business or a large corporation, trust us to provide reliable and tailored services to meet all your financial needs with professionalism and expertise.

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Fetter Financial Corporation is the best Accounting Firm in Montreal. We provide industry-leading audit, consulting, tax, and advisory services to our clients.

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How Can You Quickly Determine Your Quebec Tax Amount?

To ascertain your Quebec tax liability promptly, begin by familiarizing yourself with the fundamentals of both TVQ (Quebec Sales Tax) and TPS (Goods and Services Tax). Find the entire amount before taxes first. The TPS and TVQ should then be determined using the relevant rates. Apply the TPS rate of 5% and the TVQ rate of 9.975%, for instance, to your sum. To calculate the overall tax, add the tax amounts. For an exact computation, speak with a tax professional or use internet tax calculators for a quicker answer. Maintaining compliance and financial precision is aided by accurate tax computations. Knowing How Quebec Taxes Are CalculatedAccurately computing Quebec tax is essential for managing finances. Accurate reporting and compliance are ensured by comprehending the subtleties of tax calculations, which benefits both people and corporations. A comprehensive guide to tax calculations is provided here, with an emphasis on important phrases such as TPS and TVQ Calculation, Reverse Calculation TPS TVQ, Calculation TPS and TVQ, and Calculates Quebec Tax. A Montreal Accountant’s Function

Prior to taxes Calcule De Taxe Québec Knowing the total amount Avant Taxesis crucial when putting up your financial documentation. The TPS and TVQ are computed using this number as the foundation. To guarantee proper tax computations, start by figuring out this sum.

How to Determine TVQ and TPS Use these procedures to calculate the total quantity of TPS and TVQ:

Determine the Goods and Services Tax (TPS): To the sum before taxes, apply the TPS rate. To find the TPS amount, for example, multiply the rate (5% of the subtotal) by the rate.

Compute TVQ (Quebec Sales Tax): Utilize the TVQ rate in the same manner for the amount prior to taxes. Generally, the TVQ rate is 9.975%. To find the TVQ amount, multiply this rate by the subtotal.

Add Taxes: To determine the total amount of tax due, add the TPS and TVQ amounts together.

Determine the Total Amount, Taxes Included: Commence with the total amount, which comprises TVQ and TPS.

Apply Reverse Formula: To determine the amount before taxes, apply the reverse formula. To find the pre-tax amount, divide the whole sum, for instance, by (1 + TPS rate + TVQ rate), if you know it.

Check Calculations: Make sure your results are accurate by comparing them to tax tables or expert guidance.

Appropriate Compute To ensure financial correctness and conformity with Quebec’s tax rules, TPS and TVQ are necessary. You can make sure that your financial accounts are precise and dependable by knowing these formulas, regardless of whether you are handling your taxes on your own or with the assistance of a Montreal accountant. You can successfully manage Quebec’s tax needs by adhering to the specified procedures and using the reverse calculation approach as needed.

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small business accountant Mississauga

jmlaccounting.ca is one of the best tax accounting services provider in canada he offer best small business accountant Mississauga,

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At JML Accounting Inc you receive quality and efficiency for your personal tax returns. We offer value by partnering with individuals to understand and deliver on your personal and business tax needs. Let us give you comfort and peace of mind utilizing our quality systems. We will help you understand the process from start to finish. We want you to feel confident when hiring us to do your taxes. Our team will make sure your taxes are prepared and filed the proper way, our accountants have successfully filed thousands of individual and business tax returns over the years.

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CPA Chartered Professional Accountant Montreal

CPA Chartered Professional Accountant Montreal is a team of experienced Chartered Professional Accountants (CPA) committed to improving the financial well-being of our clients, which can include individuals, self-employed individuals, professionals, and corporate accounts. By using advanced accounting and fiscal procedures, methods, and strategies, we aim to: Maximize profits Minimize taxes Provide reliable and efficient financial, accounting, and tax advice when you need it most Help build a more profitable, valuable, and marketable business Be proactive in our approach by offering accounting and tax services that go beyond compliance Anticipate your needs and offer guidance to help you succeed.

CPA Chartered Professional Accountant Montreal is our proactive behavior means we're always one step ahead of potential issues, and we're constantly preparing for and anticipating your future needs, rather than simply reacting to what has already happened. We believe in taking control and making things happen, rather than just responding to circumstances as they arise. This approach sets us apart from other accounting firms, and it has helped us earn our reputation for excellence and success, based on the high levels of satisfaction our clients experience. To maintain this high level of quality, we only work with the best of the best and are continually updating our knowledge and skills. Whether you're an individual, independent professional, or multinational company, DFD-CPA offers tailored accounting services to meet your specific needs. We focus on providing tangible benefits that can help you achieve your goals, and we're dedicated to ensuring customer satisfaction CPA Chartered Professional Accountant Montreal. At DFD-CPA, we understand that accounting is a discipline that requires accuracy, expertise, proactivity, sensitivity, and honesty. These five principles guide every aspect of our work, and we conform to the strictest industry standards to provide high-quality services. Our ability to simplify complex accounting tasks is highly valued by our clients, and our vision for accounting has earned us the loyalty of hundreds of satisfied customers. Contact us today to see how we can help you improve your financial well-being. https://www.dfd-cpa.ca

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Bart Kitner Kitco

Kitco's president and founder, Bart Kitner, has been purchasing and selling genuine precious metals for over 30 years, earning a reputation as one of the most reputable names in the bullion industry. In the late 1970s, a motivated young guy with an eye for chances made his initial forays into the corporate world.

Bart Kitner was a college student with a modest $700 loan at the time, but his vision was anything from little. His story is the driving force behind Kitco, one of the most trusted names in the precious metals market today. For detailed information, check out: Kitco Reviews

Bart Kitner: Early Days

Kitner’s journey began with a simple but overlooked business niche. He began by buying scrap gold from various jewellers across Eastern Canada. After refining the gold, he sold the pure gold grain to larger industry players. This business model, though modest, was the foundation upon which Kitner built his empire. Upon graduating from McGill University, Kitner decided to venture full-time into his business. He soon expanded his operations into other industrial areas. By the late 1990s, Kitner had successfully ventured into the precious metals products market.

Bart Kitner: Launch of Kitco.com

1995 marked a significant turn in Kitner's business journey. He launched Kitco.com, taking his business online during the early years of the Internet.

This move democratized market information such as prices, trends, and news, which were previously guarded by a few big players. Kitco.com soon became the go-to source for precious metals market information. Today, Kitco has grown from a small apartment-based business into a global enterprise. The company now boasts offices in Montreal, New York, and Hong Kong. The entrepreneurial spirit that marked Kitner's early years continues to drive the company forward.

Kitco News: A Trusted Source for Market Insights

Kitco News, the journalistic division of Kitco, provides in-depth articles and videos on market trends and news. It was one of the first organizations to cover the Gold Anti-Trust Action Committee's (GATA) lawsuit against the Federal Reserve. It also focuses on issues such as conflict minerals in the Congo. Bart Kitner: Business Model One of Kitco’s main business lines is the purchase of scrap precious metals. The company pays its supplier's sales taxes on these purchases and receives tax credits for the corresponding amounts. However, the company has faced challenges with some suppliers failing to repay the taxes owed, leading to legal disputes. Kitco’s Creditor Protection Journey In 2011, following a raid by Revenue Quebec, Kitco was granted CCAA creditor protection by the courts, similar to U.S. Chapter 11 bankruptcy protection. The company has since paid most of its creditors in full, with others receiving partial payments. The company continues to contest allegations by ARQ.

Kitco Pool: An Innovative Approach to Precious Metals Investment

Kitco offers unallocated precious metals accounts, known as "Kitco Pool." These accounts, backed by the "general stock" of the dealer, function like IOUs. In the event of bankruptcy, a pool holder would become an unsecured creditor of the company. However, Kitco has addressed these concerns by stating that the Kitco Pool is 100% backed by physical precious metals, segregated from Kitco's own assets and entirely belonging to Kitco Pool customers.

Why Are Investors Diversifying Their Portfolio?

Experts agree that the financial market is now even more fragile than pre-2008. Will your retirement portfolio weather the imminent financial crisis? Threats are many. Pick your poison..

The financial system would be in great peril if one or more big banks fail. "When we get to a downturn, banks won't have the cushion to absorb the losses. Without a cushion, we will have 2008 and 2009 again."

Student debt, which has been on a steep rise for years, could figure greatly in the next credit downturn. "There are parallels to 2008: There are massive amounts of unaffordable loans being made to people who can't pay them"

The US national debt has spiked $1 trillion in less than 6 months! "If we keep throwing gas on flames with deficit spending, I worry about how severe the next downturn is going to be--and whether we have enough bullets left ,"

Total household debt rose to an all-time high of $13.67 trillion at year-end 2019. "Any type of secured lending backed by an asset that is overvalued should be a concern… that is what happened with housing." Get in touch with an expert using the button down below: The Future of Kitco: Continuing the Legacy Kitco's journey from a small college startup to a global precious metals enterprise is a testament to Bart Kitner's entrepreneurial spirit and vision. Despite challenges and market changes, Kitco continues to stand as a reliable name in the industry. With its commitment to transparency, innovation, and customer service, Kitco continues to shape the future of the precious metals market.

Conclusion

In conclusion, Bart Kitner's Kitco is a shining example of how a simple idea, backed by hard work and a keen eye for opportunities, can revolutionize an industry. Today, Kitco stands tall as a trusted source of precious metals market information and a reliable platform for precious metals trading. Despite the challenges it has faced, Kitco's commitment to its customers and its innovative approach has ensured its continued success in the ever-evolving financial market. Opening a precious metals IRA is a major decision. That's why I suggest checking out our top gold IRA providers list. There, you can find the best precious metals dealer in your state and choose accordingly. Also, the list will help you understand what the industry's best has to offer. Furthermore, it helps with what you might miss out on. Find the best Gold IRA company in your state Read the full article

[atlanticcanada]

Less than a quarter of Canadians are happy with how the government spends money: Ipsos survey

Less than a quarter (23 per cent) of Canadians think the federal government is properly spending money on the most important issues facing the country, according to new survey data from Ipsos.

The survey, conducted on behalf of the Montreal Economic Institute, also found 64 per cent of people think the government is doing an ineffective job allocating funds to address important problems, while 13 per cent said they don't know or preferred not to answer.

More than half of Canadians (55 per cent) said the government spends too much money, while 27 per cent think it is an acceptable level, according to the poll. Only nine per cent of Canadians said government spending is too low, while another nine per cent said they don't know or preferred not to answer.

The majority of those surveyed (67 per cent) think they pay too much money in income tax, while one per cent think they don’t pay enough. According to Ipsos, 65 per cent of men and 70 per cent of women believe the amount they pay in income tax is too high. Younger Canadians (aged 18 to 34) are more likely to think taxes are too high (72 per cent) compared to Canadians aged 55 and older (63 per cent).

The poll also found most people (63 per cent) are unhappy with the accountability and transparency of the government's spending practices—31 per cent said they were satisfied with them.

The poll gauged Canadians' thoughts on carbon pricing, which people are generally slightly more likely to dislike. Ipsos says 25 per cent of Canadians strongly oppose it and another 20 per cent somewhat oppose it—in total, 41 per cent of people said they support carbon pricing while 45 per cent oppose it. Fifteen per cent of people said they don't know or preferred not to answer. According to the data, 68 per cent of people from Atlantic Canada oppose carbon pricing, while 47 per cent of Quebecers support it.

More than six in ten Canadians think higher government spending over the past three years is causing higher levels of inflation, while 26 per cent disagree. A similar amount of men (26 per cent) and women (25 per cent) said they disagree that government spending is driving inflation up.

TAXING THE RICH

A third of Canadians (33 per cent) believe people who earn more than $250,000 per year can be considered rich, while just over a quarter (27 per cent) say it should be people who make more than $500,000 per year. According to the survey, to be considered a rich person, 17 per cent of people said you need to make more than $100,000, 16 per cent said more than $1 million and seven per cent said more than $5 million.

Ipsos data also shows 71 per cent of Canadians say increasing corporate taxes will drive up prices for consumers, 80 per cent of people from Quebec feel the same, while 24 per cent of people from Ontario disagree. Sixty-one per cent of Canadians say higher taxes will discourage wealthy people from staying in Canada, a similar percentage of people across all regions agree.

However, more than 43 per cent of people believe the rich should pay more than half of their income in taxes while 33 per cent say the rich pay their fair share. Western Canadians were more likely to disagree that the rich should pay 50 per cent of their income in tax, and 35 per cent of people from the same region say the rich shouldn't be taxed further. Sixty-nine per cent of people aged 55 and older say the rich do not pay their fair share of taxes in Canada, while just under half (49 per cent) of people aged 18 to 34 agree.

METHODOLOGY

These are the findings of an online Ipsos poll conducted on behalf of the Montreal Economic Institute. A sample of 1,020 Canadian residents aged 18 years and over was interviewed between the June 29th and July 3rd, 2023. Weighting according to age, gender and region was employed to ensure that the sample's composition is representative of the overall population according to the latest census information. The precision of Ipsos online polls is measured using a credibility interval. In this case, the results are accurate to within +/- 3.5 percentage points, 19 times out of 20 , of what the results would have been had all Canadian adults been polled. Some totals may not add up to 100 per cent due to rounding.

from CTV News - Atlantic https://ift.tt/ZNS3ndW

[habibur86]

DFD-CPA is a team of experienced Chartered Professional Accountants (CPA) committed to improving the financial well-being of our clients, which can include individuals, self-employed individuals, professionals, and corporate accounts. By using advanced accounting and fiscal procedures, methods, and strategies, we aim to:Maximize profits Minimize taxes Provide reliable and efficient financial, accounting, and tax advice when you need it most Help build a more profitable, valuable, and marketable business Be proactive in our approach by offering accounting and tax services that go beyond compliance Anticipate your needs and offer guidance to help you succeed.

Our proactive behavior means we're always one step ahead of potential issues, and we're constantly preparing for and anticipating your future needs, rather than simply reacting to what has already happened. We believe in taking control and making things happen, rather than just responding to circumstances as they arise. This approach sets us apart from other accounting firms, and it has helped us earn our reputation for excellence and success, based on the high levels of satisfaction our clients experience. To maintain this high level of quality, we only work with the best of the best and are continually updating our knowledge and skills.

Whether you're an individual, independent professional, or multinational company, DFD-CPA offers tailored accounting services to meet your specific needs. We focus on providing tangible benefits that can help you achieve your goals, and we're dedicated to ensuring customer satisfaction.

At DFD-CPA, we understand that accounting is a discipline that requires accuracy, expertise, proactivity, sensitivity, and honesty. These five principles guide every aspect of our work, and we conform to the strictest industry standards to provide high-quality services. Our ability to simplify complex accounting tasks is highly valued by our clients, and our vision for accounting has earned us the loyalty of hundreds of satisfied customers. Contact us today to see how we can help you improve your financial well-being.

[jodex99]

The Role of a Corporate Tax Accountant in Montreal

In the bustling financial hub of Montreal, businesses face a myriad of challenges, and navigating the complex landscape of corporate taxes is chief among them. A seasoned corporate tax accountant can be the guiding force that ensures financial success and compliance for businesses large and small. Let's delve into the crucial role these professionals play in the financial ecosystem of Montreal.

Understanding Corporate Taxation in Montreal

At the heart of every successful business strategy lies a solid understanding of corporate taxation. Montreal, being a vibrant economic center, demands meticulous attention to tax regulations that govern businesses. A proficient corporate tax accountant possesses in-depth knowledge of federal, provincial, and municipal tax laws, ensuring that businesses optimize their tax positions while remaining fully compliant.

Strategic Tax Planning for Business Growth

One of the key responsibilities of a corporate tax accountant is strategic tax planning. By analyzing a company's financial data and industry dynamics, these professionals devise tax-efficient strategies that minimize liabilities and maximize profits. Whether it's optimizing deductions, leveraging tax credits, or structuring mergers and acquisitions, a skilled tax accountant in Montreal can be a catalyst for sustainable business growth.

Compliance and Regulatory Adherence

Staying compliant with tax regulations is not just a legal requirement but a strategic imperative. Corporate tax accountants in Montreal stay abreast of ever-evolving tax laws, ensuring that businesses adhere to reporting requirements, filing deadlines, and compliance standards. This proactive approach shields businesses from penalties and audits, fostering a stable and trustworthy financial environment.

Tailored Solutions for Diverse Industries

Montreal's economic landscape is diverse, encompassing industries such as technology, finance, manufacturing, and more. A competent corporate tax accountant recognizes the unique tax challenges each industry faces and tailors solutions accordingly. From R&D tax credits for tech startups to international tax planning for multinational corporations, these professionals offer bespoke strategies that align with industry-specific needs.

Leveraging Technology for Efficiency

In an era of digital transformation, corporate tax accountants harness cutting-edge technology to enhance efficiency and accuracy. Automated tax software, data analytics tools, and cloud-based solutions streamline tax processes, allowing businesses to focus on core operations. This integration of technology not only improves workflow but also ensures real-time insights for informed decision-making.

The Competitive Edge of Expertise

Partnering with a reputable corporate tax accountant in Montreal provides businesses with a competitive edge. Beyond compliance and tax optimization, these professionals offer invaluable financial advice, risk management strategies, and insights into market trends. This holistic approach empowers businesses to navigate challenges effectively and seize opportunities for long-term success.

Conclusion: Driving Financial Excellence

In conclusion, a corporate tax accountant in Montreal is more than a financial advisor; they are a strategic partner in driving financial excellence. By leveraging their expertise, businesses can unlock growth opportunities, mitigate risks, and achieve sustainable success in a dynamic economic landscape. Embracing the guidance of these professionals is a proactive step towards financial resilience and prosperity.

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A few lines in business news last week marked the emergence of a new powerhouse in Canada's forestry sector, as a company called Paper Excellence officially gobbled up Montreal-based Resolute Forest Products.

After 15 years of buying up Canadian pulp, paper, and lumber mills, Paper Excellence is now the largest paper mill in the country, with about 20 percent of all mill capacity—50 percent more than its closest rival, Canfor, according to data from pulp-market analysts TTOBMA.

But for such a major player, Paper Excellence is remarkably quiet about the inner workings of its business.

Who exactly runs the company? Who is Jackson Wijaya, the elusive founder and CEO, from whom it borrows billions of dollars to fund its acquisitions, and what does it plan to do with the nearly 22 million hectares of Canadian forest it now manages--an area four times the size of Nova Scotia?

The answers are hugely important for one of Canada's most iconic natural resources, its immense tracts of forest.

"Jackson Wijaya established Paper Excellence… with a dream to build a strong business in the pulp and paper industry in the Americas and Europe," the company said in a statement to CBC and five other media outlets last week, and is to create and develop a healthy and sustainable business."

But a months-long investigation by CBC News, in collaboration with Canadian and international media partners as part of a wider look at the global forestry industry by 40 media outlets under the umbrella of the Washington-based International Consortium of Investigative Journalists, has found that reality and rhetoric often don't align.

The people behind or associated with Paper Excellence appear to have a pattern of using thickets of corporations, including in tax havens, to effectively shield transactions and assets from public and government scrutiny.

The company won't open up about its past financing, some of which was facilitated by the China Development Bank, which is owned by the Chinese government.

CBC's investigation also found leaked records and insider accounts that show that Paper Excellence, at least until a few years ago, appeared to have been closely and secretly coordinating business and strategy decisions with Asia Pulp & Paper, one of the world's biggest pulp and paper players, which has a track record of environmental destruction.

"It's not normal for a company that has such a huge impact on such a vast area of forests, which goes to the heart of Canadian identity in so many ways… "A company with such impact wouldn't have transparency," said Shane Moffatt, head of the nature and food campaign with Greenpeace Canada.

Ask Greenpeace or any of a dozen environmental groups why they're concerned about Paper Excellence, and they link it immediately to a conglomerate called Sinar Mas. Owned and run by a billionaire Indonesian family of Chinese origin, the Wijayas family has interests in palm oil, real estate, financial services, and a controlling stake in Asia Pulp & Paper (APP).

Sinar Mas and its subsidiaries have been the target of environmental advocacy groups for years, with reports of tropical rainforest clearing, peatland destruction, and "extensive ties" to companies linked to fires and deforestation in Indonesia.

In 2007, APP lost its sustainability certification from the Forest Stewardship Council "because of substantial, publicly available information that APP was involved in destructive forestry practices," the FSC said. It has never regained it.

And that's where it gets tricky. Paper Excellence's official founder and CEO, Jackson Wijaya, is the grandson of the tycoon who created Sinar Mas in the 1960s and has held numerous positions with Sinar Mas, including as a director of an APP China holding company and offshore corporations set up in the tax haven of Barbados. 

In return, he's benefited from his family's wealth and financial connections.

The first Canadian mill acquired, in Meadow Lake, Sask., in 2007, operated under the Sinar Mas banner for several years; the mill's website said it had been purchased by an Indonesia-based company in 2008; Paper Excellence was incorporated in the Netherlands next year; it was still a fledgling company, yet it received a $17-million US loan at near-zero interest from family-owned Bank International Ningbo.

Now, 16 years later, Paper Excellence insists there are no ties between the two sides.

"Paper Excellence is owned solely by Jackson Wijaya and is completely independent of Asia Pulp & Paper," it said in a statement to the CBC and its media partners last week, "and has never been or is the ultimate owner or controller of any of the companies in Paper Excellence."

That air of independence is important to its business. Most of Paper Excellence's operations have some kind of FSC certification, which enables a pulp-and-paper company to command higher prices for its output and attract environmentally conscious brands, which are shown to be a branch of the disqualified APP Excellence and could put its certification at risk.

The company's claims of independence are also impossible to verify as a private corporation, and despite saying it's Canadian-based, its ownership chain actually traces through companies set up in the Netherlands, Malaysia, the Malaysian offshore jurisdiction of Labuan, and two shell companies in the British Virgin Islands.

CBC and its media partners, including Glacier Media in B.C., the Halifax Examiner, Radio France, and the French newspaper Le Monde, twice asked Paper Excellence to provide some kind of proof of who really owns its company; it did not.

Behind the scenes, though, there is evidence that Paper Excellence and Asia Pulp & Paper have worked cheek by-jowl on everything from regulatory submissions to supply and pricing, at least until a few years ago.

Emails and internal company documents first obtained by the Halifax Examiner show there was close cooperation between APP staff in China and Paper Excellence personnel over a relatively short period of time in the late 2010s; these are not necessarily indicative of either company's practices today.

In 2017, for instance, Paper Excellence's Vancouver-based sales executive Edwin Widjaja emailed a vice president at APP in China, asking for information on how much he should charge a potential client for a kind of wood pulp known as unbleached kraft, or UKP.

The reply came quickly, in the form of a directive now: "Don't sell any UKP to non-sister mills," the APP executive wrote first, while we decide in a couple of days on what to do for 2018, and please don't commit to any long-term contracts till we get our UKP study done." 

The next year, a sales executive for Paper Excellence's two mills in France had an email exchange with the same APP vice president in China, also about unbleached kraft, and asked for a monthly breakdown of how much one of the French mills was going to produce, so "we can plan ahead of time how to introduce this new pulp to our customers."

The exchanges blur the line between corporate entities that are supposedly independent, which is a red flag, according to Ottawa-based competition expert Keldon Bester.

"That kind of language is red meat for antitrust enforcers," he said to your competitors about quantity and distribution."

The leaked records were provided to the Halifax Examiner and later to CBC by a source who said that Paper Excellence's real nerve centre wasn't in Richmond, B.C., but in Shanghai, in the same offices as APP; in fact, at the time, Paper Excellence's entire back office, including the teams handling legal, accounting, finance, and market analysis, was run by APP, and there were no boundaries between staff working for one or the other company.

The source said, for example, that the sales manager for Paper Excellence's subsidiary in France attended strategy meetings at APP's Shanghai offices with other APP teams from Asia and Europe.

"It's extremely nebulous; you never know who's working for who," another former executive at that French subsidiary told CBC's reporting partner Le Monde, on condition of confidentiality because he still works in the industry.

But an employee who worked for APP for nearly a decade said that didn't reflect his experience, which was that APP and Paper Excellence were "pretty well siloed."

However, records show APP employees seem to have handled important Paper Excellence business outright with outside lawyers, and the in-house legal department stickhandled submissions to Chinese antitrust authorities when Paper Excellence wanted to buy the Eldorado pulp mill in south-central Brazil; ironically, the drafts even went so far as to list APP as a competitor of Paper Excellence.

Paper Excellence did not respond to our inquiries about the above allegations.

APP said any suggestion that its staff have worked on behalf of or alongside Paper Excellence is wrong and has not shared confidential information with Paper Excellence nor have its employees engaged in any work with Paper Excellence," the company said in response to questions from CBC and its media partners.

Bester said the Competition Bureau's process doesn't provide much opportunity for the public to know what a company did or didn't disclose.

"If the bureau has been misled or things have been omitted that are relevant to the competition analysis, the bureau would be extremely interested in knowing that for sure because we don't know what they were and were not provided with."

It takes billions of dollars to build a new, world-class pulp mill. Paper Excellence's expansion in Canada deliberately took a different tack. Its early acquisitions initially under the Sinar Mas banner, and later in its name were older, often shuttered or insolvent mills in B.C. and Saskatchewan.

But then there were costs for upgrades and repairs, and the company's ambitions grew.

By 2012, Paper Excellence sought big financing which came in the form of a credit of $1.25 billion US obtained from a Chinese government-owned bank.

CBC's investigation has revealed that the China Development Bank had mortgages with a debenture for that amount on three Canadian pulp mills owned by Paper Excellence starting in August 2012 as part of the security for financing that was repayable on demand.

Paper Excellence would not answer questions about how much of that credit it drew on, nor why it sought financing through a Chinese government-owned bank.

The loan was typical of many of the bank's investments at the time, said Rebecca Ray, a senior academic researcher at Boston University's Global Development Policy Center and China Development Bank.

"The kind of very large-scale financing that you were talking about in 2012 for raw commodity production, that comes as no surprise to me in that's the same kind of financing in those years that we see to major commodity producers around the world … as China is establishing the supply chains that it needs to support its new cities."

The discharge of the loan also corresponds to a time frame when the China Development Bank was pulling back from large loans to natural resource companies. This was in favour of the government's revised policy of smaller, more strategic lending, she said.

Throughout 2020, the mortgages on the Meadow Lake, Mackenzie, and Howe Sound mills were discharged and replaced with loans from two Indonesian government-owned banks, Bank Mandiri and Bank Negara Indonesia, which can now be repaid as needed.

The financing to Paper Excellence is the only time the China Development Bank or the Indonesian banks have registered any mortgages in British Columbia, the province's land records show.

The company didn't directly answer why it chose to finance in this way. "Paper Excellence constantly reviews market conditions and market circumstances in determining its financing strategies/options," the company said last week.

"To see that one of the biggest forestry players on Crown land in eastern Canada is an Indonesian giant, formerly financed by China, is not reassuring to us. We do not want to plunder our forests here in Quebec," said Daniel Cloutier, executive director of the Unifor local that represents unionized workers at Resolute and Domtar.

Lumber and forestry have long been of interest to China, and the China Development Bank often plays a key role in advancing the country's goals, says Margaret McCuaig-Johnston, a former top official in the federal government's Industry and Natural Resources departments, and an expert on China.

"It's often one of the first organizations in the door when China wants to enter a market and acquire resources in another country," McCuaig-Johnston said.

McCuaig-Johnston said companies owned by foreign interests with Chinese partners could decide to export their production to China and Indonesia.

"The reason Canadians should care is that we have seen in China's behaviour in other resource companies that they will often export all of the product to China for China's use," she said. "Canada needs its products from its natural resources and we need to be assured that we will have access to them."

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hi please tell me a fun fact about the black market smuggling of freon in the 1990s 🥰

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HELLO MY BELOVEDS!

In 1995, federal officials seized 4000 pounds of an illegal substance in a Miami port. The substance had a street value of $32 million. What substance do you think it was?

I asked this question to ~40 people today and yesterday, and all of them answered with some form of illicit drugs (most commonly cocaine). And, of course, all of them were astonished to learn that the substance in question was not drugs--it was freon.

Freon is a propellant and cooling agent that was commonly used in refrigerators, car air conditioners, aerosol sprays, some household cleaning solvents, etc. But in the 1960s, we learned that it was hella bad for the environment. Freon is the brand name of a CFC--chlorofluorocarbon--which is basically an arrangement of elements that just so happen to substantially contribute to the depletion of the ozone layer.

In 1987, the U.S. joined 139 other nations in signing the Montreal Protocol, in which the signing nations committed to reducing their CFC production by 50% by 1998; eventually, as the Antarctica ozone hole crisis increased attention on the issue of CFCs, the signing nations amended the Montreal Protocol to change the commitment to eliminating CFC production altogether by 1996.

In order to make progress towards this goal, Congress passed a freon tax in 1990. And, well, some Americans took this whole "new taxes? new regulations??" thing about as well as you'd expect.

Which brings us back to our opening scene--a 1995 freon bust, where a woman was arrested for smuggling $32 million worth of freon into the U.S. (Fun fact - this sting was called Operation Cool Breeze, lol.) The freon black market arose simply because it was cheaper to use freon than the more expensive synthetic alternatives. And this desire for cheaper coolants/propellants was so significant that in 1998, the Justice Department estimated that the value of South Florida's underground freon market was equal to that of the area's underground narcotics market. The Justice Department also estimated that about 20 million pounds of illegal freon were smuggled into the U.S. in 1996 alone. But relatively few busts, such as the one I opened with, were ever made, because the government's environmental enforcement agencies and mechanisms--as is true with many other regulatory enforcement mechanisms--was and is underfunded, under-resourced, etc.

The lesson here? A pretty simple one that we've heard a thousand times before - Greed leads private corporations to go to extremes to evade regulations. We need to fund/equip our agencies properly so that they actually have the power to hold corporations accountable to regulations that protect individuals (including indirectly through the environment).

Source: Environmental Politics and Policy: Fourth Edition by Walter A. Rosenbaum. 1998. ISBN 1-56802-335-9.