AGN Country Portals

Doing Business in Canada

Published in January 2018

Canada is a country in the north of North America. Its three territories and ten provinces run northwards to the Arctic Ocean and from the Pacific to the Atlantic Ocean. It has a land mass covering 9.98 million square kilometers (3.85 million square miles), making it the world's fourth-largest by land area and second-largest country by area.

Canada is urbanized with 82% of the 35.15 million people concentrated in large and medium-sized cities, many near the southern border. Its capital is Ottawa, and its largest metropolitan areas are Toronto, Montreal and Vancouver.

Canada's long and complex relationship with the United States has had a significant impact on its economy and culture, but its advanced economy is the tenth-largest in the world, relying chiefly upon its natural resources and well-developed international trade networks.

Queen Elizabeth II is Canada's Head of State in this constitutional monarchy and federal parliamentary democracy. The country has two languages at a federal level – French and English. It is one of the world's most ethnically diverse and multicultural nations, the product of large-scale immigration from many other countries.

Canada is a realm within the Commonwealth of Nations, a member of the Francophonie and part of several major international and intergovernmental institutions or groupings including the United Nations, the North Atlantic Treaty Organization, the G7 (formerly G8), the Group of Ten, the G20, the North American Free Trade Agreement and the Asia-Pacific Economic Cooperation forum.

Canada ranks among the highest in international measurements of government transparency, civil liberties, quality of life, economic freedom and education. As a developed country, Canada has the fifteenth-highest nominal per capita income globally as well as the tenth-highest ranking in the Human Development Index.

Many companies from Europe and commonwealth countries that have expanded to North America have found utilizing Canada as a starting point offers many advantages. Doing business in Canada is similar to these countries in areas such as business law and tax. For example, Canada has a VAT system similar to many European countries. Further, employees that relocate to Canada find a very good quality of life as evidenced in many indexes measuring this fact. Proximity to the US, with the majority of our population near the US border allows for expansion to the US from an established base in Canada.

For the most up-to-date statistics, this portal incorporates various live data feeds from:

  • The Organisation for Economic Cooperation and Development (OECD)
  • The World Bank
  • The observatory of Economic Complexity

 

 

Use the navigations buttons below to access to more live data:
Inflation, Development indicators, Exports, Trade Balance, and more.

OECD Country Comparison Portal

The window below is a direct feed of regularly updated information from the OECD. It provides data concerning everything from GDP growth, fiscal balance, investment, and unemployment rates to consumption, import volume and export volume. The window allows comparisons between Canada and other countries of the OECD average for these factors.

Inflation (CPI)

Total, Annual growth rate (%)

World Bank Development Indicators

The window below is a feed from the World Bank website and shows the primary World Bank collection of development indicators, compiled from officially-recognized international sources. It presents the most current and accurate Canadian and global development data available, and includes national, regional and global estimates. Amongst others it covers critical areas of Agriculture & Rural Development, Climate Change, Economy & Growth, Education, Energy & Mining, Environment, External Debt, Health, Infrastructure and Labor & Social Protection

Exports

This graph is taken from The Observatory of Economic Complexity (OEC). Products, represented by rectangles, are drawn from the 775 individual product classes found in the Standardized International Trade Code.

This graph shows volumes of goods exported from Canada.

Imports

This graph is taken from The Observatory of Economic Complexity (OEC). Products, represented by rectangles, are drawn from the 775 individual product classes found in the Standardized International Trade Code.

This graph shows volumes of goods imported into Canada.

Trade Balance

This graph is taken from The Observatory of Economic Complexity (OEC).

This graph illustrates the subsequent trade balance of exports and imports to and from Canada.

Destinations

This graph is taken from The Observatory of Economic Complexity (OEC).

This graph shows the destinations of goods and services by country.

 

Business Opportunities:

EU-UK Trade and Cooperation Agreement (TCA) 
UK VAT Requirements
(January 2021) 

Technical Alert: EU-UK Trade and Cooperation Agreement (TCA), UK VAT Requirements

An update to earlier 'Post Brexit UK VAT Requirements 

On 1 January 2021, the UK formally left the EU after the end of its transition period. A new “Trade and Cooperation Agreement” was reached in principle between the UK and EU on 24 December 2020. The deal will cover the future UK-EU relationship, with the two parties having now implemented the agreement.

What impact does this have on the previously foreseen changes from a VAT & Customs perspective?
For more information, contact with the author of the Technical Alert: 

Chiene + Tait LLP VAT Support
Iain Masterton
Indirect Tax Director
+44 131 558 5800
Iain.masterton@chiene.co.uk
Connect with AGN UK Firms. AGN International has an expansive and diverse list of AGN firms in the UK.

OPPORTUNITIES TO SELL TO CHINA! DESPITE COVID, MASSIVE SHANGHAI EXPO SHOWS LUCRATIVE MARKETS ARE OPEN TO FOREIGN COMPANIES 
     (October 2020)

Potential for lucrative Chinese markets still very much present for businesses who may be otherwise suffering during the pandemic.

The upcoming Chinese International Import Expo (CIIE) in Shanghai illustrates how the Chinese are intent to move on from the impact of Covid 19.
 

GDP is up and the Chinese economy has effectively bounced back. Robust pandemic safety measures mean the import expo comprised of 1,400 foreign exhibitors will open its doors to buyers hungry for Western goods and services on 5 November. CIIE is likely to be one of the very few major commercial exhibitions not to have been cancelled in 2020.  

Foreign direct investment (FDI) into the Chinese mainland, in actual use, grew 18.7 percent year on year to 84.13 billion yuan in August. This marked the fifth consecutive month for the country to witness positive growth in FDI.


If you want to know what to export into China and for further information and take action, please contact us.

Find the AGN Firm best prepared to serve you


BIG TAX INCENTIVES TO LIVE, WORK AND INVEST IN ITALY! 
     (February 2020) 

The Italian Government has introduced measures intended to encourage workers and entrepreneurs to move to, and invest in, Italy:
  • HIGH NET WORTH INDIVIDUALS – 100K€ LUMP SUM TAX 
  • SPECIAL TAX REGIME FOR WORKERS AND (INDIVIDUAL) ENTREPRENEURS TRANSFERRING THEIR RESIDENCE TO ITALY
  • 7% FLAT TAX FOR FOREIGN PENSIONERS TRANSFERRING THEIR RESIDENCE TO ITALY

For further information and take action, please contact us.

Find the AGN Firm best prepared to serve you


AGN News in the region:

September 2021
AGN NA member firm Hungerford Nichols Announces Two New Shareholders

 


Hungerford Nichols CPAs and Advisors announces the election of two new shareholders. Tessa Keena and Steven Triezenberg bring experience, keen leadership and a shared vision to the existing shareholder group. 

The firm continues to grow due to its constant focus on preparing its next generation of leaders for the future.
 
Read the Press Release
September 2021

Making Sense of Cryptocurrencies: Part #5


AGN Global Business Voice: Business Alert

Welcome to the final part of this GBV series seeking to demystify the world of the cryptocurrency – valuable fiscal tool or fantasy investment vehicle with no intrinsic value?  Since we conceived of this series a few months back, the market value of Bitcoin, the leading cryptocurrency had hit the heights of U$60,000 per coin, then halved to just over U$30,000 and is now gradually rising again –approaching the U$46,000 mark on 9 August 2021. Volatility is the hallmark of cryptocurrencies.

In this article we explore some of the views of the professionals within our own member firms.  It turns out that cryptocurrency experts are a pretty rare beast – although we suspect this is more to do with a reluctance to step into the spotlight on the topic rather than depth of capability.

Access the publication

AGN Firms in the country


Canada
Adams & Miles LLP
195 County Court Blvd.
Suite 200
Brampton ON L6W 4P7
Time Zone: GMT -5
Phone: +1(416) 502-2201
EMail: solutions@adamsmiles.com
Adams & Miles LLP
2550 Victoria Park Ave Ste 501
Toronto ON M2J 5A9
Time Zone: GMT -5
Phone: (+1 416) 502 2201
EMail: solution@adamsmiles.com
Dougan Irwin & Associates
2nd Floor, Long Lake Plaza
#3 - 4890 Rutherford Road
Nanaimo BC V9T 4Z4
Time Zone: GMT-8
Phone: (+1 250) 754 1291
EMail: don@douganirwin.ca
Contact Partner: Donald L. Irwin
EPR Maple Ridge Langley, Chartered Professional Accountants
21542 48 Avenue
Langley BC V3A 3M5
Time Zone:
Phone: (+1 604) 534 1441
EMail:
EPR Maple Ridge Langley, Chartered Professional Accountants
22377 Dewdney Trunk Rd
Head Office
Maple Ridge BC V2X 3J4
Time Zone: PST
Phone: +1-604-467-5561
EMail: info@eprcpa.ca
EPR Rieger Bray Hohl
40 Centre Street
Suite 100
Chatham ON N7M 5W3
Time Zone: GMT -5
Phone: (+1 519) 436 0556
EMail: sandra@eprchatham.com
Contact Partner: Sandra Hohl
EPR Rieger Bray Hohl Licensed Public Accountants
40 Queen Street
Suite 100
Tilbury ON N0P 2L0
Time Zone:
Phone: (+1 519) 682 2300
EMail:
EPR Yellowknife
P.O. Box 20072
Unit 410, 4921 - 49th Street
Yellowknife NWT X1A 3X8
Time Zone: GMT - 7
Phone: (+1 867) 669 0242
EMail: biswanath@epryellowknife.ca
Logan Katz LLP
105 - 6 Gurdwara Road
Ottawa ON K2E 8A3
Time Zone: GMT -5
Phone: (+1 613) 228 8282
EMail: kbourgeois@logankatz.com
Meaden & Moore, LLP
717 7th Avenue S.W.
Suite 610
Calgary AB T2P 0Z3
Time Zone: GMT -7
Phone: (+1 403) 299 0560
EMail: meadenmoore@meadenmoore.com
Meaden & Moore, LLP
1440 St-Catherine West
Suitew 710
Montreal QC H3G 1R8
Time Zone: GMT -5
Phone: (+1 514) 866 5431
EMail: meadenmoore@meadenmoore.com
Meaden & Moore, LLP
40 University Ave
Suite 700
Toronto ON M5J1T1
Time Zone: GMT - 5
Phone: (+1 416) 596 1000
EMail: meadenmoore@meadenmoore.com
Meaden & Moore, LLP
1096 W. Pender Street
Suite 301
Vancouver BC V6E 2M6
Time Zone: GMT -8
Phone: (+1 604) 683 5877
EMail: meadenmoore@meadenmoore.com
Rolfe, Benson LLP
1500-1090 West Georgia Street
Vancouver BC V6E 3V7
Time Zone: GMT -8
Phone: (+1 604) 684 1101
EMail: admin@rolfebenson.com
Rumley Holmes LLP
301 Bryne Drive
Barrie ON L4N 8V4
Time Zone:
Phone: (+1 705) 722 4272
EMail: dholmes@rhpartners.ca
Contact Partner: David Holmes