Report: January 7th is Corporate Income Tax Freedom Day 2022 | Canadians for Tax Fairness

Introduction At 12:33am on January 7, Canadian corporations collected the last dollar needed to pay their annual corporate income tax bill.[ii] Since 2010, Corporate Income Tax Freedom has arrived, on average, by 2:19am on January 7. However, the time has been trending earlier and earlier with corporations keeping an additional half hour or so of revenue each year. This trend is a direct result of falling corporate income tax rates and widespread use of tax loopholes, tax havens, and aggressive corporate accounting.