Actually, there’s no such thing, I just made it up.
So far, Canada and Ontario have given/invested/donated billions in terms of tax dollars into Stellantis.
Let them close up and go!
They have to leave behind their existing assets as:
- Partial repayment, and the balance to be paid by way of
- A Repatriation Tax.
If they want to sell vehicles in Canada, they will have to charge:
- The price of the vehicle,
- The Repatriation Tax in the amount of 25% of the sales price, and
- HST in the amount of 13% on top of everything.
At least, they will repatriate some of the money back to Canada and Ontario. When, and only when the full amount of all the moneys provided has been paid, will the repatriation tax be lifted.
Brian Madigan LL.B., Broker