Ottawa\u0027s tax plan is expected to increase federal revenues by $2.1 billion over five years. Read more.
Moreover, Koskinen said that if Canada matches the one per cent buyback tax in the United States, it would be unlikely to change the calculus for energy companies that are unlikely to profit from transition investments in the short term.
Koskinen said he thinks there should be accelerated investments in energy transition to address the risks of business as usual, but he said there are probably better ways than a new tax.Article content Canadian energy investors recoiled from news of a potential tax on stock buybacks Thursday before the details were released.
While the impact of the measure will depend on the size of the tax, most energy investors reacting to the news Thursday were skeptical a tax on buybacks would trigger more spending from companies on operations and workers. Rather, most energy firms enjoying sizeable free cash flow will simply prioritize dividends, said Eric Nuttal, partner and portfolio manager at Ninepoint Partners LP.
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