11. Believes that fundamental corporate governance principles of transparency and accountability will contribute to a strong and stable economy by reducing market volatility and increasing trust in businesses; calls for public, country-by-country reporting on large enterprises in all sectors to increase transparency regarding their activities, in particular regarding profits made, taxes on profit paid and subsidies received; believes that mandatory reporting in this area is an important element of the corporate responsibility of companies to shareholders and society;

48. Welcomes the progress made on country-by-country reporting under the Accounting and Transparency Directives; calls on the Commission to introduce, as the next step, country-by-country reporting for cross-border companies in all sectors, enhancing the transparency of payments transactions – by requiring disclosure of information such as the nature of the company’s activities and its geographical location, turn-over, number of employees on a full-time equivalent basis, profit or loss before tax, tax on profit or loss, and public subsidies received on a country-by-country basis on the trading of a group as a whole – in order to monitor ...[+++] respect for proper transfer pricing rules;

Most governments at every level support charities which may be universities, hospitals or CIDA charities associated with foreign affairs or charities associated with Heritage Canada or Health Canada (1540) Unfortunately because the 80 per cent rule applies only to tax receiptable donations, it does not apply to grants from government or funds raised by other means, for instance, bingos.

I guess that Senator Bellemare's question and your answers in regard to the affinity card giving you back what you call the donation, for which I suspect they would get a tax receipt for what they call a donation and what for consumers is called a cashback.

I don't know, honestly, whether we provide the bank with a tax receipt or not, or if it's a straight donation.

It's a much better option for those credit card companies to donate those dollars or give us those dollars based on a sponsorship, because then they get to write off 100 per cent of that donation, whereas a donation with a taxable receipt may not.