Between 24 and 29 per cent of corporate income tax owed was not paid, according to a report from the Canada Revenue Agency (CRA). This is the fourth report released by the CRA on the tax gap—the difference between what is owed and what the government collects—since the Liberals took power in 2015. In total, the agency estimates that tax evasion costs Canada between $21.8 billion and $26 billion every year. The current government has spent about $1 billion in attempts to reclaim unpaid taxes, with a particular focus on large companies. (The Logic)

Talking point: Actually collecting all that outstanding money is difficult. For example, CRA audits, the amount of tax owed in 2014 falls to between $3.3 billion to $5.3 billion, but companies can contest those audit results, so the total amount of money collected by the government may be lower. Multinationals operating in Canada can also legally reduce the amount of money they need to pay by routing profits through other jurisdictions. That practice could change soon, though. Earlier this month, the G20 finance ministers agreed to come up with new rules to close loopholes used by Big Tech companies to reduce their tax bills.