If Mitt Romney Were Canadian, He Would Pay Even Less Tax

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ROMNEY LESS TAX CANADA
If Romney were filing Canadian taxes, we estimate he would have paid even less. | AP

But if Romney were filing Canadian taxes, we estimate he would have paid even less, even though Canada’s tax rates are generally considered to be substantially higher than the U.S. Running the U.S. numbers on a Canadian return, assuming no foreign currency adjustment and assuming his dividends would be Canadian dividends had he lived in Canada, Romney would have paid $2,973,021 of Canadian federal tax in 2011 on his $20.9-million of income, which translates to an effective federal tax rate of only 14.2%, more than a percentage off the 15.4% he is forecast to pay.

Read the whole story at Financial Post