The Globe and Mail reports in its Thursday, July 24, edition that tax havens allow Canada's ultrarich and corporations to evade their fair share of taxes and are widely disliked. The Globe's guest columnists Jared Walker and Silas Xuereb write that despite years of public discourse and new legislation, the use of tax havens in corporate Canada continues to worsen. A new report from Canadians for Tax Fairness reveals that Canada's largest corporations and wealthiest families hold over $682-billion in tax havens, a 165-per-cent increase in the last decade. This situation arises from laws and lawmakers not only failing to curb tax abuse but actively encouraging it. The misuse of tax havens is widespread, affecting more than three-quarters of the companies in the S&P/TSX 60, including all of Canada's Big Five banks, major insurers, tech firms and energy companies. In corporate Canada, using tax havens is the norm, not the exception. This situation is unfair. The ultrawealthy and large corporations often shift their assets to low-tax areas to avoid paying taxes, leaving the rest of us to bear the burden. The Tax Justice Network estimates that tax abuse costs Canada about $15-billion in lost revenue annually.