LOBLAW​ ​STATEMENT​ ​TO​ ​CBC​ ​/​ ​Radio-Canada/Toronto​ ​Star.
October​ ​24,​ ​2015​ ​(via​ ​email)
We​ ​are​ ​a​ ​considerable​ ​contributor​ ​to​ ​the​ ​national​ ​tax​ ​base​ ​and​ ​the​ ​CRA​ ​is​ ​aware​ ​of​ ​all​ ​of​ ​our
international​ ​income.​ ​Our​ ​activities​ ​in​ ​other​ ​jurisdictions​ ​are​ ​legal​ ​and​ ​transparent,​ ​and​ ​all
applicable​ ​taxes​ ​have​ ​been​ ​paid.
Thanks,
Kevin
Kevin​ ​Groh
Vice​ ​President
Corporate​ ​Affairs​ ​and​ ​Communication

ORIGINAL​ ​QUESTIONS​ ​(via​ ​email)
October​ ​19,​ ​2017
Subject:​ ​Loblaw​ ​offshore​ ​companies
Kevin,
CBC​ ​News/Radio​ ​Canada​ ​and​ ​the​ ​Toronto​ ​Star​ ​are​ ​preparing​ ​a​ ​number​ ​of​ ​upcoming​ ​news
stories​ ​related​ ​to​ ​the​ ​use​ ​of​ ​offshore​ ​tax​ ​structures​ ​by​ ​Canadian​ ​individuals​ ​and
corporations.
I’m​ ​writing​ ​to​ ​seek​ ​official​ ​comment​ ​from​ ​Loblaw​ ​about​ ​its​ ​offshore​ ​activities​ ​and​ ​that​ ​of​ ​its
various​ ​subsidiaries.
Specifically,​ ​we​ ​intend​ ​to​ ​report​ ​on​ ​Loblaw​ ​in​ ​2005​ ​registering​ ​two​ ​companies​ ​ ​-​ ​Loblaw
Financial​ ​Holdings​ ​Ltd.​ ​in​ ​Bermuda​ ​and​ ​GlenHuron​ ​Holdings​ ​Ltd.​ ​in​ ​Barbados,​ ​used​ ​to​ ​hold,
invest,​ ​and​ ​pay​ ​profits​ ​on​ ​tens​ ​of​ ​millions​ ​of​ ​dollars​ ​collected​ ​from​ ​holders​ ​of​ ​the​ ​President’s
Choice​ ​Financial​ ​MasterCard​ ​(cardholder​ ​balance​ ​protection​ ​insurance​ ​premiums).
We​ ​have​ ​the​ ​following​ ​questions:
1.​ ​ ​ ​ ​Why​ ​did​ ​Loblaw​ ​chose​ ​to​ ​set​ ​up​ ​these​ ​companies​ ​in​ ​tax​ ​haven​ ​countries
(Bermuda/Bahamas)​ ​as​ ​opposed​ ​to​ ​holding​ ​the​ ​funds​ ​in​ ​Canadian​ ​banks?
2.​ ​ ​ ​ ​Was​ ​the​ ​arrangement​ ​declared​ ​to​ ​Canadian​ ​tax​ ​authorities?
3.​ ​ ​ ​ ​Was​ ​the​ ​arrangement​ ​legal?

 4.​ ​ ​ ​ ​What​ ​taxes​ ​were​ ​paid​ ​on​ ​these​ ​companies’​ ​investment​ ​incomes​ ​-​ ​and​ ​where?
We’d​ ​appreciate​ ​a​ ​reply​ ​no​ ​later​ ​than​ ​NOON​ ​on​ ​Tuesday​ ​October​ ​24th.
Don’t​ ​hesitate​ ​to​ ​be​ ​in​ ​touch​ ​if​ ​you​ ​need​ ​any​ ​further​ ​clarification​ ​of​ ​our​ ​questions.
Please​ ​confirm​ ​you​ ​receive​ ​this.
Thanks,
Dave​ ​Seglins,​ ​CBC​ ​News