Media Coverage of Revera Report: Tax Dodging by a Canadian Crown Corporation

Revera, a private corporation, is the second largest care home operator in Canada. An in-depth analysis of Revera’s UK care homes indicates a pattern of aggressive corporate tax avoidance and may provide insights into Revera’s corporate conduct and culture in Canada, where limited information is publicly available.

Revera is directly owned by the Public Sector Pension Investment Board (PSP), a Canadian Crown corporation and one of Canada’s largest public sector pension funds. Excessive and preventable COVID-19 deaths at Revera’s Canadian facilities, apparent aggressive tax avoidance strategies in the UK, and lack of transparency, all raise serious doubts about PSP’s claims to be a responsible investor.

Jason Ward responds to PSP Investments’ claim on Revera’s immunity from paying taxes in the UK in the Huffington Post

The Huffington Post reports on Revera Inc., the long-term care home company owned by the Canadian Public Sector Pension (PSP) Investment Board that has seen hundreds of resident deaths during the pandemic, appears to shift taxable profits out of the United Kingdom into subsidiaries in countries with more favourable tax laws. Read the full article here.

“What we found [on] Revera’s operations in the U.K. was deeply troubling,” report author Jason Ward told HuffPost Canada. “It appears they’ve set up structures there to avoid tax on significant profits that they make on the U.K. care-home business that they’re invested in.”

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