On November 30, 2012, during the strategy forum on the city’s competitiveness and the creation of a competitive business environment in Montréal, Emilio Imbriglio, Leader of the Corporate Finance Group in the Montréal office and the Firm’s Chairman of the Board, was invited to participate in a panel about the effects and spinoffs of headquarters located in Montréal from the perspective of service enterprises.
Alongside Andrew Molson, Chairman of the Board of RES PUBLICA, Éric Bédard, Managing Partner at Fasken Martineau, and Martin Gauthier, President of Sid Lee Montréal, Emilio recalled Raymond Chabot Grant Thornton’s commitment to the city, as its headquarters are located here and the Firm collaborates extensively with Montréal-based service enterprises.
Emilio also pointed out actions that should be taken to improve the competitiveness of the local business environment.
“It’s important to keep in mind that we are competing with other provinces and countries to attract headquarters, so it’s necessary to be recognized as a quality host location. Transparency and political stability are important in terms of a country’s attractiveness vis-à-vis international competition […]. We must provide a favourable environment that will sustain the continuity of businesses while maintaining local control. Our Firm has already asked the governments of Quebec and Canada to amend a tax provision in support of domestic business sustainability. It should be understood that, currently, it’s more beneficial tax-wise, to sell one’s business to unrelated parties than to family members. Changes are necessary […].Political, legal, fiscal and banking stability are key to attracting headquarters. Quebec should bank on fiscal competitiveness as a motivator for entities to set up their headquarters and stay here. This requires a favourable and competitive business environment. Quebec would benefit from being perceived as the Switzerland of North America”, remarked Emilio.