[Verse 1] When Atlas Corp sends dividends north of the line Three layers of tax will take what was mine Corporate tax first on profits they made Withholding tax second when dividends are paid Then Canada taxes what's left in my hand Triple taxation across this great land [Chorus] Three layers deep, the tax burden grows C-corp to Canadian, that's how it goes Surplus pools track what's already been taxed Foreign tax credits keep us on track Atlas reporting, both sides demand Cross-border compliance, understand [Verse 2] Surplus pools capture the corporate tax paid Exempt surplus, taxable, categories are made When dividends flow from these accumulated funds Canadian tax adjusts for what's already done If corporate rate was twenty-one percent Less Canadian tax on income that's sent [Chorus] Three layers deep, the tax burden grows C-corp to Canadian, that's how it goes Surplus pools track what's already been taxed Foreign tax credits keep us on track Atlas reporting, both sides demand Cross-border compliance, understand [Bridge] CCPC profits get small business rate Fifteen percent or so, much better fate C-corp effective rate climbs way up high Forty-six percent will make you cry Integration's broken when borders are crossed Without proper planning, efficiency's lost [Verse 3] Atlas must file in both jurisdictions true Eleven-twenty in the US, T-two T-one-one-three-four for foreign affiliates Form eight-eight-five-eight when ownership hits Twenty-five percent of voting control Reporting requirements take their toll [Chorus] Three layers deep, the tax burden grows C-corp to Canadian, that's how it goes Surplus pools track what's already been taxed Foreign tax credits keep us on track Atlas reporting, both sides demand Cross-border compliance, understand [Outro] From corporate tax to withholding's bite Canadian personal tax completes the fight Three layers deep but pools provide relief Cross-border planning brings tax belief
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