It's an exit taxes, but as far as I'm aware, it simply taxes you on all assets as if you disposed of them the day you leave.

That doesn't seem particularly unfair. If you can image a scenario where someone buy Apple at $1, and it's now worth $1,000. They just leave Canada, pay no tax, then sell in a low tax jurisdiction.

However, it can be a massive pain in the ass for illiquid assets or assets you don't intend to sell at that point in time. A good example might be a pension. Getting hit with a tens of thousand dollar tax bill for a pension you won't receive for another 2 decades is painful.

> as far as I'm aware, it simply taxes you on all assets as if you disposed of them the day you leave.

That is also what Germany does. The 13.75 multiplier is the fallback number used if there is no valuation for the company. It's such an irrelevant number that tax advisers writing about the topic don't even bring it up. Get a valuation.

> it simply taxes you on all assets as if you disposed of them the day you leave.

Same thing in the U.S. but I think the first $800 or so is exempt.