Income Tax Act The Canadian Income Tax Act (ITA) was enhanced to incorporate the Foreign Account Tax Compliance Act (FATCA) in 2014 and the Common Reporting Standard (CRS) in 2017. The ITA describes the due diligence and reporting obligations that arise by virtue of the implementation of ...
However, the significant amount of information flow between governments, under enforcement strategies such as Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS), means the likelihood of enquiry is increasing.Summary Any concerns should be met head-on as voluntary rectifi...
Exchange of InformationBEPSAllocation of IncomeTax TreatiesFATFFinancial Action Task ForceFATCACRSCommon Reporting Standardbeneficial ownerIn 2012, public opinion focussed on what has been called 'aggressive tax planning of multinational enterprises'. Since then, the G20 and OECD developed the Base ...
Income Tax Act The Canadian Income Tax Act (ITA) was enhanced to incorporate the Foreign Account Tax Compliance Act (FATCA) in 2014 and the Common Reporting Standard (CRS) in 2017. The ITA describes the due diligence and reporting obligations that arise by virtue of the implementation of ...
However, the significant amount of information flow between governments, under enforcement strategies such as Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS), means the likelihood of enquiry is increasing.Summary Any concerns should be met head-on as voluntary rectifi...