11 July 2019 Tax implications of Canada Business Corporations Act changes discussed As of June 13, private corporations incorporated under the Canada Business Corporations Act (CBCA) are required to maintain a register of shareholders who, directly or indirectly, exercise "significant control" over a corporation. These amendments (Amendments) are expected to be followed by similar amendments to the counterpart legislation in the Canadian provinces and territories. The Amendments are intended to improve corporate transparency, a goal that the Canadian federal, provincial and territorial finance ministers committed to when they signed an Agreement to Strengthen Beneficial Ownership Transparency in 2017. Document ID: 2019-1237 |
