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April 5, 2021

Quebec releases list of transactions for mandatory disclosure

The first installment of the long-awaited list of transactions for which mandatory disclosure is required in Quebec under Quebec Bill 42, An Act to give effect to fiscal measures announced in the Budget Speech delivered on March 21, 2019 and to various other measures, was released in the Quebec Gazette on March 17, 2021. Quebec Bill 42, which received Royal Assent on September 24, 2020, contains measures first announced in the March 21, 2019 Quebec Budget and further detailed by the Ministère des Finances in Information Bulletin 2019-5 released on May 17, 2019, relating to new mandatory disclosure requirements, including new requirements to disclose transactions identified by the Minister of Revenue or any significantly similar transactions.

A Tax Alert prepared by Ernst & Young Canada, and attached below, provides additional details.


Full text of Tax Alert