February 17, 2022
Canada's Department of Finance releases proposed measures regarding avoidance of tax debts and audit authorities
The Department of Finance on February 4, released draft legislation to amend the Income Tax Act (ITA) and the Excise Tax Act to reflect certain measures announced in the Canada 2021 federal budget, although some significant measures, such as changes to the Canadian transfer pricing regime and modernization of the general anti-avoidance rule, were not addressed. Interested parties are invited to provide comments on the proposed amendments by various dates.
A Tax Alert prepared by Ernst & Young Canada, and attached below, provides additional details.
Full text of Tax Alert