taxnews.ey.comPrint

04 March 2022

Canada imposes new sanctions on Russia, ceases issuance of export permits for exports of goods to Russia

The Government of Canada on February 24 announced the imposition of additional sanctions under the Special Economic Measures (Russia) Regulations and the Special Economic Measures (Ukraine) Regulations, in response to ongoing situation in Ukraine. In addition, exports to Russia are restricted by halting new export permit applications and cancelling valid existing export permits, with certain exceptions.

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

———————————————
ATTACHMENT

Full text of Tax Alert

Document ID: 2022-0365

 

The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting or tax advice or opinion provided by Ernst & Young LLP to the reader. The reader also is cautioned that this material may not be applicable to, or suitable for, the reader's specific circumstances or needs, and may require consideration of non-tax and other tax factors if any action is to be contemplated. The reader should contact his or her Ernst & Young LLP or other tax professional prior to taking any action based upon this information. Ernst & Young LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.

 

Copyright © 1996 – 2025, Ernst & Young LLP

 

All rights reserved. No part of this document may be reproduced, retransmitted or otherwise redistributed in any form or by any means, electronic or mechanical, including by photocopying, facsimile transmission, recording, rekeying, or using any information storage and retrieval system, without written permission from Ernst & Young LLP.

 

EY US Tax News Update Master Agreement | EY Privacy Statement