List of published territories Albania$$$Algeria$$$Angola$$$Argentina$$$Armenia$$$Australia$$$Austria$$$Azerbaijan$$$Bahrain$$$Barbados$$$Belarus$$$Belgium$$$Bermuda$$$Bolivia$$$Bosnia and Herzegovina$$$Botswana$$$Brazil$$$Bulgaria$$$Cabo Verde$$$Cambodia$$$Cameroon, Republic of$$$Canada$$$Cayman Islands$$$Chad$$$Chile$$$China, People's Republic of$$$Colombia$$$Congo, Democratic Republic of the$$$Congo, Republic of$$$Costa Rica$$$Croatia$$$Cyprus$$$Czech Republic$$$Denmark$$$Dominican Republic$$$Ecuador$$$Egypt$$$El Salvador$$$Equatorial Guinea$$$Estonia$$$Fiji$$$Finland$$$France$$$Gabon$$$Georgia$$$Germany$$$Ghana$$$Gibraltar$$$Greece$$$Greenland$$$Guatemala$$$Guernsey, Channel Islands$$$Guyana$$$Honduras$$$Hong Kong$$$Hungary$$$Iceland$$$India$$$Indonesia$$$Iraq$$$Ireland$$$Isle of Man$$$Israel$$$Italy$$$Ivory Coast (Côte d'Ivoire)$$$Jamaica$$$Japan$$$Jersey, Channel Islands$$$Jordan$$$Kazakhstan$$$Kenya$$$Korea, Republic of$$$Kosovo$$$Kuwait$$$Kyrgyzstan$$$Lao PDR$$$Latvia$$$Lebanon$$$Libya$$$Liechtenstein$$$Lithuania$$$Luxembourg$$$Macau$$$Macedonia$$$Madagascar$$$Malawi$$$Malaysia$$$Malta$$$Mauritius$$$Mexico$$$Moldova$$$Mongolia$$$Montenegro$$$Morocco$$$Mozambique$$$Myanmar$$$Namibia, Republic of$$$Netherlands$$$New Zealand$$$Nicaragua$$$Nigeria$$$Norway$$$Oman$$$Pakistan$$$Palestinian territories$$$Panama$$$Papua New Guinea$$$Paraguay$$$Peru$$$Philippines$$$Poland$$$Portugal$$$Puerto Rico$$$Qatar$$$Romania$$$Russian Federation$$$Rwanda$$$Saint Lucia$$$Saudi Arabia$$$Senegal$$$Serbia$$$Singapore$$$Slovak Republic$$$Slovenia$$$South Africa$$$Spain$$$Sri Lanka$$$Swaziland$$$Sweden$$$Switzerland$$$Taiwan$$$Tajikistan$$$Tanzania$$$Thailand$$$Timor-Leste$$$Trinidad and Tobago$$$Tunisia$$$Turkey$$$Turkmenistan$$$Turks and Caicos Islands$$$Uganda$$$Ukraine$$$United Arab Emirates$$$United Kingdom$$$United States$$$Uruguay$$$Uzbekistan, Republic of$$$Venezuela$$$Vietnam$$$Zambia$$$Zimbabwe JDCN-89JRLJ$$$JDCN-9L9ER3$$$JDCN-89HREB$$$JDCN-89HRGN$$$JDCN-89HRHB$$$JDCN-89HRJM$$$JDCN-89HRKA$$$JDCN-89HRKX$$$JDCN-89HRLL$$$JDCN-89HRM9$$$JDCN-89HRMW$$$JDCN-89HRNK$$$JDCN-89HRP8$$$JDCN-89HRPV$$$JDCN-89HRQJ$$$JDCN-89HRR7$$$JDCN-89HRRU$$$JDCN-89HRSH$$$JDCN-89HRV5$$$JDCN-89HRT6$$$JDCN-89HRTT$$$JDCN-89HRUG$$$JDCN-89HRVS$$$JDCN-89HRWF$$$JDCN-89HRYE$$$JDCN-89HRZ3$$$JDCN-89HRZQ$$$JDCN-89HS2D$$$JDCN-89HS32$$$JDCN-89HS3P$$$JDCN-89PKJ7$$$JDCN-89HS5N$$$JDCN-89HS6B$$$JDCN-89HS6Y$$$JDCN-89HS7M$$$JDCN-89HS8A$$$JDCN-89HS8X$$$JDCN-89HS9L$$$JDCN-89HSA9$$$JDCN-89HSAW$$$JDCN-89HSBK$$$JDCN-89HSC8$$$JDCN-89HSCV$$$JDCN-89HSDJ$$$JDCN-89HSE7$$$JDCN-89HSEU$$$JDCN-89HSFH$$$JDCN-89HSG6$$$JDCN-89HSGT$$$JDCN-9LFTHK$$$JDCN-89HSHG$$$JDCN-89HRX4$$$JDCN-8UENHH$$$JDCN-89HSJ5$$$JDCN-89HSJS$$$JDCN-89HSKF$$$JDCN-8HLNAZ$$$JDCN-89HSL4$$$JDCN-89HSLR$$$JDCN-89HSME$$$JDCN-89HSN3$$$JDCN-89HSNQ$$$JDCN-89HSPD$$$JDCN-89HSQ2$$$JDCN-89HSQP$$$JDCN-89HSRC$$$JDCN-89HSRZ$$$JDCN-89HRXR$$$JDCN-89HSSN$$$JDCN-89HSTB$$$JDCN-89HSTY$$$JDCN-89HSUM$$$JDCN-AN9ENE$$$JDCN-89HSVA$$$JDCN-89HSVX$$$JDCN-8EGQEM$$$JDCN-89HSWL$$$JDCN-89HSX9$$$JDCN-89HSXW$$$JDCN-89HSYK$$$JDCN-89HSZ8$$$JDCN-89HSZV$$$JDCN-89HT2J$$$JDCN-89HT38$$$JDCN-89HT3V$$$JDCN-89HT4J$$$UKWE-8CEb2F$$$JDCN-89HT5U$$$JDCN-89HT6H$$$JDCN-89HT77$$$JDCN-89HT7U$$$JDCN-89HT8H$$$JDCN-89HT96$$$JDCN-8HLRL5$$$JDCN-89HT9T$$$JDCN-97XLRC$$$JDCN-89HTAG$$$JDCN-89HTB5$$$JDCN-89HTCF$$$JDCN-89HTD4$$$JDCN-89HTDR$$$JDCN-89HTEE$$$JDCN-89HTF3$$$JDCN-89HTFR$$$JDCN-BECD9B$$$JDCN-89HTGE$$$JDCN-89HTH3$$$JDCN-89HTHQ$$$JDCN-89HTJD$$$JDCN-89HTK2$$$JDCN-89HTKP$$$JDCN-89HTLC$$$JDCN-89HTLZ$$$JDCN-89HTMN$$$JDCN-89HTNB$$$JDCN-89HTNY$$$JDCN-8UPFL5$$$JDCN-89HTW7$$$JDCN-89HTPM$$$JDCN-89HTQA$$$JDCN-89HTQX$$$JDCN-89HTRL$$$JDCN-89HTS9$$$JDCN-89HTSW$$$JDCN-89HTTK$$$UKWE-8CDMS7$$$JDCN-89HTUV$$$JDCN-89HTWU$$$JDCN-89HTXH$$$JDCN-89HTY6$$$JDCN-89HTZG$$$JDCN-89HU25$$$JDCN-89HU2S$$$JDCN-89HU3F$$$JDCN-8VDJC3$$$JDCN-89HU44$$$JDCN-8V8FQH$$$JDCN-89HU4R$$$JDCN-89HU5E$$$JDCN-B82GFQ$$$JDCN-89HU63$$$JDCN-89HU6Q$$$JDCN-89HU7D$$$JDCN-89HU82$$$JDCN-89HU8P$$$JDCN-89HU9C$$$JDCN-89HU9Z$$$JDCN-89HUAN$$$JDCN-89HUBB$$$JDCN-9LFTHP$$$JDCN-89HUBY Herzegovina$$$Cape Verde$$$Republic of Cameroon$$$People's Republic of China$$$Peoples Republic of China$$$Democratic Republic of the Congo$$$DRC$$$Republic of Congo$$$Channel Islands$$$Channel Islands$$$South Korea$$$Republic of Korea$$$Laos$$$Republic of Lebanon$$$The Netherlands$$$PNG$$$Russia$$$St. Lucia$$$St Lucia$$$Slovakia$$$SA$$$Tobago$$$Republic of Turkey$$$Turks$$$Caicos$$$UAE$$$Great Britain$$$UK$$$Britain$$$Whales$$$Northern Ireland$$$England$$$US$$$U.S.$$$U.S.A.$$$USA$$$Republic of Uruguay$$$Republic of Uzbekistan$$$Republic of Zambia

Canada Corporate - Tax administration

Choose a topic
Canada Map
Country
See full territory list
Close topic

Taxable period

The tax year of a corporation, which is normally the fiscal period it has adopted for accounting purposes, cannot exceed 53 weeks. The tax year need not be the calendar year. Once selected, the tax year cannot be changed without approval from the tax authorities.

Tax returns

Both the federal and the provincial/territorial corporation tax systems operate on an essentially self-assessing basis. All corporations must file federal income tax returns. Alberta and Quebec tax returns must also be filed by corporations that have PEs in those provinces, regardless of whether any tax is payable. Corporations with PEs in other provinces that levy capital tax must also file capital tax returns. Tax returns must be filed within six months of the corporation's tax year-end. No extensions are available.

Certain corporations with annual gross revenues exceeding CAD 1 million are required to electronically file (e-file) their federal CIT returns via the Internet. Also, information return filers that submit more than 50 information returns annually must e-file via the Internet. Penalties are assessed for failure to e-file.

Payment of tax

Corporate tax instalments are generally due on the last day of each month (although some CCPCs can remit quarterly instalments if certain conditions are met). Any balance payable is generally due on the last day of the second month following the end of the tax year.

Functional currency

The amount of income, taxable income, and taxes payable by a taxpayer is determined in Canadian dollars. However, certain corporations resident in Canada can elect to determine their Canadian tax amounts in the corporation's 'functional currency'.

Tax audit process

The tax authorities are required to issue an assessment notice within a reasonable time following the filing of a tax return. These original assessments usually are based on a limited review, if any, of the corporation's income tax return. However, the notice of assessment will identify any changes made (e.g. correcting discrepancies on any balances carried forward).

Traditionally, all corporations with gross income over CAD 250 million, and their affiliates, are assigned a large case file team and undergo an annual risk assessment. Corporations rated as high risk are generally audited annually. Medium-sized corporations (gross income between CAD 20 million and CAD 250 million) generally are selected based on a screening process and identified risks. Smaller corporations, which are usually CCPCs with gross income under CAD 20 million, have been subject to compliance or restricted audits, selected based on statistical data and a screening process. Audits of CCPCs are generally restricted to covering the current and one previous taxation year.

In general, the CRA targets its resources on high-risk taxpayers, with minimal resources spent on lower-risk taxpayers.

Statute of limitations

A reassessment of the tax payable by a corporation that is not a CCPC may be made within four years from the date of mailing of the original notice of assessment, usually following a detailed field audit of the return and supporting information. The limitation period is three years for CCPCs. The three-year and four-year limits are extended a further three years in some cases (e.g. transactions with non-arm's-length non-residents). The CRA can also reassess tax, after the end of the normal reassessment period, on a gain from the disposition of real or immovable property if the taxpayer does not initially report the disposition. Reassessments generally are not permitted beyond these limits unless there has been misrepresentation or fraud. Different time limits may apply for provincial reassessments.

The reassessment period of a taxpayer is extended by:

  • three years for income arising in connection with a foreign affiliate of a taxpayer, for taxation years of a taxpayer beginning after 26 February 2018
  • a ‘stop-the-clock’ rule that applies when a requirement for information (excluding foreign-based information, for which an existing ‘stop-the-clock’ rule already applies) or compliance order is being contested in court, for challenges instituted after 13 December 2018; the reassessment period is extended by the amount of time during which the requirement or compliance order is being contested, and
  • three years to the extent the reassessment relates to a loss carryback previously claimed, where a reassessment is made to the loss as a consequence of a transaction involving a taxpayer and a non-arm’s-length non-resident, for taxation years in which a carried back loss is claimed, if that loss arises in a taxation year ending after 26 February 2018.

For the purposes of the extended reassessment period relating to transactions between a taxpayer and non-arm's-length non-resident persons, draft legislative proposals will apply the definition of 'transaction' used in the transfer pricing rules for taxation years beginning after 18 March 2019.

Appeals

A taxpayer that disagrees with a tax assessment or reassessment may appeal. The first step is to file a formal notice of objection within 90 days from the date of mailing of the notice of assessment or reassessment, setting out the reasons for the objection and other relevant information. Different time limits may apply for provincial reassessments. Corporations that qualify as 'large corporations' must file more detailed notices of objection. The CRA will review the notice of objection and vacate (cancel), amend, or confirm it. A taxpayer that still disagrees has 90 days to appeal the CRA's decision to the Tax Court of Canada, and, if necessary, to the Federal Court of Appeal and the Supreme Court of Canada. However, the Supreme Court hears very few income tax appeals.

Topics of focus for tax authorities

Topics of interest to Canadian tax authorities include:

  • Transfer pricing (inbound and outbound), including the quantum and deductibility of:
    • royalty payments made by Canadian corporations to non-arm's-length non-residents
    • goods and services
    • business restructuring expenses incurred by a group of corporations located in more than one country
    • interest rates and interest paid on loans if the funds derived from the loans are used offshore
    • guarantee fees paid by Canadian corporations to related non-resident corporations
    • management fees and general and administrative expenses, and
    • ‘hybrid mismatch’ financial instruments (the CRA is denying a Canadian interest deduction by recharacterising debt as equity when the recipient of the interest is not taxable in their home country).
  • Offshoring of Canadian-source income by factoring the accounts receivable of Canadian corporations.
  • Treaty shopping to reduce Canadian WHT and capital gains tax.
  • Manipulation of tax attributes, including:
    • surplus stripping to reduce Canadian WHT by increasing a Canadian corporation's paid-up capital and subsequently distributing the surplus as a return of capital
    • arrangements that manipulate the adjusted cost base of capital assets, and
    • the acquisition of tax losses realised by arm’s-length entities.
  • The requirement to withhold tax on certain payments made to a non-resident that relate to fees, commissions, or other amounts in respect of services rendered in Canada.
  • Transaction costs, including professional fees, related to business restructuring.
  • Deductibility of reserves (contingent or unsupported amounts).
  • Foreign exchange gains and losses (current or capital).
  • Cash pooling arrangements.

General Anti-Avoidance Rule (GAAR)

The GAAR was first introduced in 1988 and was designed to challenge transactions or series of transactions that would directly or indirectly result in a tax benefit when:

  • a taxpayer relies on specific provisions of the Income Tax Act to achieve an outcome that those provisions seek to prevent
  • a transaction defeats the underlying rationale of the provisions that are relied upon, or
  • an arrangement circumvents the application of certain provisions, such as specific anti-avoidance rules, in a manner that frustrates or defeats the object, spirit, or purpose of those provisions.

If GAAR applies, the CRA may deny any deduction, exemption, or exclusion in computing taxable income or the nature of any payment or other amount may be recharacterised to deny the tax benefit that would result from an avoidance transaction.

Foreign reporting

Reporting requirements apply to taxpayers with offshore investments. The rules impose a significant compliance burden for taxpayers with foreign affiliates. Failure to comply can result in substantial penalties.

The filing due date of T1134 information returns for foreign affiliates was recently changed. The following filing deadlines are for taxation years of a taxpayer beginning:

  • Before 2020: 15 months after year-end.
  • In 2020: 12 months after year-end.
  • After 2020: 10 months after year-end.

Tax avoidance

An 'avoidance transaction' that meets certain conditions is a 'reportable transaction' and must be reported to the CRA. As well, Ontario and Quebec each have a provincial reporting regime for certain aggressive tax planning transactions. Other provinces are considering implementing similar disclosure rules for these transactions.

Tax evasion and aggressive tax avoidance

In recent years, the federal government has made significant investments to strengthen the CRA's ability to unravel complex tax schemes, increase collaboration with international partners, and ultimately bring offenders to justice. Initiatives that have been introduced include:

  • hiring 100 additional auditors to investigate high-risk multinational corporations
  • increasing the number of CRA annual examinations of high-risk wealthy taxpayers from 600 to 3,000
  • increasing twelve-fold the number of transactions examined by the CRA
  • creating a special CRA programme to stop 'the organisations that create and promote tax schemes for the wealthy'
  • creating an independent advisory committee to focus on offshore tax evasion and aggressive tax planning
  • hiring additional auditors and specialists with a focus on the underground economy
  • developing robust business intelligence infrastructure and risk assessment systems to target high-risk international tax and abusive tax avoidance cases, and
  • extending the reassessment period by three years in respect of income arising in connection with a foreign affiliate.

Previously implemented tax measures to help the CRA combat international tax evasion and aggressive tax avoidance follow:

  • Certain financial intermediaries are required to report to the CRA international electronic funds transfers of CAD 10,000 or more.
  • The ‘Offshore Tax Informant Program’ compensates certain persons who provide information that leads to the assessment or reassessment of over CAD 100,000 in federal tax (Quebec has a similar program, the 'Reward Program for Informants of Transaction Covered by the General Anti-Avoidance Rule and Sham Transactions').
  • If a taxpayer fails to report income from a specified foreign property on Form T1135 (Foreign Income Verification Statement), and the form was not filed on time or a specified foreign property was not, or not properly, identified on the form, the normal assessment period for this form is extended by three years.

There are now over 1,100 offshore audits, and more than 54 criminal investigations with links to offshore transactions. The government is also aggressively pursuing those who promote tax avoidance schemes, imposing penalties on these third parties.

The 2019 federal budget announced that Canada will invest an additional CAD 150.8 million over five years to further combat tax evasion and aggressive tax avoidance, allowing the CRA to fund new initiatives and extend existing programmes, including:

  • Hiring additional auditors, conducting outreach, and building technical expertise to target non-compliance associated with cryptocurrency transactions and the digital economy.
  • Creating a new data quality examination team to ensure proper withholding, remitting, and reporting of income earned by non-residents.
  • Extending programmes aimed at combating offshore non-compliance.

The 2019 federal budget also proposes to invest CAD 65.8 million over five years to improve the CRA's information technology systems, including replacing legacy systems, so that the infrastructure used to fight tax evasion and aggressive tax avoidance continues to evolve.

Finally, the 2019 federal budget proposes an additional CAD 50 million over five years to create four dedicated residential and commercial real estate audit teams in high risk regions. These teams will ensure that tax rules relating to real estate are being followed.

Voluntary Disclosures Program (VDP)

In certain circumstances, penalties for non-compliance with tax reporting and payment requirements may be waived through an application to the CRA's VDP. The taxpayer must meet five conditions to qualify for the programme. The application must:

  • be voluntary
  • be complete
  • involve the application or potential application of a penalty
  • include information that is at least one year past due, and
  • include payment of the estimated tax owing.

Key aspects of the VDP include:

  • two 'tracks' of disclosures:
    • a Limited Program when there is intentional conduct to be non-compliant or for corporations with gross revenue exceeding CAD 250 million in at least two of their last five taxation years and any related entities; requires participants to waive their right to object and appeal in respect of the issue disclosed, and
    • a General Program when the Limited Program does not apply
  • a pre-disclosure discussion service
  • referral of transfer pricing applications to the Transfer Pricing Review Committee (and therefore, no relief will be granted under the VDP)
  • specialist review of complex issues or large dollar amounts
  • disclosure of the identity of an adviser who assisted the taxpayer in respect of the non-compliance, and
  • cancellation of previous relief if a VDP application was incomplete due to misrepresentation.

VDP relief is not considered for applications that depend on an agreement being made at the discretion of the Canadian competent authority under a tax treaty provision. If a VDP application does not qualify for VDP relief, a taxpayer may still qualify for penalty and interest relief under the taxpayer relief provisions.

Sharing information for criminal matters

Effective 13 December 2018:

  • the CRA can use the legal tools available under the Mutual Legal Assistance Criminal Matters Act to facilitate the sharing of information related to tax offences under Canada’s tax treaties, TIEAs, and the Convention on Mutual Administrative Assistance in Tax Matters; these tools include the ability for the Attorney General to obtain court orders to gather and send information, and
  • tax information can be shared with Canadian mutual legal assistance partners for acts that, if committed in Canada, would constitute terrorism, organised crime, money laundering, criminal proceeds offences, or designated substance offences.

Base erosion and profit shifting (BEPS)

Canada has been an active participant in the BEPS Action Plan, a project of the OECD and the G20. BEPS refers to tax planning strategies that exploit gaps and mismatches in national tax laws to shift profits to low- or no-tax locations. The government will act on the recommendations from the BEPS Action Plan (final report issued 5 October 2015) relating to:

  • CbC reporting (see Country-by-country [CbC] reporting in the Group taxation section for more information)
  • transfer pricing guidance (see Transfer pricing in the Group taxation section for more information)
  • treaty abuse (see Treaty shopping below), and
  • the spontaneous exchange of tax rulings.

In its 2019 federal budget, the government reconfirmed its commitment to safeguard Canada’s tax system and continue to be an active participant in the OECD/G20’s BEPS initiative. The government continues to work with its international partners to improve and update the international tax system and to ensure a coherent response to fight cross-border tax avoidance.

Spontaneous exchange of tax rulings

The CRA shares select Canadian tax rulings with certain countries, in accordance with BEPS Action 5. The types of tax rulings shared include cross-border rulings related to ‘preferential regimes’, transfer pricing legislation, and those providing a downward adjustment not directly reflected in the taxpayer’s accounts, as well as PE rulings and related-party conduit rulings. Canada will share a summary of the applicable ruling with the countries of residence of the immediate parent company, the ultimate parent company, and certain other parties.

Treaty shopping

The government is committed to addressing treaty abuse in accordance with the minimum standard contained in the final OECD and the G20 BEPS report on treaty shopping (Action 6). The minimum standard requires countries to include in their tax treaties an express statement that their common intention is to eliminate double taxation without creating opportunities for non-taxation or reduced taxation through tax evasion or avoidance, including through treaty shopping arrangements. The minimum standard also requires the adoption of one of two approaches in addressing treaty abuse, either the limitation-on-benefits approach or the limited principal purpose test.

On 29 August 2019, Canada completed the process to ratify the OECD's Multilateral Convention to Implement Tax Treaty Related Measures to prevent Base Erosion and Profit Shifting (also known as the Multilateral Instrument [MLI]). The MLI covers the minimum standards, and various other recommendations, of Action 6 (treaty abuse) and Action 14 (dispute resolution), among other things. Canada has chosen to have the MLI apply to 75 of its 93 tax treaties (the Covered Tax Agreements).

With respect to treaty abuse, Canada will adopt, as an interim measure, a principal purpose test for the Covered Tax Agreements, but intends to adopt a limitation on benefits provision, in addition to or in replacement of the principal purpose test, through bilateral negotiations. To meet the minimum standards for dispute resolution, Canada has agreed to implement mutual agreement procedure and binding arbitration. The MLI will enter into force for Canada on 1 December 2019. If the MLI is also in force at that time for a counterparty (i.e. a jurisdiction that has signed the MLI) to a covered tax convention, the MLI will apply for that covered tax convention for:

  • WHTs on 1 January 2020, and
  • other taxes for tax years beginning on or after 1 June 2020. 

Quebec ‘Tax Fairness Action Plan’

Quebec's ‘Tax Fairness Action Plan’ contains actions that address tax havens, aggressive tax planning, transfer pricing, and e-commerce with suppliers having no significant presence in Quebec, among other things. Many of the actions rely on cooperation with federal authorities. It is an evolving plan that is modified as challenges arise. Key actions relating to corporations include:

  • Improving income tax auditing of CIT:
    • The CRA will give the Quebec government CbC reports and ask other jurisdictions to give Quebec access to similar reports concerning those jurisdictions.
    • The CRA should obtain permission from tax authorities of foreign governments with which Canada has tax treaties to transfer to Quebec information obtained under these treaties.
    • The CRA will give Quebec certain foreign reporting information.
  • Collecting sales taxes on supplies of incorporeal moveable property and services to ‘specified Quebec consumers’ by requiring foreign suppliers with no significant presence in Canada, in addition to suppliers in other provinces and territories that supply goods and services in Quebec, to register for QST (see Provincial retail sales tax in the Other taxes section for more information).
  • Increasing penalties in respect of GAAR-based assessments to 50% (from 25%) of the amount of the tax benefit denied.
  • Strengthening the mandatory disclosure mechanism, which requires reporting to Revenu Quebec of certain transactions resulting in a tax benefit, including transactions involving:
    • an adviser who requires confidentiality from the client,
    • an adviser's remuneration that is conditional on certain events occurring, or
    • contractual coverage to protect the client from certain events.
  • Requiring mandatory disclosure to Revenu Quebec of nominee agreements made as part of a transaction of series of transactions.
  • Blocking access to public contracts for businesses and promoters that have used abusive tax avoidance strategies.
  • Establishing a special regime to counter tax schemes based on sham transactions, by adding new penalties for taxpayers, advisers, and promoters, and extending the standard reassessment period for an additional three years. 

Last Reviewed - 16 December 2019

Contacts, News and Downloads
Select territory
Select territory
      Advanced print
      Advance print
      Please login to see favourites territories in Advance print
      Login
      Signup
      Contact us

      Successful

      Thank you for contacting PwC.
      Contacts
      See full territory list
      Favourites
      Login
      Signup