Canada Revenue Agency's new mandatory disclosure rules with significant non-compliance penalties passed into law

On June 22, 2023, Bill C-47 – An Act to implement certain provisions of the budget tabled in Parliament on March 28, 2023 received royal assent, implementing the new mandatory disclosure rules. The rules require taxpayers, promoters and advisors to report certain types of transactions or series of transactions to the Canada Revenue Agency (CRA).

Read the complete article here.

This piece was originally posted on Dentons.com

Subscribe and stay updated

Receive our latest blog posts by email.

Stay in Touch

About Dina Awad

Dina Awad is a partner in our Litigation and Dispute Resolution group. Her practice encompasses a variety of complex regulatory and commercial matters with a focus on advocacy, risk analysis, and compliance advice in matters including environmental law, health law, commercial disputes, extraordinary remedies, and franchise law.