Income Tax Mandatory Disclosure Rules Consultation
Current Status: Continues through consultation on draft legislative proposals, sample notifiable transactions and a backgrounder released on February 4, 2022.
This consultation process gives stakeholders and members of the public the opportunity to provide views and feedback on proposals to enhance Canada’s income tax mandatory disclosure rules. Specifically, this includes changes proposed to the Income Tax Act’s reportable transaction rules, a new requirement to report notifiable transactions, and a new requirement for specified corporations to report uncertain tax treatments. Stakeholders are invited to provide comments on the draft legislation, sample notifiable transactions and backgrounder, which were released on February 4, 2022 as part of a broad package of draft legislative proposals.
Details of original proposal:
Your feedback will be considered alongside the analysis of departmental officials to help inform decisions on the proposed enhancement of Canada’s income tax mandatory disclosure rules.
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