Author: Сергей Панов

The tendency of the federal and local governments in Canada to raise taxes for companies, means that the country is losing its competitive advantage, according to a new report, School of Public Policy at the University of Calgary. The school Report of 2015 about Tax Competitiveness created by Filip Bezel and Jack Mintz explained that the effective rate of the corporate tax of Canada on new investments raised from 17.5 percent of 2012 to 20 percent of 2015. In the report speaks that this increase, first of all, at higher provincial rates of the corporate income tax, reversals of British Columbia the governments of the previous goods and services of tax reforms, and reducing tax benefits at the federal and regional levels. The reforms brought in the federal budget of 2016 will see effective increase in a rate to 20.1 percent. The school showed that now Canada takes the sixth place on the extreme height of an effective rate of a tax (METR) in the G7 and the highest 13th place in the G20 and OECD group of the countries. Among the provinces of Canada the report noted that Newfoundland and Labrador increased the rates of the corporate income tax to deal with their deficits while...

Minister of Revenue of Canada, Diane Lebouthillier, assists the government, which is aimed at improving the interaction between the tax authority with SME. Diana Lebouthillier participated in a roundtable discussion with owners of small and medium-sized businesses in New Brunswick, where it drew attention to its mandate to modernize the Tax Office Canada (CRA). The Government's consultation is to gather information about how the CRA can make their programs and services more streamlined and focused on taxpayers. Diana Lebouthillier said: "Our government has made a commitment to make real changes. As for the Minister of National Revenue, one of my main priorities is to ensure that the Internal Revenue Canada became even more customer-oriented organization, so that Canadians and Canadian business owners feel more protected, respected and valued." Budgeted CAD 185.8 million (USD 141.98 million) for the period 2016-2021, and CAD 14.6 million currently. Author: Olena Kutova senior lawyer of the Finance Business Service company ...

Canadian Finance Minister Bill Morneau has announced that it will close loopholes surrounding the exemption from capital gains tax (CGT) on the sale of a principal residence. Canadian Finance Minister Bill Morneau has announced that it will close loopholes surrounding the exemption from capital gains tax (CGT) on the sale of a principal residence. According to the Department of Finance, the government "is committed to tax fairness, as well as to the fact that the tax exemption on capital gains from the sale of a principal residence will only be available in appropriate cases." Last month, the Canada Revenue Agency (CRA) announced that it will investigate the case when the real estate speculators manipulated loopholes in the ownership rules permit to evade taxes. According to the amendments, a person who was not resident in Canada, in the same year acquired a residence permit will not qualify for tax exemption in the current year. Trust will be required in each current year, after 2016, it will apply - a spousal or common-law trust, a trust qualifying disability or trust in favor of a minor child, whose parents have died. The beneficiary of a trust, or a family...

Canadian IRS released its first study on the extent of the tax gap. In broad terms, the tax gap is the difference between the tax that would be paid if all obligations are fully met in all cases, and the tax actually paid and collected. "I am pleased to present to you the first study proceeds Agency of Canada estimated the tax gap. It is important to use this tool to make sure that Canadians are confident in the fairness of the tax system. It is equally important that we continue to look for innovative ways for Canadians to understand and comply Canada's tax system, "said Minister of Canadian national income, Diana Lebauthiler. This is the first study to have a glance to show how Canada will speak on the assessment of the tax break, after it was promised to do so in April 2016 as part of international efforts to combat tax evasion. Along with the report, Canada has published estimates GST / HST gaps suggest that the tax break for this tax is 6.2% in 2014, the whole pursuant to the previous years. Having released two reports, the Canadian tax authority reported that new estimates of the tax gap include Canada and 24 other OECD countries, which are evaluated at least...