The Canada Revenue Agency has determined that additional reporting rules are required regarding reportable and notifiable transactions. To address these concerns, Budget 2021 has proposed to enhance Canada’s mandatory disclosure rules. The changes will apply to taxation years and transactions on or after January 1, 2023.
For more information, visit the Canada Revenue Agency website at the link below:
https://www.canada.ca/en/department-finance/news/2022/02/mandatory-disclosure-rules.html
