The Canadian Government has said that it will review its tax ruling process and voluntary disclosures program as part of its response to recommendations made last year by a parliamentary committee.
In October 2016, the Standing Committee on Finance released its report on the Canada Revenue Agency’s (CRA’s) efforts to tackle tax avoidance and evasion. The Government has now published its response, in which it accepted all 14 of the committee’s recommendations.
The CRA is currently conducting audits of more than 820 taxpayers and criminally investigating 20 cases of tax evasion related to offshore accounts.
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