The Canadian government is revamping its advance income tax rulings process and restricting access to its voluntary disclosures program to better address tax evasion and aggressive tax avoidance, the country’s national revenue minister said.
Improvements to the Canada Revenue Agency’s audit process for multinational and large businesses, together with funding commitments of more than C$1 billion ($740 million) to fight tax evasion, are expected to help recover more than C$13 billion in taxes owing in the fiscal year that ended March 31, 2017, National Revenue Minister Diane Lebouthillier said June 1.
Read more at bna.com
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