Canadian RUTT Form - TEI Comments

On June 7, 2023, TEI submitted comments to the Canada Revenue Agency ("CRA") regarding the draft Reportable Uncertain Tax Treatment ("RUTT") form. Taxpayer must use the RUTT form to report certain items depending on how those items are treated on a taxpayer's relevant financial statements. TEI's comments focused on recommendations to reduce the burden of preparing and filing the RUTT form with CRA, including limiting the information the form requires, filing the form by a single entity within a consolidated group, and clarifying which taxes the RUTT form encompasses. TEI's comments were prepared by its Canadian Income Tax Committee. Benjamin R. Shreck, TEI Tax Counsel, coordinated the preparation of the Institute's comments.

Read the comments here.