TEI Comments on Proposed Change to Canada’s Foreign Affiliate Reporting Requirements

On May 1, 2018, TEI submitted comments to the Canadian Department of Finance concerning the proposed change to the filing deadline for Form T1134, Information Return Relating to Controlled and Not-Controlled Foreign Affiliates, as detailed in the Tax Measures: Supplementary Information annex to the government’s 2018 federal budget plan. TEI’s comments emphasized that, if adopted, the proposed change to the Form T1134 filing deadline would impose significant additional compliance costs and administrative burdens on Canadian taxpayers with foreign operations, while producing no material benefit to the Canada Revenue Agency or its ability to efficiently administer the Income Tax Act.

TEI’s comments were developed under the aegis of the Institute’s Canadian Income Tax Committee, whose Chair is Paul T. Magrath. Watson M. McLeish, Tax Counsel for the Institute, coordinated their preparation.

Download the letter.