Global

Details

  • Service: Tax, Global Transfer Pricing Services, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 7/28/2014

Canada - APA program statistics for 2013-2014 

July 28:  A report from the Canada Revenue Agency (CRA) on the advance pricing arrangement (APA) program for 2013-2014 reveals:
  • The CRA completed approximately 50 APAs over the past two years—resulting in enough capacity to accept 39 new APA applications into the program in 2013-2014.
  • Taxpayers had only nine applications to the APA program pending (i.e., when a pre-file meeting has occurred, but the taxpayer has not made an APA submission) in 2013-2014.
  • The CRA accepted approximately 85% more applications for 2013-2014 than in 2012-2013.
  • The CRA set a new record of 25 completed APAs, compared to last year’s 24 completed APAs.
  • The average and median times to complete a bilateral or multilateral APA decreased, respectively, to 48 months (from 52 months) and to 51 months (from 57 months).

Read a July 2014 report prepared by the KPMG member firm in Canada: Canada's APA Program Gets Record Number of Applications



Contact a tax professional with KPMG's Global Transfer Pricing Services.




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