Global

Details

  • Service: Tax, Global Mobility Services, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 4/8/2014

Canada - Budget bill #1 substantially enacted; includes FATCA 

April 8: Canada’s Department of Finance released Bill C-31—the Budget Bill #1—in late March 2014 to implement certain measures announced in the 2014 federal budget. This omnibus legislative package contains:
  • 362 pages of legislation
  • Measures to implement an enhanced tax information exchange agreement between Canada and the United States

Bill C-31 received first reading on 28 March 2014; accordingly, the tax measures included in that legislation are considered to be substantively enacted for accounting purposes as of 28 March 2014.


Read an April 2014 report prepared by the KPMG member firm in Canada: 2014 Federal Budget Bill #1 Now Including FATCA Substantively Enacted




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