• Service: Tax, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 1/21/2014

Canada - CRA’s new approach to small business tax compliance 

January 21: The Canada Revenue Agency (CRA) announced a new approach to improving tax compliance by small and medium sized businesses.

This new approach is designed to help prevent errors in business tax returns up front—rather than finding them in CRA audits after the returns are filed. According to the CRA, the new approach is intended to “reduce red tape” for businesses and make it easier for them to comply with their tax obligations.

CRA’s new approach has three parts:

  • An enhanced focus on taxpayers the CRA considers to be at a high risk of non-compliance
  • A Liaison Officer Initiative to provide small and medium sized businesses with in-person information and education on tax compliance
  • A program to require paid tax return preparers to register with the CRA

Read a January 2014 report prepared by the KPMG member firm in Canada: CRA’s New Approach to Small Business Tax Compliance

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