Global

Details

  • Service: Tax, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 7/10/2014

Canada - Required registration of commercial trusts in Quebec  

July 10: Trusts that operate a commercial enterprise—including business, investment, and real estate investment trusts—must register with the Quebec Registraire des entreprises (Quebec registrar).

Existing trusts must register by 29 August 2014 (60 days after 1 July 2014), and new trusts must register within 60 days of beginning business in Quebec.


The Quebec registrar released a broadly worded letter in a 22-page package announcing this new requirement to trustees of Quebec trusts, including those that do not operate a commercial enterprise in Quebec.

KPMG observation

The letter and information package may be confusing or unclear because there are references to certain expressions or types of trusts without properly defining them.


Read a July 2014 report prepared by the KPMG member firm in Canada: Quebec - Commercial Trusts Must Register Effective 1 July 2014




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