Global

Details

  • Service: Tax, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 12/24/2013

Canada - Tax changes to report on 2013 financial statements 

December 24:  Those involved in preparing financial reports for corporations or other organizations need to be aware of certain 2013 Canadian income tax changes that may need to be reflected in year-end financial statements under International Financial Reporting Standards (IFRS), Accounting Standards for Private Enterprises (ASPE) or U.S. generally accepted accounting principles (U.S. GAAP).

For example, tax legislation enacted during 2013 and changes to federal and provincial corporate rates for income earned by a general corporation that are effective as of 31 December 2013 may need to be reflected in the financial statements.


Read a December 2013 report prepared by the KPMG member firm in Canada: Tax Accounting Round-Up — 2013 Canadian Tax Changes




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For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at:

+ 1 202 533 4366

1801 K Street NW
Washington, DC 20006.

 

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