The Canada Revenue Agency (CRA) has released a Guide ‘RC4651’ on 2nd March 2017 regarding Country-By-Country Reporting (CbCR) in Canada, which is only available in electronic format. This is a new filing obligation for multinational enterprise (MNE) groups with consolidated revenues of €750m or more. This guide gives information on the interpretation of Canadian CbCR legislation, the effective date of CbCR in Canada, excluded MNE groups, voluntary filings, the secondary reporting mechanism, notifications needed for CbCR reporting, entities required to submit in Canada, deadlines, penalties, automatic exchange of CbCR information, confidentiality of information, etc. The guidance follows the CRA’s recent release of ‘Form RC4649’. This form is a prescribed country-by country report that affected MNE groups will be needed to submit for MNE fiscal years starting on or after 1st January 2016. The CRA’s Form RC4649 is based on the OECD’s model CbC report. It needs MNE groups to report their revenues, taxes paid, profits, accumulated earnings, stated capital, number of employees and tangible assets regarding each constituent entity (CE) and aggregated by jurisdiction, as well as the main activities of each CE of the MNE group. This guide provides instructions on the interpretation of Canada’s CbC reporting legislation on various issues like notification necessities, obligations under the secondary filing procedure, the impact of currency fluctuations on the €750m filing threshold, MNE groups that must incorporate on Form RC4649, investment funds rules, penalties, fiscal years less than twelve months, and the automatic exchange of CbC reports between tax administrations.
Related Posts

Canada: Ontario suspends 25% power surcharge following Trump’s tariff threat
Canadian province Ontario has suspended its 25% surcharge on electricity exports to the US after talks between US Commerce Secretary Howard Lutnick and Ontario Premier Doug Ford. The talks followed after President Donald Trump announced to raise
Read More
Canada, Uruguay to negotiate updated investment agreement
Canada and Uruguay have agreed to begin negotiations on updating their Foreign Investment Promotion and Protection Agreement (FIPA), originally signed in 1999. The revised agreement aims to strengthen trade and investment ties between the two
Read More
Canada extends mineral tax credit to March 2027
Canada's Ministry of Finance and Intergovernmental Affairs issued a release on 3 March 2025 proposing to extend the 15% Mineral Exploration Tax Credit for investors in flow-through shares for an additional two years, until 31 March 2027. The
Read More
US: Trump orders lumber import probe and boost domestic production, raising concerns on potential tariffs
US President Donald Trump has issued two executive orders concerning the timber industry on 1 March 2025. The first executive order aims to boost domestic production, and the second investigates the impact of imported timber on US security and
Read More
Canada retaliates against US tariffs with multi-level countermeasures
Canada’s federal government has announced a detailed tariff package, which includes a comprehensive list of US products that will now face a 25% tariff, effective 4 March 2025, in response to the recent US tariffs on imports of Canadian
Read More
Canada: British Columbia 2025 budget proposes real estate tax and film industry changes
The Canadian province of British Columbia unveiled its 2025 budget on 4 March 2025. The 2025 budget has no changes to corporate or personal tax rates. However, it proposes the following tax measures: Increase in the speculation and vacancy tax
Read More