Canada: Temporary GST/HST exemption proposed for consumer goods
Canada’s federal government announced a proposed temporary exemption from the goods and services tax/harmonized sales tax (GST/HST) for specific consumer goods on 21 November 2024. With a GST/HST exemption across the country, Canadians will be
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Canada: Parliamentary Budget Officer says AMT changes to cut income tax revenues by CAD 598m
The Canadian Parliamentary Budget Officer (PBO) has presented updates on 7 November 2024 regarding Canada's Alternative Minimum Tax (AMT) changes outlined in the 2024 Budget. Budget 2024 introduced amendments to the Alternative Minimum Tax (AMT)
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Canada, Ecuador conclude fourth round of FTA negotiations
Ecuador’s Ministry of Production, Foreign Trade, Investment, and Fisheries announced that Ecuador and Canada have successfully concluded their fourth round of negotiations for an FTA on 25 October 2024. This meeting, which took place in person
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Canada: Alberta sues Federal Government over carbon tax exemption for heating oil
Alberta, Canada's leading oil-producing province, has sued the federal government over its carbon tax exemption for home heating oil, claiming the exemption is unconstitutional and unlawful. Premier Danielle Smith, leader of the United
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Canada: Nova Scotia lowers harmonised sales tax rate
The Department of Finance of Nova Scotia, Canada, announced that it lowered its harmonised sales tax (HST) rate, by 1%, to 14%. The new HST rate will go into effect on 1 April 2025. Nova Scotia’s HST combines the provincial value-added tax
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Canada eases surtax on Chinese imports
Canada’s Department of Finance announced new relief measures on 24 October 2024, allowing Canadian importers of Chinese steel, aluminium products, and EVs to request remission of surtaxes under certain conditions for a limited time. This
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Canada updates rules for paying non-residents for services
The Canada Revenue Agency (CRA) released an updated guide – T4A-NR – Payments to Non-Residents for Services Provided in Canada – for those who make payments to non-resident individuals, partnerships, or corporations for services rendered in
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Canada consults taxation of vacant lands
Canada’s government has initiated public consultations concerning the potential taxation of vacant residentially zoned land. Announced in the Budget 2024, this initiative aims to motivate private landowners to develop unused properties. The
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Canada to impose 25% surtax on Chinese steel and aluminium, 100% on EVs
Canada’s Deputy Prime Minister and Minister of Finance Chrystia Freeland, announced in a release the final list of Chinese-made steel and aluminium products and Chinese-made electric vehicles (EVs) subject to surtax on 1 October 2024. The
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Canada: CRA publishes guidance on new reporting rules for digital platforms
The Canada Revenue Agency (CRA) published guidance regarding the new reporting requirements for digital platform operators on 10 September 2024. Under the rules, reporting platform operators are now required to collect and report information on
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Canada: CAD 2.88 billion deficit in April-June 2024
Canada's finance ministry reported that its budgetary balance shifted to a CAD 2.88 billion (USD 2.14 billion) deficit in the first quarter of the fiscal year 2024 yesterday, 30 August 2024. This change was mainly driven by an increase in programme
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US seeks USMCA dispute settlement talks over Canada’s digital services tax
The US Trade Representative Katherine Tai announced that the US has requested dispute settlement consultations with Canada under the United States-Mexico-Canada Agreement (USMCA) regarding Canada’s recently enacted digital service tax (DST) on 30
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Canada consults global minimum tax, capital gain inclusion rate draft legislation
Canada’s Department of Finance invites public feedback on draft legislative proposals to implement the 2024 Budget and other previously announced tax measures. These proposals include changes such as introducing a global minimum tax and increasing
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Canada: PBO predicts CAD 17.4b revenue boost from capital gains tax hike
Canada’s Parliamentary Budget Officer (PBO) published an estimate that the increased capital gains inclusion rate, implemented in the 2024 Budget, will boost income tax revenues by CAD 17.4 billion from 2024-25 to 2028-29. The PBO issued this
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Canada seeks comments on new entrepreneurs’ incentive
Canada’s Department of Finance has put forward a proposal to enhance the Canadian Entrepreneurs' Incentive as part of recently released draft legislative measures on 12 August, 2024. The Department is seeking public comments on these changes
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Canada consults on 2024 budget additions, including Pillar Two UTPR
Canada's Department of Finance, in a release, announced a public consultation on a legislation that includes new measures for Budget 2024 on 12 August, 2024. This follows the enactment of several budget measures in June 2024 under the Fall
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Google ads to cost more in Canada
According to a new Google update on jurisdiction-specific surcharges guidance, Google Ads will implement an additional fee for ads displayed in Canada. This surcharge aims to help offset the costs associated with complying with the country's new
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Canada: Digital platforms to report seller information by January ‘25
Canada enacted the Digital Services Tax Act (DSTA) on 20 June 2024, which came into effect by Order in Council on 28 June 2024. Starting in the 2024 calendar year, new tax reporting requirements mandate digital platforms to collect and verify
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