Tax Legislative Developments and Amendments

Overview

Osler’s Tax practice group provides an informative discussion of recent legislative amendments and proposals. Topics include:

• Uncertain Tax Positions (UTP): new draft legislation requiring certain corporations to report their UTPs on an annual basis
• Canada Revenue Agency’s audit powers: new draft legislation modifying the scope of the CRA’s audit powers
• Update on international tax reform measures: Budget 2022’s update on Canada’s implementation of Pillar One and Pillar Two and interest coupon stripping, Budget 2022’s proposal regarding interest coupon stripping, and draft legislation on the deduction of excessive interest and financing expenses (EIFEL)
• New tax incentives targeting investments in carbon capture and storage and other clean air technologies