Patrick Marley, Peter Macdonald, Ilana Ludwin, Kaitlin Gray, Taylor Cao
Dec 8, 2020
Two significant tax developments in 2020 were Canada’s measures in response to COVID-19 and Canada’s participation with the OECD’s pursuit of international tax reform.
COVID-19 measures included relief from various tax administration and litigation deadlines and new financial support programs. Canada has used its tax system as an effective means to deliver economic support to various sectors of the economy impacted by the pandemic – with the result that Canada is forecasted to have its largest deficit since WWII. Significant budget deficits from COVID-19 spending will put pressure on Canada to raise additional revenue in the future...
Read more at legalyearinreview.ca