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| CANADIAN
LAW AND TAX HEADLINES |
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SEC Stops Multi-Million Dollar Fictitious Currency Trading Program
13/05/2008 |
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The Securities and Exchange Commission (SEC) announced last Thursday that it has obtained a court order to stop a USD27m Ponzi scheme involving investors in the United States, Canada, and other countries.
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SARS Commissioner Named New Chair Of OECD Tax Forum
12/05/2008
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The Organisation of Economic Cooperation And Development (OECD) has announced that Pravin Gordhan, Commissioner of the South African Revenue Service (SARS), assumed his new role as Chair of the OECD Forum on Tax Administration (FTA) on 1st May 2008.
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STORY
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Corporate Tax Harmonization Set To Save Ontario Businesses Money
09/05/2008 |
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Gordon O'Connor, Minister of National Revenue, and Monique Smith, Ontario's Minister of Revenue recently outlined the significant progress that has been made to harmonize the corporate tax system for Ontario businesses.
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CIDA To Support Governance And Accountability Project In Antigua And Barbuda
02/05/2008 |
Prime Minister of Antigua and Barbuda, Baldwin Spencer (pictured), Minister of Finance, Errol Cort, and other government officials met on Monday with a team from the Canadian Government to discuss the initial stages of proposed projects in democratic governance and accountability in the Caribbean.
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STORY
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USTR Publishes Special 301 Report
29/04/2008 |
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The Office of the United States Trade Representative (USTR) on Friday released its annual 'Special 301' Report, examining the adequacy and effectiveness of intellectual property rights (IPR) protection in US trading partners.
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G-7 Finance Ministers Comment On World Economy
15/04/2008
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The G-7 Finance Ministers and Central Bank Governors issued a joint statement commenting on the state of the global economy last week.
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UK CEOs Most Sceptical About Tax Harmonisation
11/04/2008 |
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While UK business leaders view the tax regime as the most important area of regulation that the government could potentially improve, many more are opposed to the idea of tax harmonisation compared to their global peers, according to a new report by PricewaterhouseCoopers.
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CRA Launches Basic Tax Information E-Service
31/03/2008 |
Quick Access for individuals, a new e-service which provides basic tax information for Canadians Online, was launched on Thursday by the Canada Revenue Agency (CRA).
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CRA Finds New Ways To Reach Canadians
27/03/2008 |
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The Canada Revenue Agency (CRA) announced on Wednesday that it is to offer a new and enhanced set of communication tools to better communicate with Canadians, and to help them stay informed of important tax information.
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CRA Undertakes Significant Tax Fraud Investigation
26/03/2008 |
Over 300 Canada Revenue Agency investigators and other CRA officers have been executing search warrants across western Canada, it emerged last week.
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CRA Announces Tips To Help Protect Against Tax Preparer Fraud
14/03/2008 |
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With Fraud Prevention Month in full swing, the Canada Revenue Agency (CRA) on Tuesday warned taxpayers to stay away from return preparers who offer false tax deductions such as inflated charitable donations, child care expense claims, or even business expenses or losses.
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'Tax Wedge' Falling Across OECD
13/03/2008 |
The average share of taxes and social security payments as a proportion of total labour costs among member states of the Organisation for Economic Cooperation and Development (OECD) fell slightly at most earnings levels between 2000 and 2006, according to a new report.
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Flaherty's Budget Motion Blocks Liberal Tax Break
13/03/2008 |
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Canadian Finance Minister Jim Flaherty has tabled a motion in the House of Commons which implements measures announced in the 2008 budget, but which also blocks a bill proposed by the opposition Liberal Party to provide widespread educational tax relief.
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Canada Extends Capital Gains Rules To Foreign Currency Debt
12/03/2008 |
The Canadian government has proposed technical changes to extend the application of certain income tax rules which apply to capital gains and losses of a corporation on an acquisition of control, to also apply to capital gains and losses on debt denominated in a foreign currency.
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Canada Negotiates Open Skies Agreement With Barbados
11/03/2008 |
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The governments of Canada and Barbados have negotiated an Open Skies-type air transport agreement to increase trade and tourism between the two countries.
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CRA Warns Taxpayers To Protect Against Identity Theft
10/03/2008 |
Canada's Minister of National Revenue, Gordon O'Connor, recently launched the Canada Revenue Agency's participation in Fraud Prevention Month by encouraging Canadians to protect themselves against identity theft.
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Canadian Film Industry Up In Arms Over Tax Credit Proposal
07/03/2008 |
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The Canadian film production industry has warned that proposed amendments to tax legislation currently before Parliament could allow the government to use film tax credits as a censorship tool, by denying funding to movies and television productions with controversial or politically sensitive subject matter.
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FSA Helps Investors Get GBP1mn Back From Boiler Rooms
07/03/2008 |
The UK's Financial Services Authority (FSA) has helped 153 investors to get back over GBP1mn, after they were illegally sold shares by unauthorised, overseas investment firms also known as boiler rooms.
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Canada's Anti-Money Laundering Regime Passes FATF Scrutiny
06/03/2008 |
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A report released last week by the Financial Action Task Force (FATF) shows that Canada has made steady progress in combating money laundering and terrorist financing since an assessment made in 2007, Finance Minister Jim Flaherty has announced.
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USTR Disappointed With Tribunal’s Mixed Decision On Softwood Lumber
06/03/2008 |
Gretchen Hamel, a spokeswoman for the USTR, has this week commented on the issuance of the LCIA's decision in the softwood lumber arbitration process between the United States and Canada.
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