CRA PUBLISHES REVISED FATCA AND CRS GUIDANCE
On March 10, 2022, the CRA released revised Guidance on the Canada-U.S. Enhanced Tax Information Exchange Agreement (FATCA Guidance) and Guidance on the Common Reporting Standard (CRS Guidance).
The Guidance, which is intended to assist Canadian financial institutions and their account holders with common implantation questions surrounding FATCA and CRS, reflects several of the recommended revisions from the IIAC Global Tax Reporting Committee.
A summary of the revisions published on March 10, 2022 is available here.
For more information, please contact Adrian Walrath.