ARTICLE · 09 NOVEMBER 2012

Red Tape Reduction Action Plan - What It Means For Tax Compliance

PwC Management Services LP

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Canada is internationally recognized as one of the best places to do business.

CanadaStrategy

Lori-Ann Beausoleil

Article by Betty Ann Jarrett, Sal Amodeo and Natasha K. Thompson

Canada is internationally recognized as one of the best places to do business. To continue to improve the conditions for doing business in Canada, on October 1, 2012, the federal government introduced the Red Tape Reduction Action Plan. This action plan will be implemented over the next three years, putting into practice common-sense solutions to burdensome barriers identified by Canadian businesses. Some parts of the plan will affect Canadian tax compliance reporting.

The action plan is made up of three major themes, which contain a total of six fundamental or systematic reforms. These in turn are supported by 90 department-specific changes.

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