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ARTICLE · 30 JUNE 2023

Bill C-47 Introduces Significant Changes To The Canadian Mandatory Disclosure Rules

Osler, Hoskin & Harcourt LLP
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On June 22, 2023, Bill C-47, an Act to implement certain provisions of the budget tabled in Parliament on March 28, 2023, received Royal Assent and became law.

CanadaTax
Patrick Marley
Patrick Marley
Matias Milet
Matias Milet
Jack A. Silverson
Jack A. Silverson
Oleg Chayka
Oleg Chayka
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On June 22, 2023, Bill C-47, an Act to implement certain provisions of the budget tabled in Parliament on March 28, 2023, received Royal Assent and became law.

Bill C-47 introduces a number of tax changes that were announced in the 2023 Federal budget, as well as various other previously announced tax changes, including significant revisions to the Canadian mandatory disclosure rules.

The federal government committed in the 2021 Federal Budget to update and enhance the Canadian mandatory disclosure rules in light of the OECD's recommendations and best practices of other countries. To that end, Bill C-47 substantially revises and amends the mandatory disclosure rules by means of:

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