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ARTICLE · 14 OCTOBER 2024

Canada Revenue Agency Updates Its Guidance On Mandatory Disclosure Rules

Miller Thomson
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On June 22, 2023, Canada's enhanced mandatory disclosure rules received royal assent. The enactment expanded the rules for reportable transactions and introduced requirements for notifiable transactions...

CanadaTax
Raffaella Garofalo
Raffaella Garofalo
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On June 22, 2023, Canada's enhanced mandatory disclosure rules received royal assent. The enactment expanded the rules for reportable transactions and introduced requirements for notifiable transactions and reportable uncertain tax treatments. Further information on the mandatory disclosure rules can be found in our previous articles.

On July 5, 2023, the Canada Revenue Agency (the "CRA") published guidance on the application of the mandatory disclosure rules (the "Guidance")1. The CRA has since updated this Guidance, providing further clarification.

This article briefly discusses the CRA's most recent Guidance updates, made as of August 15, 2024 (the "Updates").

Updated guidance on reportable transactions

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