ARTICLE · 19 APRIL 2016

CRA Creates New Offshore Compliance Advisory Committee

Dentons Canada LLP

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Following the CRA's recent announcement of its efforts to crackdown on international tax evasion, the CRA announced the creation of a new Offshore Compliance Advisory Committee.

CanadaTax

Timothy Fitzsimmons

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The CRA continues its efforts to strengthen tax compliance in Canada.

Following the CRA’s recent announcement of its efforts to crackdown on international tax evasion, the CRA announced the creation of a new Offshore Compliance Advisory Committee. From the CRA’s news release:

… The Offshore Compliance Advisory Committee (OCAC) will be composed of seven independent experts with significant legal, judicial and tax administration experience.

The members will provide input to the Minister and the CRA on additional administrative strategies for offshore compliance to build on the Budget 2016 investment.

The OCAC's first meeting will be in spring, 2016, and its initial areas of focus will include:

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