The World Tax Advisor - July/August 2005 (Recent Developments in The Americas)

This article discusses international tax developments and has been prepared by professionals in the member firms of Deloitte Touche Tohmatsu.

Contents

• Canada - CRA to Intensify Focus on Nonresident Employer Obligations / Canada, U.S. Sign Memorandum of Understanding on MAP

• Chile - Mining Tax Finally Introduced

• Mexico - 2005 Tax Administrative Rules Published

• United States - Dual Consolidated Loss Regulations Proposed / IRS Exampines Stock Ownership Requirement Under U.S.-U.K. Tax Treaty

The Canada Revenue Agency (CRA) has undertaken a new audit initiative aimed primarily at nonresident employers that do not meet their Canadian payroll obligations. The CRA will be examining the income tax returns of individuals who report employment income that had not been recorded by the employer on the year-end wage slip (i.e. T4 slip). It is possible that individuals affected by this project will soon receive requests for