Tune in to our latest quick chat where we outline what employers need to know about Canada’s augmented mandatory reporting rules for tax in certain transactions. This is tailored for tax professionals, lawyers, compliance officers, General Counsel, and Canadian business leaders involved in drafting and reviewing contracts (purchase agreements, minutes of settlement, etc.).
These rules are important for employers to bear in mind because they potentially create reporting obligations in the context of employment law settlements where interpretations may presume a tax benefit.
In this In Focus video, our Canadian Tax and Corporate Transactions lawyers discuss how common contractual protection clauses could trigger an early reporting requirement and expose taxpayers to significant penalties if they fail to report to the Canada Revenue Agency.
Click here to watch the video.