The Canada Revenue Agency (CRA) will shortly begin on-site audits of financial institutions (such as banks, credit unions, investment funds, dealers, custodial institutions, etc.) for purposes of assessing their compliance with the following:
- The Foreign Account Tax Compliance Act as implemented in Canada by the Canada-United States Enhanced Tax Information Exchange Agreement and Part XVIII of the Income Tax Act (FATCA); and
- The Organization for Economic Co-operation and Development’s Common Reporting Standard as implemented in Canada by Part XIX of the Income Tax Act (CRS)
This BLG webinar will discuss what financial institutions may expect with regards to FATCA and CRS audits, as well as the steps that financial institutions should take to best prepare themselves for these upcoming CRA audits.
Please respond by April 3, 2023.
BC | This course has been accredited for 1.0 hour. Course name: Upcoming CRA Audits on FATCA & CRS Compliance. Course number: N01032023.
ON | This program is eligible for 1.0 Substantive Hours.
QC | Please note, the concept of "recognition" or "accreditation" has been abolished. By doing this, the Barreau is trying to make it easier for lawyers to claim mandatory CLE credits without a formal accreditation process. It is now up to individual lawyers to determine the eligibility of a training activity and to declare the hours in their “Dossier de formation en ligne”.