Resource Industry Tax Reporting — Ready, Set, Go | KPMG | CA

Resource Industry Tax Reporting — Ready, Set, Go

Resource Industry Tax Reporting — Ready, Set, Go

March 11, 2016, No. 2016-10. Oil and gas and mining companies operating in Canada now have the final version of guidance, technical specifications and forms they need to start reporting tax and other payments they make to Canadian and foreign governments under Canada’s new reporting regime. Affected businesses must file reports for their fiscal years that begin after June 1, 2015.

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The reporting regime is administered by Natural Resources Canada (NRCan). A new website posted by NRCan on March 1, 2016 provides information about the reporting regime, the enrollment and reporting forms and tools for businesses including information sheets, and the final guidance and technical reporting specifications.

The final guidance expands upon the enrollment requirements for reporting businesses and attestation requirements for reports. The guidance also provides more information on the use of reports prepared for other jurisdictions to meet Canadian requirements, among other things.

Download this edition of the TaxNewsFlash to learn more.

Disclaimer

Information is current to March 10, 2016. The information contained in this TaxNewsFlash-Canada is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation.

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