The CRA recently released its 2016 Advance Pricing Arrangement (APA) Program Report.
The results from the latest APA report indicate that the CRA is focusing on its backlog of existing APAs. The CRA began the 2016 calendar year with 107 active cases but was able to achieve a closing inventory of 90 cases at the end of the calendar year, while accepting 12 new cases. The CRA continues to emphasize the importance of rigour in the early stages of its APA process in an effort to help reduce the overall time needed to complete cases.
Download this edition of Canadian Tax Adviser to learn more.
Information is current to November 14, 2017. The information contained in this publication 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. For more information, contact KPMG's National Tax Centre at 416.777.8500
© 2017 KPMG LLP, a Canada limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.