TEI Submits Comments on Proposed New Canadian Audit Powers

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On May 28, TEI submitted comments to the Canadian government regarding expanded audit powers for the Canada Revenue Agency (CRA), as proposed in Canada’s Budget 2024. The proposed expanded powers would impose a new penalty for “noncompliance” with information requirements, create a new notice of noncompliance regime, toll the running of the statute of limitations periods in certain circumstances, and require any response to CRA information requirements to be provided under oath or affirmation.

TEI’s comments focused on the faulty premise underlying the proposed expansion of CRA audit powers, the potential conflict of the expanded powers with the rights of Canadian citizens under the Charter of Rights and Freedoms, and the ineffectiveness of many of the expanded powers, among other things. TEI’s comments were submitted under the aegis of its Canadian Income Tax Committee, whose chair is Steve Saunders of ATCO. Benjamin R. Shreck, TEI tax counsel, coordinated preparation of the Institute’s comments. Read the comments here.

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