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Canada Revenue Agency Revises Administrative Policy on Obtaining Taxpayer Information

 

In the last few years, the Canadian tax community has seen a steady increase in the exercise of the Canada Revenue Agency’s powers to demand and obtain taxpayer information. Those powers, as set out in the Income Tax Act (Canada), are broad: For a self-assessment system such as Canada’s to be effective and fair, tax authorities need access to the relevant facts that allow them to identify and understand the transactions the taxpayer has entered into.

 

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