Finance Minister François-Philippe Champagne is promoting Canada’s advance income tax rulings as a way to give investors greater tax certainty and faster processing as a major investment summit kicks off in Toronto.
Champagne’s office said Sept. 14 that proposed investments of $1 billion or more in Canada will receive priority under the Canada Revenue Agency’s (CRA) Advance Income Tax Rulings program, giving investors legally binding tax guidance on how income tax law would apply to proposed transactions before they commit capital.
“When investors are considering major projects, certainty matters,” Champagne said in a statement.
“By prioritizing advance tax rulings for investments of $1 billion or more, we are giving them the clarity and predictability they need to invest with confidence, create opportunities and help build Canada’s economic future.”…