The Canadian Budget Implementation Act, 2016 No. 2 received Royal Assent on 15 December 2016. The Act includes measures of the budget not already passed ({News-2016-06-29/A/2- previous coverage}), including several measures on anti-avoidance and BEPS.
CbC Reporting
Canada's implementation of Country-by-Country (CbC) reporting requirements is based on BEPS Action 13. The main CbC reporting provisions of the Act include:
- The reporting requirements apply for fiscal years beginning after 2015…