Form T1134 Updated: Foreign Affiliate Information Reporting
The Canada Revenue Agency (CRA) released an updated version of form T1134 on February 3, 2021. The updated form will be used for reporting entities’ taxation years that begin in 2021 or later and is due 10 months after the end of the taxation year.
The goal of the revised form is to support the government’s commitment to combat international tax evasion and aggressive tax planning by capturing legislative amendments made since the last major revision of the form in 2012.
In this article, written by RSM Canada, it outlines some of the new reporting requirements and changes made to the form.