Posted on August 24th, 2023 in Cross-Border Tax, Domestic Tax

Bill C-47: International Tax Amendments

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This article, authored by RSM Canada, highlights the international aspects of the recent amendments to Bill C-47 in Canada’s Income Tax Act.

The article covers the expansion of withholding tax obligations for non-residents, the narrowing of the money lending business exception, and the introduction of a new functional currency and broader stop-loss provision.

The aforementioned changes have compliance implications for companies that conduct business across borders. 

Article written by RSM Canada and referenced with permission as a member of RSM Canada Alliance.