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International Tax advisory
Canada signs Multilateral Convention to Implement Tax Treaty-Related Measures to Prevent BEPS
Canada has over 90 bilateral tax treaties and over 20 bilateral Tax Information Exchange Agreements in force, with at least a dozen more treaties or agreements in the negotiation stage. This fact alone highlights the importance such agreements play on the global tax stage. Not surprisingly, Canadian multinationals and Canadian subsidiaries of foreign multinationals have long understood the impact tax treaties may have on how their cross-border intergroup transactions will be taxed.
Jun 12, 2017
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A guide to understanding malware & how to protect your business
In today’s ever-changing business environment, digital globalization is aggressively increasing. With the world more connected than ever, it is the dawn of a new era of surging flows of data and information. The growth of the internet and use of digital technology have both transformed and disrupted the world of business. A hyper-connected universe has opened up radical new possibilities, but has also cultivated an increase in cybercrime.
Jun 7, 2017
On The Mark-A guide to understanding malware & how to protect your business
Trump’s Proposed U.S. Tax Reform and What It Means for Canadians
The announcement of the Trump administration’s plan for tax reform has left Canadians concerned regarding the impact of such drastic changes by our neighbour and largest trading partner. Tax reform is one of President Trump’s top priorities, however even with a Republican majority in both the House and the Senate, it is unlikely the proposal will be passed in its current form. At this point, the proposal or tax plan remains just that and the Republicans will likely have some compromising to do in order to obtain the super-majority generally required to formulate agreeable legislation and get it passed. Regardless of the extent of tax reform, there is no question that Canadians will be affected and we should be prepared if and when this occurs. Expanding on our recently published <a href="/en/cbn/publications/taxflash-what-trumps-tax-agenda-mean-for-canadians" target="_blank">Tax Flash</a>, consider these potential tax impacts.
Scott Dupuis May 31, 2017
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Final U.S. Rules for Related-Party Debt
On October 13, 2016, the U.S. Treasury Department and the IRS issued final and temporary regulations under Internal Revenue Code Section 385. These regulations offer some relief to the provisions of the proposed regulations which were issued on April 4, 2016. For details of the proposed regulations, see Collins Barrow - U.S. Tax Alert, <a href="/en/cbn/publications/u.s.-proposes-new-rules-for-related-party-debt" target="_blank"><em>U.S. Proposes New Rules for Related-Party Debt</em></a>.
May 30, 2017
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Multistate Foreign Corporation State Income Taxation – Factor Presence Nexus
Is it possible that a foreign corporation that has no physical presence in a state could be required to pay state income taxes resulting from business/sales within that state?  The answer is yes.  This surprises many foreign corporations, who find that additional state income taxes may result by them simply making sales in a particular state.
May 30, 2017
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International Tax advisory
What does Trump’s tax agenda mean for Canadian corporations and individuals?
Canadians with business or personal interests in the United States and American citizens living in Canada may want to take a renewed look at the fast-changing tax environment south of the border. Tax reform was one of the key planks in Donald Trump’s election platform, although it’s unclear how many of these ideas he’ll be able to implement. It would be prudent to consider some possible implications for your business, your family and yourself. Of course, any steps you take depend on your personal circumstances and they should be taken only after consultation with a qualified business professional. But in broad strokes, here are some ideas to consider.
May 25, 2017
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Business advisory: Bridging the gap for success
Traditionally, accounting firms have focused on providing assurance and taxation services for their small business clients. Discussions often center on historical results. While these are useful and an important base discussion to have, we also want our clients to be looking forward, actively planning and pursuing their future. This is the bridge that business advisory builds to take clients to the next level.
May 23, 2017
A wooden boardwalk at Gros Morne National Park in Newfoundland, Canada, leading through golden grassy terrain beside a body of water, with mountains and a dramatic cloudy sky in the background.
Salary vs. dividend for medical professionals
For medical practitioners, the choice between salary or dividends is usually a conflicted one. The general sense is that the grass is greener on the other side. As tax rates change both federally and provincially, it’s necessary to consider the pros and cons of each option, as well as other aspects of pay, such as retirement savings, in order to make sure the right strategy is implemented.
May 15, 2017
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Technical Bulletin: May 2017
<p style="margin-left:1.0pt;">This <em>Technical Bulletin</em> covers the various developments from February 2017 to April 2017. <p style="margin-left:1.0pt;">Acknowledgement: The content of the <em>Technical Bulletin</em> has been summarized or reproduced from the CPA Canada, IASB and IFRIC, IAASB, AcSB, PSAB, AASB press releases, updates, publications, meeting summaries and other publications referenced within the <em>Bulletin</em>.
May 12, 2017
Technical Bulletin-Collins Barrow
International Indirect tax Tax advisory Transfer pricing
Budget 2017 Update - Relief for contingency fee engagements
<em>This information is current to May 11, 2017. Please refer <a href="/en/cbn/publications/taxflash-budget-2017-update-relief-for-contingency-fee-engagements" target="_blank">here</a> for an updated version of this Tax Flash. </em> As proposed in the March 22, 2017 budget, every professional must include year-end work-in-progress (WIP) into taxable income effective for taxation years beginning after March 21, 2017. WIP for professionals typically represents unbilled professional time and cost incurred in the rendering of services to clients. This is often captured in the form of a professional’s “charge-out” rate, which represents their cost, overhead and some profit component.
May 11, 2017
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Negotiation strategies for selling your business
Negotiating the sale of your business isn’t easy. The ability to negotiate is vital when entering into a merger and acquisition (M&A) transaction. However, it’s difficult to stay objective when parting with a company you’ve dedicated years of your life to.
May 10, 2017
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