Regulation 105: It’s time to lighten the burden

Read about CPA Canada’s submission supporting the view that simplified waiver requirements and reduced penalties are required for Regulation 105.

A new submission to the government on the Regulation 105 withholding tax requirements from the American Chamber of Commerce in Canada (AmCham) argues that simplified waiver requirements and reduced penalties would help eliminate trade barriers and improve the Canadian economy.

For many years, CPA Canada and others have urged the Department of Finance Canada to address the unneeded financial and administrative hardships that Regulation 105 imposes on companies with cross-border business.

CPA Canada and several of its members were among the contributors to AmCham’s submission and support its recommendations to Finance — including the view that it is time for the government to address these concerns.

About the Author

Gabe Hayos, FCPA, FCA, ICD.D

Vice-president, Taxation, CPA Canada

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