Tax Alert Canada. Alberta s Venture Capital Tax Credit. Overview
|
|
- Brandon Jeffry McDowell
- 5 years ago
- Views:
Transcription
1 2017 Issue No January 2017 Tax Alert Canada Alberta s Venture Capital Tax Credit EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They act as technical summaries to keep you on top of the latest tax issues. For more information, please contact your EY advisor or EY Law advisor. The Alberta Government has introduced the Alberta Investor Tax Credit (AITC) in order to stimulate investment in certain industries with strong job-creation potential. The AITC offers a 30% tax credit to investors who provide venture capital to eligible companies during the three-year period in which the AITC program is in force. It is offered on a first come, first served basis. The program will start accepting applications on 16 January In this Tax Alert we provide a general overview of the AITC. A full understanding of all the applicable legislation and regulations is strongly suggested before submitting an application. Overview The AITC is a three-year program that will provide a tax credit to Alberta investors who provide venture capital to small Alberta businesses that are engaged in certain eligible business activities. In order to receive the tax credit, corporations and individuals who are liable to pay income tax in Alberta may invest directly in an eligible business corporation (EBC) or in a venture capital corporation (VCC) that subsequently makes eligible investments in an EBC. The AITC will be offered on a first come, first served basis and has a budget of $90 million over three years. The Government of Alberta will keep a public record of remaining funds for reference.
2 The EBC or VCC will first need to register through an online portal. Once the registration is approved, the registered EBC or VCC applies for approval to raise equity capital. After the equity is raised, the EBC or VCC applies for the tax credit certificate, and once this application is approved, the tax credit certificate is provided to the EBC or VCC for distribution. EBCs and VCCs cannot guarantee their investors will receive a tax credit certificate, as those certificates are issued on a first come, first served basis. Investments made as of 14 April 2016 may be retroactively eligible for the AITC. However, the business that received the investment must register in this program in Eligible business activities The EBCs are required to be substantially engaged in specific business activities to be eligible for the program. The specific business activities include: Development and operation of a destination tourist resort, a tourist attraction or a tourist service, if 50% or more of the gross revenue is derived from tourists and the resort, attraction or service is located outside of a national park. A tourist is defined as an individual who resides more than 40 km away from the destination or resort. Examples provided by the Government of Alberta include resorts, skiing facilities, amusement and recreation industries, RV parks, campgrounds, zoos and botanical gardens. Research, development and commercialization of proprietary technologies produced within Alberta, including services that are directly associated with the export of the technology. Costs in this category can include operation of a demonstration or prototype facility, marketing to possible customers outside Alberta and attendance at a trade show. Development within Alberta of interactive digital media or video game products for commercial use. The Alberta Government provides examples of eligible products, including digital games, mobile applications, educational interactive media and video game software publishing. However, products that are developed for internal use, used primarily for interpersonal communications or to solicit funds would not be considered eligible. Development and delivery within Alberta of post-production services, including the development of visual effects and digital animation for commercial use and the editing of video and audio, subtitling, closed captioning and the creation and editing of visual and sound effects. Examples provided include music studio recording services, developing and printing commercial motion picture files, editing motion picture films, visual effects, photography and other video-related services. Ineligible business activities The AITC program will not support the following activities: Exploration or extraction of minerals or the operation of a mine. However, a small business that is substantially engaged in research and development of proprietary technologies, processes and products may still be eligible. Financial services, including loans, selling insurance or trading in securities. However, development of technologies that improve the offering of financial services is eligible. Agricultural activities other than non-traditional agriculture activities. Activities such as specialized small crops, livestock and poultry production, or high technology enterprises which are businesses involved in research and technology are eligible. Alberta s Venture Capital Tax Credit 2
3 Retail and commercial services, unless those services relate to the provision of services to tourists and the small business derives more than 50% of its gross revenue from the sale of the services to tourists. Restaurant or food services. Leases of tangible or intangible personal property. The Government of Alberta may exercise its own discretion in reaching a conclusion that the particular business activity meets the requirements of the prescribed regulations. Substantially engaged As noted above, for the corporation to be considered eligible, it must be substantially engaged in the eligible business activity. To be substantially engaged, more than 50% of the entity s assets and expenses must be used in Alberta for the eligible business activity. Also, the entity must have a permanent establishment in Alberta and more than 80% of its assets must be located in Alberta. The value of assets and expenses must be determined in accordance with generally accepted accounting principles. Venture Capital Corporation Tax Credit Registration To be eligible for the AITC, a VCC must apply to the Minister by completing a registration form. All necessary application forms are available at the Alberta investor tax credit website: To register as a VCC, the following requirements must be satisfied: Must be incorporated or continued under the Alberta Business Corporations Act Must not have previously carried on any business Must have equity capital of at least $25,000 Only permitted to issue common shares with no special rights or restrictions, or common shares having special rights relating only to the redemption of the shares by the corporation Articles of incorporation must restrict the business of the corporation to making eligible investments in small businesses and providing business and managerial expertise to small businesses in which an eligible investment has been made Articles of incorporation must state that a majority of the directors of the corporation must be ordinarily resident in Alberta VCC must establish a permanent establishment in Canada within 30 days of being registered and must maintain a permanent establishment in Canada thereafter Eligible investments A VCC is able to make investments in small businesses that meet the following conditions: The business has no more than 100 employees At least 50% of the wages must be paid to employees who regularly report to work in Alberta for small businesses engaged in the export of goods or provision of services outside Alberta, and for all Alberta s Venture Capital Tax Credit 3
4 other small business at least 75% of the wages must be paid to employees who regularly report to work in Alberta The small business must be substantially engaged in the eligible business activities noted above Capital requirements To qualify as a VCC, certain equity capital and investment thresholds must be satisfied: At the end of its first year after registration, a VCC must have equity capital of at least $50,000. At least 40% of the equity capital of the VCC raised in any given year must be invested in eligible investments by the end of its following year, and at least 80% of the equity capital raised in any given year must be invested in eligible investments by the end of its second following year. The required capital must be invested in eligible investments for at least five years after the date of the applicable investment. Prohibited investments A VCC is prohibited from holding investments in small businesses under the following circumstances: VCC cannot hold an investment in a small business if it or affiliates would own, directly or indirectly, shares carrying 50% or more of the voting rights VCC cannot hold an investment in a small business where a major shareholder of the VCC was at any time during the two years preceding the investment a major shareholder of the small business or related to a major shareholder of the small business VCC cannot hold an investment in a small business if the small business or its shareholders has provided a loan, guarantee or any other financial assistance to the VCC or shareholders of the VCC VCC cannot make in an investment in a small business for an amount that exceeds $10 million VCC tax credit certificates The registered VCC must request tax credit certificates on behalf of its investors. The VCC will collect the appropriate information from the investor and complete the online Share Purchase Information Form. Once the application is accepted, the tax credit certificates will be issued to the VCC for distribution to its investors. Annual reporting A VCC is required to file an annual return with the Minister within six months after its fiscal year end that includes the following information: Amount of equity capital raised Aggregate value at cost of investments made Details of any investments disposed of, including the cost of the shares and name of the small business Balance in the investment protection account Aggregate amount of expenses incurred and amounts paid as management fees Alberta s Venture Capital Tax Credit 4
5 Details of any fees paid to the shareholders, officers or directors of the VCC by a small business in which the VCC has an eligible investment Notice of any amendments to the articles of the VCC Amount of all dividends received in respect of its eligible investments Details of any share redemptions of any of its shares and whether the redemption was reported to the Minister or not Details of any expenses paid to any person or group of persons who controlled the VCC Confirmation that the VCC notified the Minister of any prohibited investments held by the VCC Eligible business corporation investor tax credit Registration To be registered as an EBC, a small business must apply to the Minister by completing a registration form. All necessary application forms are available at the Alberta investor tax credit website To register as an EBC, the following requirements must be satisfied: Small business must have no more than 100 employees At least 50% of the wages must be paid to employees who regularly report to work in Alberta for small businesses engaged in the export of goods or provision of services outside Alberta, and for all other small businesses at least 75% of the wages must be paid to employees who regularly report to work in Alberta The small business must be substantially engaged in the activities noted above Prohibited investments An eligible investor is prohibited from holding investments in small businesses under the following circumstances: Eligible investor cannot hold an investment in an EBC if the aggregate of all amounts received by the EBC from all eligible investors exceeds $5 million Eligible investor cannot hold an investment in an EBC if the eligible investor along with related persons own, directly or indirectly, shares carrying 50% or more of the voting rights EBC tax credit certificates Similar to the registered VCC, the EBC must request tax credit certificates on behalf of its investors. The EBC will collect the appropriate information from the investor and complete the online Share Purchase Information Form. Once the application is accepted, the tax credit certificates will be issued to the EBC for distribution to its investors. Alberta s Venture Capital Tax Credit 5
6 Annual reporting An EBC is required to file an annual return with the Minister within six months after its fiscal year end that includes the following information: Copy of securities register Copy of most recent financial statements that have been reviewed by a chartered professional accountant Copy of most recent annual return filed with the Registrar of Corporations Learn more For more information on the above measures or any other topics which may be of concern, please contact your EY or EY Law advisor or one of the following professionals: Dean Radomsky dean.w.radomsky@ca.ey.com Tom Flaig tom.flaig@ca.ey.com Alberta s Venture Capital Tax Credit 6
7 EY Assurance Tax Transactions Advisory About EY EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities. EY refers to the global organization and may refer to one or more of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com. About EY s Tax Services EY s tax professionals across Canada provide you with deep technical knowledge, both global and local, combined with practical, commercial and industry experience. We offer a range of tax-saving services backed by in-depth industry knowledge. Our talented people, consistent methodologies and unwavering commitment to quality service help you build the strong compliance and reporting foundations and sustainable tax strategies that help your business achieve its potential. It s how we make a difference. For more information, visit ey.com/ca/tax. About EY Law LLP EY Law LLP is a national law firm affiliated with EY in Canada, specializing in tax law services, business immigration services and business law services. For more information, visit eylaw.ca. About EY Law s Tax Law Services EY Law has one of the largest practices dedicated to tax planning and tax controversy in the country. EY Law has experience in all areas of tax, including corporate tax, human capital, international tax, transaction tax, sales tax, customs and excise. For more information, visit eylaw.ca/taxlaw Ernst & Young LLP. All Rights Reserved. A member firm of Ernst & Young Global Limited. This publication contains information in summary form, current as of the date of publication, and is intended for general guidance only. It should not be regarded as comprehensive or a substitute for professional advice. Before taking any particular course of action, contact EY or another professional advisor to discuss these matters in the context of your particular circumstances. We accept no responsibility for any loss or damage occasioned by your reliance on information contained in this publication. ey.com/ca
Tax Alert Canada Alberta budget
2018 Issue No. 13 22 March 2018 Tax Alert Canada Alberta budget 2018-19 EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They act as technical
More informationAlberta Investor Tax Credit Program Published by Alberta Economic Development and Trade January
Alberta Investor Tax Credit Program Published by Alberta Economic Development and Trade January 2019 www.alberta.ca/alberta-investor-tax-credit.aspx 2019 Government of Alberta. This publication is issued
More informationTax Alert Canada. Manitoba budget
2017 Issue No. 17 12 April 2017 Tax Alert Canada Manitoba budget 2017-18 EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They act as technical
More informationTax Alert Canada. Manitoba budget Business tax measures. Corporate tax rates
2019 Issue No. 6 7 March 2019 Tax Alert Canada Manitoba budget 2019 20 EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They act as technical
More informationTax Alert Canada Private company tax reform: Personal tax increases on noneligible dividends scheduled for 2018 and 2019
Issue No. 51 23 November Tax Alert Canada Private company tax reform: Personal tax increases on noneligible dividends scheduled for and EY Tax Alerts cover significant tax news, developments and changes
More informationTax Alert Canada. British Columbia budget
2017 Issue No. 5 22 February 2017 Tax Alert Canada British Columbia budget 2017-18 EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They
More informationTax Alert Canada Nova Scotia budget
2018 Issue No. 12 21 March 2018 Tax Alert Canada Nova Scotia budget 2018-19 EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They act as
More informationTax Alert Canada Saskatchewan budget
2018 Issue No. 20 10 April 2018 Tax Alert Canada Saskatchewan budget 2018-19 EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They act
More informationTax Alert Canada Prince Edward Island budget
2018 Issue No. 19 9 April 2018 Tax Alert Canada Prince Edward Island budget 2018-19 EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They
More informationWe cannot continue to spend beyond our means, and we can no longer keep raising taxes on hardworking New Brunswickers.
2019 Issue No. 10 20 March 2019 Tax Alert Canada New Brunswick budget 2019 20 EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They act
More informationTax Alert Canada. Duty relief, duty drawback, and remission available for Canadian surtaxes on certain US originating goods.
2018 Issue No. 29 19 July 2018 Tax Alert Canada Duty relief, duty drawback, and remission available for Canadian surtaxes on certain US originating goods EY Tax Alerts cover significant tax news, developments
More informationTax Alert Canada Ontario budget
2018 Issue No. 17 28 March 2018 Tax Alert Canada Ontario budget 2018-19 EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They act as technical
More informationTax Alert Canada Manitoba budget
2018 Issue No. 10 13 March 2018 Tax Alert Canada Manitoba budget 2018-19 EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They act as technical
More informationTax Alert Canada. Alberta budget
2016 Issue No. 22 15 April 2016 Tax Alert Canada Alberta budget 2016-17 EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They act as technical
More informationThe following is a summary of the measures included in the 8 September 2017 GST/HST legislative proposals.
2017 Issue No. 39 13 September 2017 Tax Alert Canada Finance releases GST/HST draft legislation EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses.
More informationThe NWMM includes the following business tax measures announced in the 2016 federal budget:
2016 Issue No. 24 19 April 2016 Tax Alert Canada Budget implementation NWMM tabled in the House of Commons EY Tax Alerts cover significant tax news, developments and changes in legislation that affect
More informationTax Alert Canada. Finance tables NWMM for tax measures and adjusts proposed filing deadline for Form T1134s
2018 Issue No. 38 29 October 2018 Tax Alert Canada Finance tables NWMM for tax measures and adjusts proposed filing deadline for Form T1134s EY Tax Alerts cover significant tax news, developments and changes
More informationPOLICY STATEMENT Small Business Venture Capital Act (SBVCA) s. 10 of the Act, s. 11 of the Regulations
ELIGIBLE SMALL BUSINESSES AND BUSINESS CORPORATIONS POLICY STATEMENT Small Business Venture Capital Act (SBVCA) s. 10 of the Act, s. 11 of the Regulations INTRODUCTION This policy statement is intended
More informationTax Alert Canada. Investment income earned through a private corporation
2015 Issue No. 59 11 December 2015 Tax Alert Canada Investment income earned through a private corporation EY Tax Alerts cover significant tax news, developments and changes in legislation that affect
More informationInterested parties are invited to submit comments on the legislative proposals by 15 November 2016.
2016 Issue No. 41 20 September 2016 Tax Alert Canada Finance releases draft income tax technical amendments EY Tax Alerts cover significant tax news, developments and changes in legislation that affect
More informationTax Alert Canada British Columbia budget
2018 Issue No. 6 20 February 2018 Tax Alert Canada British Columbia budget 2018-19 EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They
More informationOver 21,000 individual submissions were made to the proposals, including some that were several hundred pages long.
2017 Issue No. 48 25 October 2017 Tax Alert Canada Private company tax reform: where are we now? EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses.
More informationTax Alert Canada. Changes to GST/HST VDP revised
2017 Issue No. 54 19 December 2017 Tax Alert Canada Changes to GST/HST VDP revised EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They
More informationTax Alert Canada. US sales and use tax ramifications for Canadian e-commerce vendors following US Supreme Court judgment.
2018 Issue No. 25 9 July 2018 Tax Alert Canada US sales and use tax ramifications for Canadian e-commerce vendors following US Supreme Court judgment EY Tax Alerts cover significant tax news, developments
More informationUnderstanding ASPE. Section 3840, Related Party Transactions
Understanding ASPE Section 3840, Related Party Transactions Four questions for private business owners: Related Party Transactions A better working world begins with asking better questions. Better questions
More informationFor overview of the key elements of the ESTMA, refer to our earlier Tax Alerts, and
2015 Issue No. 49 17 September 2015 Tax Alert Canada Natural Resources Canada releases extractive sector transparency reporting guidance iti l l d b t i t d d EY Tax Alerts cover significant tax news,
More informationThe proposal documents contained 137 pages of material and potentially represent a change in tax policy towards private companies.
2017 Issue No. 33 31 July 2017 Tax Alert Canada Private company insights: federal tax reform EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses.
More informationTax Alert Canada. Changes to income tax VDP revised. Overview
2017 Issue No. 53 19 December 2017 Tax Alert Canada Changes to income tax VDP revised EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses.
More informationTax Alert Canada. Federal Court of Appeal reaffirms the existence of common interest privilege outside a litigation context
2018 Issue No. 11 19 March 2018 Tax Alert Canada Federal Court of Appeal reaffirms the existence of common interest privilege outside a litigation context EY Tax Alerts cover significant tax news, developments
More informationGradual reduction of the Health Services Fund (HSF) contribution rate for all small and medium-sized businesses (SMBs)
2018 Issue No. 16 27 March 2018 Tax Alert Canada Québec budget 2018-19 EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They act as technical
More informationTax Alert Canada. FCA finds GAAR does not apply to post-acquisition PUC step-up planning: Univar Holdco Canada ULC v. The Queen, 2017 FCA 207
2017 Issue No. 47 19 October 2017 Tax Alert Canada FCA finds GAAR does not apply to post-acquisition PUC step-up planning: Univar Holdco Canada ULC v. The Queen, 2017 FCA 207 EY Tax Alerts cover significant
More informationUnderstanding ASPE. Section 1506, Accounting Changes
Understanding ASPE Section 1506, Accounting Changes Seven questions for private business owners: Accounting Changes A better working world begins with better questions. Asking better questions leads to
More informationTax Alert Canada. Ontario budget
2017 Issue No. 19 27 April 2017 Tax Alert Canada Ontario budget 2017-18 EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They act as technical
More informationWelcome news for the charitable sector in federal budget Donations related to the disposition of private corporation shares or real estate
2015 Issue No. 29 27 April 2015 Tax Alert Canada Welcome news for the charitable sector in federal budget 2015 EY Tax Alerts cover significant tax news, developments and changes in legislation that affect
More informationOntario budget
2015 Issue No. 28 23 April 2015 Tax Alert Canada Ontario budget 2015 16 EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They act as technical
More informationTax Alert Canada. Highlights from the CRA s 2017 APA Program Report. High number of APAs completed; closing inventory down
2018 Issue No. 28 18 July 2018 Tax Alert Canada Highlights from the CRA s 2017 APA Program Report EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian
More informationQuebec budget After six consecutive years of deficits [ ] Quebec is finally returning to budget balance in
2015 Issue No. 20 26 March 2015 Tax Alert Canada Quebec budget 2015-16 After six consecutive years of deficits [ ] Quebec is finally returning to budget balance in 2015-16. EY Tax Alerts cover significant
More informationTax Alert Canada. Quebec 2014 fall economic update
2014 Issue No. 60 4 December 2014 Tax Alert Canada Quebec 2014 fall economic update EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They
More informationTax Alert Canada. Trade compliance verification list update. Background
2018 Issue No. 30 25 July 2018 Tax Alert Canada Trade compliance verification list update EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses.
More informationTax Alert Canada. BC tables LNG income tax legislation. Introduction
2014 Issue No. 55 22 October 2014 Tax Alert Canada BC tables LNG income tax legislation EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses.
More informationTax Alert Canada. Trade compliance verification list update. Background
2017 Issue No. 35 31 August 2017 Tax Alert Canada Trade compliance verification list update EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses.
More informationA fundamental consideration in virtually all Canadian private company sale transactions is whether the parties wish to structure the deal as either:
2016 Issue No. 16 4 April 2016 Tax Alert Canada Federal budget 2016-17 consequences for Canadian private company sale transactions EY Tax Alerts cover significant tax news, developments and changes in
More informationA broad-based charge on fossil fuels, or carbon tax, payable by fuel producers and distributors; and
2018 Issue No. 2 18 January 2018 Tax Alert Canada Canada releases federal carbon tax pricing proposals EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian
More informationEY Wealth Insights Canada
2018 Issue No. 1 January 2018 EY Wealth Insights Canada Preparing for retirement: your RRSP and you After a lifetime of planning, one of the most important financial decisions you will make will be what
More informationTax Alert Canada. TCC rejects mark-to-market accounting for option contracts. The decision
2015 Issue No. 42 24 June 2015 Tax Alert Canada TCC rejects mark-to-market accounting for option contracts EY Tax Alerts cover significant tax news, developments and changes in legislation that affect
More informationThe relevant statutory regime
2017 Issue No. 24 05 June 2017 Tax Alert Canada FCA affirms release of trapped limited partnership losses in multi-tiered partnerships EY Tax Alerts cover significant tax news, developments and changes
More informationTax Alert Canada. Changes to the large business simplified method and clarification for its application to expenses incurred before 1 January 2014
2013 Issue No. 37 31 July 2013 Tax Alert Canada Changes to the large business simplified method and clarification for its application to expenses incurred before 1 January 2014 EY Tax Alerts cover significant
More informationFinding the capital you need to help your private business grow
Finding the capital you need to help your private business grow As your private business grows, your capital needs will evolve. Whether it s introducing new products or services, expanding into new markets,
More informationCanada: Ontario issues budget
29 March 2018 Global Tax Alert News from Americas Tax Center Canada: Ontario issues budget 2018-19 EY Global Tax Alert Library The EY Americas Tax Center brings together the experience and perspectives
More informationTax Alert Canada. Intra-group services and section 247 of the Income Tax Act
2015 Issue No. 16 3 March 2015 Tax Alert Canada Intra-group services and section 247 of the Income Tax Act EY Tax Alerts cover significant tax news, developments and changes in legislation that affect
More informationTax Alert Canada. Proposed changes to section 55. Background. Current section 55
2015 Issue No. 35 8 June 2015 Tax Alert Canada Proposed changes to section 55 EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They act
More informationFrench Government submits draft bill on digital services tax to Council of Ministers
8 March 2019 Indirect Tax Alert French Government submits draft bill on digital services tax to Council of Ministers NEW! EY Tax News Update: Global Edition EY s new Tax News Update: Global Edition is
More informationAITC: Eligible Business Corporation (EBC) Registration
AITC: Eligible Business Corporation (EBC) Registration Note: These forms are samples only and intend to show the type of information applicants will be required to provide as part of their application.
More informationCanada: British Columbia issues budget update
13 September 2017 Global Tax Alert News from Americas Tax Center Canada: British Columbia issues budget update 2017 18 EY Global Tax Alert Library The EY Americas Tax Center brings together the experience
More informationCanada: British Columbia issues budget
23 February 2017 Global Tax Alert News from Americas Tax Center Canada: British Columbia issues budget 2017-18 EY Global Tax Alert Library The EY Americas Tax Center brings together the experience and
More informationNot-for-profit. New criteria for recognition of intangible assets by a not-for-profit organization. Background. May 2010
May 2010 Not-for-profit New criteria for recognition of intangible assets by a not-for-profit organization Background In February 2008, the Accounting Standards Board amended Canadian Institute of Chartered
More informationGlobal Tax Alert. Canada Alberta increases corporate and personal income tax rates. Executive summary. Detailed discussion
22 June 2015 Global Tax Alert News from Americas Tax Center EY Americas Tax Center The EY Americas Tax Center brings together the experience and perspectives of over 10,000 tax professionals across the
More informationTourism tax. EY Tax Alert. I. Date of coming into operation II. Tourism Tax Regulations 2017
Special Edition August 2017 - Issue 05 EY Tax Alert Tourism tax I. Date of coming into operation II. Tourism Tax Regulations 2017 Gazette Order regarding the effective date of coming into operation of
More informationTax Alert Canada. Canada and the US sign intergovernmental agreement to implement FATCA
2014 Issue No. 9 10 February 2014 Tax Alert Canada Canada and the US sign intergovernmental agreement to implement FATCA EY Tax Alerts cover significant tax news, developments and changes in legislation
More informationIFRS adopted by the European Union. Based on International Financial Reporting Standards in issue at 22 December 2015
IFRS adopted by the European Union Based on International Financial Reporting Standards in issue at 22 December 2015 1. Published International Financial Reporting Standards (IFRS) The table below provides
More informationMultinational life insurers will now be taxed on Canadian risk in their foreign branches
2017 Issue No. 12 24 March 2017 Tax Alert Canada Federal budget 2017 18 Targeted measures for FSOs EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian
More informationALI-ABA Audio Seminar. Moving from GAAP to IFRS (International Financial Reporting Standards) February 18, 2009 Telephone Seminar/Audio Webcast
85 ALI-ABA Audio Seminar Moving from GAAP to IFRS (International Financial Reporting Standards) February 18, 2009 Telephone Seminar/Audio Webcast Good Group (International) Limited (illustrative financial
More informationAt last, the omnibus technical bill (C-48) is enacted
2013 Issue No. 28 27 June 2013 Tax Alert Canada At last, the omnibus technical bill (C-48) is enacted Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian
More informationAdoption of new auditor s reports
Adoption of new auditor s reports AASB and PCAOB approve new standards July 2017 What you need to know The Auditing and Assurance Standards Board (AASB) approved a package of standards, effective in 2018,
More informationIFRS adopted by the European Union
IFRS adopted by the European Union IFRS standards and amendments issued by the IASB and endorsed by the as at 31 December 2016 January 2017 1. Published International Financial Reporting Standards The
More informationCanadian personal tax increases on non-eligible dividends scheduled for 2018 and 2019
27 November Global Tax Alert News from Americas Tax Center Canadian personal tax increases on non-eligible dividends scheduled for and EY Global Tax Alert Library The EY Americas Tax Center brings together
More informationOntario budget Deficit and Ontario debt outlook. Table A Projections of Ontario budgetary deficit ($ billions) ($ billions)
2014 Issue No. 39 14 July 2014 Tax Alert Canada Ontario budget 2014 15 EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They act as technical
More informationCanada: Nunavut issues budget
30 May 2018 Global Tax Alert News from Americas Tax Center Canada: Nunavut issues budget 2018-19 NEW! EY Tax News Update: Global Edition EY s new Tax News Update: Global Edition is a free, personalized
More informationCanada: Saskatchewan issues budget
11 April 2018 Global Tax Alert News from Americas Tax Center Canada: Saskatchewan issues budget 2018-19 EY Global Tax Alert Library The EY Americas Tax Center brings together the experience and perspectives
More informationIFRS 12. Disclosure of Interests in Other Entities
IFRS 12 Disclosure of Interests in Other Entities Agenda Background and objectives Main changes to disclosure requirements Summarised financial information Other disclosure requirements for subsidiaries,
More informationTax Alert Canada. Insurance swaps and offshore banking arrangements: Bill C-43 (2014) Insurance swaps
2014 Issue No. 56 28 October 2014 Tax Alert Canada Insurance swaps and offshore banking arrangements: Bill C-43 (2014) EY Tax Alerts cover significant tax news, developments and changes in legislation
More information1. Published International Financial Reporting Standards
1. Published International Financial Reporting Standards The table below provides an overview of the status of the European Union () endorsement process of IFRS standards and amendments issued by the International
More informationCanada amends taxation of investment income earned through a private corporation
14 December 2015 Global Tax Alert News from Americas Tax Center Canada amends taxation of investment income earned through a private corporation EY Global Tax Alert Library The EY Americas Tax Center brings
More informationTax Alert Canada. Invoices of accommodation: Important Federal Court of Appeal decision in Salaison Lévesque Inc. Background
2015 Issue No. 3 21 January 2015 Tax Alert Canada EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They act as technical summaries to keep
More informationFinance Canada releases revised income splitting measures
20 December 2017 Global Tax Alert News from Americas Tax Center Finance Canada releases revised income splitting measures EY Global Tax Alert Library The EY Americas Tax Center brings together the experience
More informationCanada: Ontario Ministry of Finance seeks input on proposals to facilitate compliance with the Land Transfer Tax Act
24 July 2017 Indirect Tax Alert News from Americas Tax Center Canada: Ontario Ministry of Finance seeks input on proposals to facilitate compliance with the Land Transfer Tax Act EY Global Tax Alert Library
More information2017 CT S 1055, Introduced
2017 CT S 1055, Introduced Connecticut SUMMARY: Concerns stranded tax credits and strategic economic development; establishes additional methods for businesses to exchange certain stranded tax credits
More informationA snapshot of GAAP differences between IPSAS and IFRS. April 2013
A snapshot of GAAP differences between IPSAS and IFRS April 2013 Introduction for these governments. Many governments are exploring the adoption of accrual-based accounting frameworks in order to improve
More informationMP-3 Issued: October 2015 Revised: July 19, 2017 SASKATCHEWAN MANUFACTURING AND PROCESSING EXPORTER TAX INCENTIVE
Information Bulletin MP-3 Issued: October 2015 Revised: July 19, 2017 Was this bulletin useful? Click here to complete our short READER SURVEY SASKATCHEWAN MANUFACTURING AND PROCESSING EXPORTER TAX INCENTIVE
More informationTanzania issues Finance Act, 2018
11 July 2018 Global Tax Alert Tanzania issues Finance Act, 2018 NEW! EY Tax News Update: Global Edition EY s new Tax News Update: Global Edition is a free, personalized email subscription service that
More informationBangladesh Transfer Pricing Regulations Finance Act, 2014
30 October 2014 Global Tax Alert News from Transfer Pricing EY Global Tax Alert Library Access both online and pdf versions of all EY Global Tax Alerts. Copy into your web browser: http://www.ey.com/gl/en/
More informationCanada: Revenu Québec implements new mandatory certificate for personnel placement agencies and subcontractors
23 June 2016 Global Tax Alert News from Americas Tax Center Canada: Revenu Québec implements new mandatory certificate for personnel placement agencies and subcontractors EY Global Tax Alert Library The
More informationCanada: British Columbia issues budget
21 February 2018 Global Tax Alert News from Americas Tax Center Canada: British Columbia issues budget 2018-19 EY Global Tax Alert Library The EY Americas Tax Center brings together the experience and
More informationTax Alert Canada. Ontario budget Deficit and Ontario debt outlook
2016 Issue No. 8 25 February 2016 Tax Alert Canada Ontario budget 2016 17 EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They act as
More informationCSA issues revisions to Staff Notice on non-gaap financial measures
2016 Issue No. 1 21 January 2016 Financial Reporting Alert For publicly accountable entities Our Financial Reporting Alerts cover significant news, regulatory developments and changes that affect Canadian
More informationCanada: British Columbia introduces employer health tax legislation
25 October 2018 Indirect Tax Alert News from Americas Tax Center Canada: British Columbia introduces employer health tax legislation NEW! EY Tax News Update: Global Edition EY s new Tax News Update: Global
More informationOutline of tax reforms to stimulate investment
31 October 2013 Japan tax newsletter Ernst & Young Tax Co. Outline of tax reforms to stimulate investment Contents 1. Early repeal of special reconstruction tax 2. Tax incentives to promote capital expenditure
More informationOntario budget
2014 Issue No. 32 1 May 2014 Tax Alert Canada Ontario budget 2014 15 EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses. They act as technical
More informationHow the new revenue standard will affect media and entertainment entities. February 2017
How the new revenue standard will affect media and entertainment entities February 2017 Agenda Overview Licenses of intellectual property (IP) Other considerations Page 2 Overview New revenue recognition
More informationEY Slovenia. Tax Alert February. Overview of the Proposed Measures to Restructure Tax Burdens. Tax Alert. 28 February 2019
28 February 2019 EY Slovenia Tax Alert Tax Alert February Overview of the Proposed Measures to Restructure Tax Burdens On Tuesday, 26 February 2019, the Ministry of Finance of the Republic of Slovenia
More informationMINISTRY OF TOURISM, CULTURE AND SPORT
THE ESTIMATES, 1 The Ministry of Tourism, Culture and Sport provides leadership for these fast-growing sectors of the provincial economy which are fundamental to the prosperity and quality of life of Ontario
More informationHow well rehearsed are you for the public stage? Steps to consider before issuing an IPO
How well rehearsed are you for the public stage? Going public involves intense scrutiny and analysis from investors and the competitive marketplace. As a part of an initial public offering (IPO), you need
More informationEY International Financial Reporting Standards (IFRS) update. Bahrain, 7 May 2018
EY International Financial Reporting Standards (IFRS) update Bahrain, 7 May 2018 Contents Introduction 04 Topics 05 Speaker 07 Key information 08 Registration form 09 Introduction Entities reporting under
More informationDriving integrated ÕfYf[aYd Yf\ kg[ayd j]lmjfk
Driving integrated An integrated measurement approach The global business landscape is undergoing a perceptible shift. regulation (on one hand) and social and environmental impacts (on the other hand)
More informationF INANCIAL S TATEMENTS. Houston Endowment Inc. Years Ended December 31, 2014 and 2013 With Report of Independent Auditors.
F INANCIAL S TATEMENTS Years Ended December 31, 2014 and 2013 With Report of Independent Auditors Ernst & Young LLP Financial Statements Years Ended December 31, 2014 and 2013 Contents Report of Independent
More informationGlobal Tax Alert. Zambia issues 2015 Budget proposals. Executive summary. Detailed discussion
17 October 2014 EY Library Access both online and pdf versions of all EY Global Tax Alerts. Copy into your web browser: http://www.ey.com/gl/en/ Services/Tax/International- Tax/Tax-alert-library#date Zambia
More informationValue Added Tax (VAT) seminar. Manama, 6 February 2018
Value Added Tax (VAT) seminar Manama, 6 February 2018 Contents Introduction 04 Agenda 05 Key information 07 Registration form 08 Introduction Value-added tax and excise duties in Bahrain: are you ready?
More informationCanada: Québec announces QST and e-commerce measures
5 April 2018 Indirect Tax Alert News from Americas Tax Center Canada: Québec announces QST and e-commerce measures EY Global Tax Alert Library The EY Americas Tax Center brings together the experience
More informationFinance for non-finance managers. Delhi Bengaluru
Finance for non-finance managers Delhi Bengaluru Knowledge of the financial aspects, which helps in decision making, is the key to success. It is important for a senior professional to be conversant with
More informationCould US tax reform be a catalyst for disruption for Canadian businesses?
Could US tax reform be a catalyst for disruption for Canadian businesses? In the wake of the November elections that gave Republicans control of the White House and both houses of Congress, the chances
More information