Common Reporting Standard Legislative Proposals Published in Canada

Common Reporting Standard Legislative Proposals Published in Canada

On July 29, 2016, the Department of Finance Canada released for public comment a package of draft legislative proposals and explanatory notes relating to a number of measures announced in the 2016 federal budget, which included, amongst other proposals, the introduction of a Common Reporting Standard penalty and relating consequential amendments to the Income Tax Act (the ITA).

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EU Fourth Money Laundering Directive – Getting Ready

EU Fourth Money Laundering Directive – Getting Ready

Anti-money laundering remains a top priority for the FCA in 2016/17, as emphasised in its latest anti-money laundering report. The regulator will be focusing its supervision on higher-risk firms and use its enforcement powers where it identifies firms with material weaknesses in their money laundering controls.

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EBA Consults On Strong Customer Authentication and Secure Communications Under PSD2

EBA Consults On Strong Customer Authentication and Secure Communications Under PSD2

The European Banking Authority (EBA) has published a consultation paper on the draft regulatory technical standards specifying the requirements on strong customer authentication and common and secure communication under the revised Payment Services Directive (PSD2). 

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EBA Opinion On Commission Proposal to Bring Virtual Currency Entities into Scope of 4MLD

EBA Opinion On Commission Proposal to Bring Virtual Currency Entities into Scope of 4MLD

The European Banking Authority (EBA) has published an opinion welcoming the European Commission’s (the Commission) proposal to bring virtual currency exchange platforms and custodian wallet providers within the scope of the Fourth Money Laundering Directive (4MLD).

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11 Tips for Small Business Owners for Keeping Canada Revenue Agency Collections Officers Happy

By | The HST Blog | August 15, 2016
11 Tips for Small Business Owners for Keeping Canada Revenue Agency Collections Officers Happy

Recently, I was contacted by a small business owner who had an unpleasant conversation with a Canada Revenue Agency (“CRA”) collections officer about an outstanding goods and services tax/harmonized sales tax (“GST/HST”) assessment against his small company (of which he was a director). 

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