New Compliance Guidance for CRS and FATCA

The Canada Revenue Agency (CRA) recently posted updated guidance relating to the implementation of (and intersection between) the Canadian Common Reporting Standard (CRS) and the U.S. Foreign Account Tax Compliance Act (FATCA).

The guidance is meant to streamline the tax information collection and exchange requirements of the two regimes, and is being heralded by industry participants as beneficial to both financial



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