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Post-Panama Papers: What In-House Legal Counsel Needs to Know About Canada’s Plans to Combat Aggressive Tax Planning and Profit Shifting

Where Fasken Martineau
333 Bay St., Suite 2400
Bay Adelaide Centre
Toronto, ON
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The Panama Papers and the Isle of Man scandals have motivated governments to more aggressively protect their tax base. Over 100 jurisdictions, including the G20, are cracking down on tax avoidance and tax evasion. The Canadian government is leading the pack and has taken concrete steps to curb profit shifting and tax offshore unreported income. The Canada Revenue Agency has signaled that it will increase its focus on transactions and corporate structures that cross the border and to expect an increase in transfer pricing challenges. This current political climate is going to significantly impact Canadian corporations: tax planning that was not considered aggressive a few years ago may end up on the front page of today’s newspaper, resulting in both legal and public relations repercussions.

This session will inform in-house legal counsel of what they need to pay attention to in the tax world so that they can be proactive in their particular organization and manage the potential risks and fallout. Topics to be discussed will include:

  • Recent developments in Canadian tax governance
  • The types of tax challenges expected
  • Corporate structures and transactions that may attract the Canada Revenue Agency’s attention
  • How to best organize transaction documents and information to avoid future audit pitfalls
  • The role that in-house legal counsel can play before and after the Canada Revenue Agency comes calling

This program is eligible for up to 1 Substantive Hour