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Newly proposed changes of significance to Canada Revenue Agency’s (“CRA”) Voluntary Disclosures Program (“VDP”) soon coming into effect

Overview On September 10, 2025, the CRA released a new version of its VDP Information Circular, IC00-1R7[1], along with the new GST/HST Memorandum 16-5-1[2] (collectively referred to as the “new Programs”). The updated policies will apply to disclosures received on or after October 1, 2025, ...
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reporting compliance on tax-favoured foreign trusts

The IRS issues long-awaited good news for US persons regarding reporting and filing requirements for Canadian tax-favored foreign trusts

Under the Internal Revenue Code (IRC), certain US persons were required to file annual returns with the IRS for transactions with, and ownership of, certain tax-favored retirement and non-retirement trusts established in a jurisdiction outside of the US. The most commonly agreed upon Canadian plans ...
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US Tax Filing Deadline Extension

Extending the U.S. Tax Filing Deadline

Mention the date April 15th to a U.S. person and their first thought probably turns to taxes. Individuals who are required to file a US income tax return are generally required to file their return on or before April 15th provided that the date falls ...
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The member firms of Andersen in Canada focus on Canadian, international and Canada-U.S. cross-border tax matters. With offices across Canada, our tax professionals work with a broad range of businesses and individual clients to develop innovative tax solutions for a diverse range of issues. Our senior leaders and many of our professional staff have extensive experience in Canadian, international, U.S. and cross-border tax matters with major international accounting firms, as well as practical experience working with businesses and individuals.