Canada updates declaration of tax residence process for individuals

On 22 November 2018, after the statement on Canada’s commitment to combating offshore tax evasion and aggressive tax avoidance (Link-Blog), the Canada Revenue Agency (“CRA”) released an updated version of form RC518, which is the declaration of tax residence for individuals form (Link). For the purpose of the Foreign Account Tax Compliance Act (“FATCA”) and the Common Reporting Standard (“CRS”), individuals may populate the form to identify the account holder (section 1) and to declare the tax residence (section 2).

Leave a reply

Your email address will not be published. Required fields are marked *

/* */