Canada: Proposed tax measures in Bill C-47 and implications for non-resident VAT
The Canadian House of Commons has recently considered Bill No. C-47, which proposes several tax measures outlined in the March budget. Among the measures are provisions that may affect non-residents, including the implementation of model reporting rules for digital platforms, clarifying the applicability of goods and services tax/harmonized sales tax (GST/HST) relief to the international transportation of money, and amending the definition of financial services to clarify the tax treatment of payment card clearing services.
Additionally, the bill proposes changes to the treatment of gains as business income for the disposition of a right to acquire Canadian housing property, the exemption of specified income earned by the Band Class Settlement Trust, and the exclusion of digital currency mining from GST/HST.
Non-residents should keep an eye on these proposed measures as they could impact their tax obligations in Canada.
Source: parl.ca
