Canada

North America | 30 Jan 17

Details of bank accounts belonging to more than 315,000 Canadian residents were shared with the US Internal Revenue Service (IRS) in 2016 under the Fatca agreement, more the double the previous year.

North America | 21 Dec 16

Canadian taxpayers wanting to use voluntary disclosure programmes (VDP) should have to identify advisers who helped them avoid paying tax, the Canada Revenue Agency’s (CRA) Offshore Compliance Advisory Committee has recommended.

Companies | 7 Nov 16

CI Financial Corp is to acquire an 80% stake in Australian investment fund manager Grant Samuel Funds Management (GSFM), in a move that will see the Canadian wealth manager also gain access to New Zealand.

Products | 14 Jun 16

To be introduced in the UK in April 2017, the Lifetime Isa (Lisa) is intended to incentivise people to save for their first home, their retirement, or both. But research published by the independent Pensions Policy Institute (PPI), sponsored by Royal London, compares the tax-free savings scheme with its international counterparts and highlights some challenges that may arise.

North America | 14 Apr 16

Canada’s Revenue Agency (CRA) has audited 3,000 electronic funds transfers to the Isle of Man, made by around 800 Canadian taxpayers totalling C$860m (£472.2m, $672.5m, €593.4m).