The Department of Finance and the Canada Revenue Agency (CRA) have requested input from business on the sources of unnecessary paper or compliance work in the goods and service tax and excise tax systems, as well as any specific reporting or other requirements relating to the tax system which might reasonably be eliminated.
Some ways the reduction in paper burden might be accomplished include:
- Consolidating or combining information obligations in existing regulations
- Reducing the number of information obligations contained in the regulations
- Eliminating information obligations which cannot be adequately justified or which do not meet the intended policy objectives
- Eliminating or redrafting obligations whose costs exceed the benefits
- Harmonizing information reporting obligations across jurisdictions and/or with other federal departments or agencies
In addition to the recommendations themselves, the Department of Finance and the Canada Revenue Agency have indicated that they are interested in knowing in the qualitative aspects of such recommendations, and the implications they will have on various parties involved. In particular, they are interested in whether or not the recommendation would have an impact on federal government revenue, what the administrative implications of the recommendations may be, whether the recommendation would impact the integrity of the tax system, etc.
The consultation provides an opportunity for businesses doing business with Canada and in Canada to communicate whats to make their job easier - how nice is that?
A report is to be presented to Finance and the CRA by mid-June - so there isn't much time to make known areas where businesses would like to communicate with the CRA electronically.
If you would like to remain anonymous, your suggestions may be made through commodity tax layers such as Cyndee Todgham Cherniak (416-307-4168).