The Russian tax authority has accused PricewaterhouseCoopers of providing “false audits” to the former oil giant Yukos. I’m sure we’ll find out sooner or later whether these accusations have any merit, but for the time being any government institution in Russia is most definitely not getting the benefit of my doubt. Putin and his regimeContinue reading “PricewaterhouseCoopers accused of ‘false’ auditing for Yukos”
Tag Archives: government
Income trust standards (or lack thereof) and risk
So everyone and their grandpa is still upset about the recent change to income trusts introduced by the Canadian federal government. The change was, of course, to implement a tax on trust income similar to corporate income tax. The outrage epicentre is Bay Street, Canada’s version of Wall Street, in the heart of the financialContinue reading “Income trust standards (or lack thereof) and risk”
Income trusts in Canada to be taxed after all
The Canadian Federal government announced on Halloween that income trusts will now be subject to income tax of 34% in line with corporate income taxes in the country. You might remember that many corporations were converting or considering conversion to income trusts to take advantage of the flow-through nature of the structure recently. I arguedContinue reading “Income trusts in Canada to be taxed after all”
Canadian Finance Minister to address Chartered Accountants
A press release by the Canadian Federal government: The Honourable Jim Flaherty, Minister of Finance, will be a guest speaker at the Canadian Institute of Chartered Accountants Tax Symposium on Monday, October 16, 2006. Minister Flaherty will discuss the steps Canada’s New Government is taking to reduce the tax burden and create a more competitiveContinue reading “Canadian Finance Minister to address Chartered Accountants”
Simpler corporate income tax filing requirements
An agreement reached between the Canadian Federal government and the provincial Ontario government will simplify corporate taxes by 2009. The Ontario tax return, known as the CT23, will be amalgamated with the Federal return. Ontario Finance Minister Greg Sorbara had this on the much-lauded move: “Businesses have been asking us to reduce administrative overlap andContinue reading “Simpler corporate income tax filing requirements”