In the current environment, the Canadian and global tax landscape is changing at an unprecedented rate and companies are finding it increasingly difficult to monitor and comply with complex proposals, and to realize shareholder value from cash tax savings and incentives.
Private company proposals, U.S. tax reform, tightening immigration policies, renegotiation of NAFTA, and OECD’s BEPS initiatives are creating a perfect storm. Government deficits in many jurisdictions, including Canada and abroad, are prompting increased tax enforcement and new measures as each country looks for their share of the pie. All of the potential changes and uncertainty regarding tax policy can be frustrating to companies and business owners.
Led by Ian Sherman, Ottawa Tax Market Leader and National Leader, Government & Public Sector Tax, EY’s Ottawa tax services team, is advising companies and business owners in the wake of uncertainty, whether it’s:
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- understanding the impact of the Canadian private company tax proposals;
- discussing indirect tax (HST) and U.S. sales tax hot topics;
- helping businesses understand the tax considerations in growing their business in the US or globally;
- managing the increased scrutiny of cross-border business travel and immigration and mobility requirements; and
- assisting to secure government incentives to fund R&D or capital projects.
Says Sherman, “While there continues to be uncertainty, one thing for certain is that there will be change.”
Darrell Bontes, Business and International Tax Partner, suggests, “Companies shouldn’t wait to understand the potential impact of changes. While the tax burden may increase in some instances, companies and business owners should still be looking for opportunities to effectively tax plan, access government incentives and stay apprised of hot topics that could affect their business whether they plan to grow in Canada, in the U.S. or globally.”
Chris Jerome, Private Client Services Tax Partner, comments, “The state of uncertainty between July and October on the private company proposals has been challenging us tax advisors; however, there has been some recent clarity with still more to come.”
EY Ottawa is hosting a tax seminar, “Are you ready to navigate the changing tax landscape” on Tuesday, November 28th, 2017 from 7:30-11:30am at the Marshes Golf Club.
This event is open to finance and tax professionals from Canadian private companies and companies doing business in the U.S. and internationally. This session will include breakfast followed by a plenary and concurrent sessions where EY Ottawa’s senior tax team will share its perspective and insights on these important topics.