- Canada Revenue Agency (CRA) published guidance on new reporting rules for digital platform operators
- Reporting platform operators must collect and report information on sellers to CRA
- Rules based on OECD’s Model Reporting Rules for Digital Platforms, effective in 2024
- First information return due by 31 January 2025 for 2024 calendar year
- Reporting platform operator defined as resident in Canada or allowing sellers to sell in Canada
- Reportable seller defined as registered on digital platform, residing in Canada or other implementing countries, selling to customers in those countries
- Information to be reported includes identification and activity information on each reportable seller
- Due diligence procedures required to ensure reliability of information collected and reported
- Filing instructions include obtaining a business number and information returns RZ programme account, filing using XML Schema
- Residents in Canada can file using My Business Account, residents with representatives can use Represent a Client to file on their behalf
Source: regfollower.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
