Finance committee  , sent directly to the IRS. Now normally, these are sent to the U.S. Treasury, and the IRS wouldn't see them. The reason the IRS wants them is that they are absolutely the best indicator they have about a person's financial status and whether they meet the test of what the IRS would

Finance committee  . Investors will not be asked to provide any additional information to document or demonstrate their non-U.S. taxpayer status in any such accounts. Without the IGA, Canadian financial institutions would each need to sign an agreement with the IRS that would prevent them from opening

Agriculture committee  , or IR-4. Today, thanks to support and collaboration, the Pest Management Centre is the envy of our competitors in many countries. The Pest Management Centre and the dispute resolution corporation are two highly successful legacies of leadership and collaboration. In April 2016

Finance committee   for me, with the Canada Revenue Agency, is that if we do this, we do it well. I've certainly discussed it with the IRS, and I've discussed with the United Kingdom their approaches. There are areas that are relatively straightforward, and there are areas that are very difficult. I

Finance committee   tax plans are going to be audited. I know you have 30 years of experience, so I'd like you to explain to me how the practices of the IRS in the United States compare with those of the CRA in Canada. How can we apply global best practices here, in Canada?

Veterans Affairs committee   has nothing to do but watch. It doesn't work that way. The commander is commanding. The two ICs are watching the IR screen, the driver drives, the gunner guns, and when that hatch breaks and falls on the back of your neck, no one is there to see it, so the level of evidence that's

Agriculture committee   that the value was there to proceed to look for financial backing to get there. So when there are issues sitting out there right now that may give rise to questions about some of this or raise the ire of a banker who doesn't understand.... The reality is that when the grandfathers

Information & Ethics committee  All right. I have some very useful questions, Mr. Chair. I honestly have just a quick question for clarification. September 30, 2016, is the next transfer of records between the IRS and the CRA. Some of the concerns that were raised here are that a number of Canadians whose

Information & Ethics committee   be collected from a financial institution. The question that was asked earlier this morning was this: assuming this regime, should the CRA inform the individuals in question that their information has been shared with the IRS? I think there is no reason why not. What we heard

Information & Ethics committee   less than $50,000, whether their personal information will be transferred or not to the CRA and, ultimately, to the IRS. From that perspective, clarity would be extremely desirable.

Information & Ethics committee  My question was more about ensuring reciprocity. Do we take any steps to verify or assure ourselves that the IRS respects our notion of an acceptable retention period and that they in fact destroy or otherwise not have use of information for a period that exceeds what we would

Information & Ethics committee   means, though, other than that, to ensure, to require, or to enforce respect for retention periods—for example, from the IRS—for information that's been shared under the agreement?

Information & Ethics committee  Thank you, Mr. Chair, my question is somewhat along the same lines as the one that Mr. Calkins asked. In some countries, banks transmit the information directly to the IRS. What kind of filter does the Canada Revenue Agency have before it sends the information it receives from

Information & Ethics committee  Have there been incidents reported of information that is not subject to the agreement, such as Canadian-held RRSPs, TFSAs, or whatnot, being disclosed to the IRS? Are you aware of breaches of that nature?

Information & Ethics committee   with the privacy rights in effect in Canada. Information exchange is done electronically, through a dedicated, secure and effective transmission system. All information that the IRS receives must be kept secret in the same way as information obtained under its own tax laws. All information can