McDonough submitted recommendations to Canada Revenue Agency for updates to CRA's interpretation bulletins and information circulars. The recommendations were prepared under the aegis of TEI's Canadian Income Tax Committee, whose chair is David M.
In February 2007, Tax Executives Institute wrote to urge that Canada Revenue Agency (CRA) resume its practice of regularly updating its interpretation bulletins (ITs) and information circulars (ICs) and issuing new ITs and ICs as warranted by legislative, administrative, and judicial developments.
Priority List of Information Bulletins and Information Circulars IT# Date Last Updated Topic 59R3 September 26, 1984 Interest on debts owing to specified non-residents (thin capitalization) 63R5 August 21, 1995 Benefits, Including Standby Charge for an Automobile, from the Personal Use of Motor Vehicle Supplied by an Employer after 1992 64R4 August 14, 2001 Corporations: Association and Control 67R3 May 15, 1992 Taxable dividends from corporations resident in Canada 91R4 June 1 7, 1996 Employment at Special Work Sites or Remote Work Loca- tions 95R December 16, 1980 Foreign exchange gains and losses 102R2 July 22, 1985 Conversion of property, other than real property, from or to inventory.
We are especially interested in progress reports on pending guidance projects, including information circulars (IC), bulletins, and guidelines.
We invite a discussion of the scope and degree of administrative tolerance that Revenue Canada will afford to taxpayers in satisfying the plethora of new transfer-pricing documentation requirements set forth in revised Information Circular IC 87-2R.
We recommend that Revenue Canada publicize, through interpretation bulletins and information circulars, its administrative position and assessing practice.
The policy on disclosure of taxpayer information is outlined in paragraph 48 of Information Circular No.