What Businesses Need to Know About:

Author: Created: 3/12/2019 2:26 PM
By Business Law Group on 4/16/2019 4:15 PM

New reporting rules are coming for incorporated businesses.  Beginning in June 2019, the federal government will require federally incorporated companies to document and track individuals with significant control over that company. The proposed rules aim to strengthen transparency and prevent corporations from engaging in tax evasion and other criminal purposes.  While the federal government is the first to enact these rules, provincial governments are bound to follow.  Provincial finance ministers have agreed work together on this initiative.