The Canada Revenue Agency (CRA) issued updates to the guidance under the FATCA and common reporting standard (CRS) regimes.
Both updated guidance documents state that non-IIROC (Investment Industry Regulatory Organization of Canada) members may refer to the guidance in chapter 5, involving multiple financial institution structures, to understand the consequences associated with arrangements similar to those discussed in the chapter for IIROC members.
Read an August 2020 report [PDF 79 KB] prepared by the KPMG member firm in Canada
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