Canada: Mandatory disclosure of information about certain transactions (Quebec)

Canada: Mandatory disclosure of information (Quebec)

Taxpayers residing in or operating in Quebec must prepare to disclose information about certain specified transactions.


Revenu Quebec announced four specified transactions subject to new reporting requirements:

  • Avoidance of deemed disposal of trust property
  • Payment to a non-treaty country
  • Multiplication of the capital gains deduction
  • Tax attribute trading

Disclosure of these four transactions are due on or before 15 July 2021.

In addition to the reportable transactions already announced, Revenu Quebec is expected to provide a list of additional transactions that will be subject to the new reporting requirements on an ongoing basis.

A failure to disclose a specified transaction will be subject to a penalty assessment.

Read a March 2021 report [PDF 251 KB] prepared by the KPMG member firm in Canada

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