Canadian Corporate Tax

meet

14 Sep: IFRS 15 Revenues from Contracts with Customers

IFRS 15, Revenue from Contracts with Customers was issued in May 2014 and replaces IAS 11 Construction Contracts, IAS 18 Revenue and various interpretations. IFRS 15 establishes a single model of accounting for revenue arising from contracts with customers. IFRS 15 requires entities to recognize revenue reflecting the transfer of goods or services to customers […]

white flag

15 Nov: Introduction to Extractive Sector Transparency Measures Act (ESTMA)

On December 16, 2014, the Government of Canada passed an Extractive Sector Transparency Measures Act (ESTMA) setting out new rules regarding the disclosure of payments to foreign and domestic governments. The purpose is to enhance transparency among participants in the extractive industry as part of Canada’s international commitments to participate in the fight against corruption. […]