News and Insights

CRA Notice 233, “Filing an Election under Section 167.11 of the Excise Tax Act”

Tax Development Jun 13, 2008

The Canada Revenue Agency recently issued this notice to provide further information regarding the GST/HST relief available under section 167.11 of the Excise Tax Act. The relief is available for initial asset transfers from a foreign bank’s Canadian subsidiary to its newly established Canadian branch.

CRA GST/HST Notice 233