Commercial Services and Supplies
Company Overview of Canada Revenue Agency
Canada Revenue Agency (CRA) offers tax and benefits administration services to the Government of Canada. It provides tax assessment and collection, source deductions collection, voluntary disclosures assessment and processing, and Taxpayer Relief Provisions approval services. Additionally, the agency offers filing and remittance compliance, social and economic benefit, and incentive programs administration services. CRA, formerly known as Canada Customs and Revenue Agency, was founded in 1999 and is based in Ottawa, Canada.
555 MacKenzie Avenue
Ottawa, ON K1A 0L5
Founded in 1999
Key Executives for Canada Revenue Agency
Commissioner and Chief Executive Officer
Director of Communications
Chairman of Management Board
Member of Management Board
Member of Management Board
Compensation as of Fiscal Year 2016.
Canada Revenue Agency Key Developments
Canada Revenue Agency Announces Appointment of Mireille to its Board of Management
Jul 16 16
The Honourable Diane Lebouthillier, P.C. M.P., Minister of National Revenue announced the appointment of Ms. Mireille A. Saulnier to the Canada Revenue Agency Board of Management. Ms. Saulnier was nominated by the Province of New Brunswick, and has been appointed for a three-year term. She has been a member of the Board of Directors at Service New Brunswick since October 2015, the regional representative of the Association des juristes dexpression franaise du Nouveau-Brunswick since 2010, and she is the outgoing chairman of the Chambre de Commerce du Grand Tracadie-Sheila Inc.
Spin Master Reaches Agreement with Canada Revenue Agency to Resolve Previously Disclosed Transfer Pricing Matter
Dec 18 15
Spin Master Corp. announced that it has reached a settlement agreement with the Canada Revenue Agency, which resolves a previously disclosed transfer pricing matter arising from the CRA's audit of the cost sharing arrangements between Spin Master Ltd. and a foreign affiliate during the 2004 – 2013 taxation years. The amount of the settlement is below the mid-point of the range stated in the Company's Initial Public Offering prospectus. As initially disclosed in the Company's IPO prospectus, the CRA had notified Spin Master that the CRA proposed to assess additional taxes and potentially penalties relating to proposed transfer pricing adjustments in respect of the cost sharing arrangements. The total liability for Canadian federal and Ontario corporate income tax, penalties and interest under the proposed adjustments by the CRA would have been approximately CAD 58 million for the 2004 – 2012 taxation years. Spin Master had also estimated that potential additional tax, interest and penalties in the amount of CAD 7 million would be payable for the 2013 - 2015 taxation years if the CRA's proposed transfer pricing methodology for 2004 – 2012 were applied to these later years. Under the settlement agreement Spin Master and the CRA have agreed on the amounts of the transfer pricing adjustments that will be made by the CRA for the 2004 – 2013 taxation years in respect of the cost-sharing arrangements and that no transfer pricing penalties will apply in respect of such adjustments. Spin Master has also agreed under the settlement to waive its rights of objection and appeal in respect of the agreed adjustments. The total liability for Canadian federal and Ontario corporate income tax and interest in respect of the agreed transfer pricing adjustments is approximately CAD 15 million, to be paid in cash upon the receipt of final re-assessments from the CRA in the first quarter of 2016. The settlement agreement with the CRA will result in a charge of approximately USD 14 million (CAD 19 million) in the consolidated statement of operations of Spin Master for the fourth quarter of 2015. The settlement eliminates the contingent liability relating to the transfer pricing matter as disclosed in Note 12 of Spin Master's third quarter 2015 financial statements.
Similar Private Companies By Industry
Recent Private Companies Transactions
|No transactions available in the past 12 months.|
The information and data displayed in this profile are created and managed by S&P Global Market Intelligence, a division of S&P Global. Bloomberg.com does not create or control the content. For inquiries, please contact S&P Global Market Intelligence directly by clicking
Most Searched Private Companies
Sponsored Financial Commentaries