In the News: Canada's New Advance Pricing Agreement Program Called Restrictive

Baker McKenzie's Canadian Transfer Pricing Practice Leader and Director of Economics, Chris Raybould, was featured in the Bloomberg Tax article, "Canada's New Advance Pricing Agreement Program Called Restrictive."

The Canada Revenue Agency's (CRA) Advance Pricing Agreement (APA) program has long been an important service for multinationals looking to settle transfer prices for cross-border intercompany transactions. Last month, the CRA released updates to its APA program in Information Circular IC-94-2R2, aiming to increase the efficiency of submission reviews.

Chris commented, "The updated circular provides better clarity on the current policies and procedures related to pursuing APAs with the CRA."

Subscribers can read the full article directly on Bloomberg Tax's website.