Breaking: CRA asks Shopify to hand over records for more than 120,000 Canadian businesses to check for tax evasion
The Canada Revenue Agency is demanding six years’ worth of records from Shopify on all of its Canada-based businesses to verify their tax compliance.
It’s a more efficient auditing process, experts say, as opposed to looking for vendors on Shopify’s platform and auditing them individually. This way, the CRA can access all relevant documents from thousands of businesses and cross reference Shopify’s data with its own.
“The minister has the power to audit under the income and excise tax act,” Rhodes said. “If they don’t know exactly what they’re looking for, they need to get a court order to obtain the information needed to audit.” The CRA has a history of imposing court orders on large companies to fight tax evasion, said David Rotfleisch, tax lawyer and founder of Taxpage.com.
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