TEI Comments on Canadian Draft RUTT Form

On June 7, TEI submitted comments to the Canada Revenue Agency (CRA) regarding the draft Reportable Uncertain Tax Treatment (RUTT) form. Taxpayers must use the RUTT form to report certain items depend-ing on how those items are treated on a taxpayer’s relevant financial statements. TEI’s comments focused on recommendations to reduce the burden of preparing and filing the RUTT form with CRA, including lim-iting the information the form requires, filing the form by a single entity within a consolidated group, and clarifying which taxes the RUTT form encompasses. TEI’s comments were prepared by its Canadian Income Tax Committee. Read TEI’s comments here.