CRA Simplifies Burden for SMEs
The Canada Revenue Agency’s Action Task Force on Small Business Issues has released a report designed to alleviate compliance requirements for small and medium-sized businesses. Helping Small Businesses by Reducing the Compliance Burden recommends changes in three key areas: frequency of contact, effectiveness of communication, and tracking of progress.
The CRA has committed to implementing the more than 50 recommendations in the report, including:
- reducing the number of tax filings and remittances
- reducing paperwork by up to 70 per cent
- enabling GST/HST returns to be filed electronically
- enhancing electronic services
- simplifying and streamlining the information requested on forms
- analyzing common errors and addressing them
- expanding outreach activities
Created in August 2006, the Task Force consisted of senior CRA officials, small business owners, representatives from Industry Canada, and representatives from organizations such as the Canadian Federation of Independent Business, the Canadian Chamber of Commerce, and CGA-Canada. For more information and to read the full report, go to: http://www.cra-arc.gc.ca/E/pub/xi/07-105/07-105-e.html.
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