Global tax reforms could ease burden for Canadians working abroad
Compliance demands are rising across the board
Despite the pockets of reform documented in the Deloitte survey, the report’s overarching conclusion is clear: tax complexity is increasing, not decreasing.
Transparency and reporting requirements ranked as the top business impact theme for the third consecutive year, cited by 65 per cent of respondents. The single most significant operational driver, according to the report, was the increase in compliance, administrative, and reporting requirements, with sourcing and verifying data identified as the leading execution challenge across all themes.
Amanda Tickel, Deloitte’s Global Tax and Trade Policy Leader, said in the report that the central challenge going forward is balancing the benefits of policy against the costs and burdens of compliance.
Clients with cross-border assets, foreign employment income, or international business interests are already navigating obligations under the CRA’s T1135 Foreign Income Verification Statement — required for Canadians holding foreign property exceeding $100,000 at any point during the tax year — as well as treaty-based disclosures and foreign reporting requirements. The global escalation of reporting obligations documented in the Deloitte survey compounds that burden for any client with European or multinational exposure.
The survey also pointed to longer-term change in how tax authorities will operate. The OECD’s Tax Administration 3.0 concept — a framework for fully digitalised, near-real-time tax compliance — is gaining traction globally, with 60 per cent of respondents telling Deloitte they are already seeing movement toward this model in their jurisdiction.
