What is ‘Canada Revenue Agency – CRA’
A federal agency that collects taxes and administers tax laws for the Canadian government, as well as for many of Canada’s provinces and territories. The Canada Revenue Agency, or Agence du revenu du Canada, also oversees a variety of social and economic benefit and incentive programs via the tax system, along with international trade legislation.
Explaining ‘Canada Revenue Agency – CRA’
In a nutshell, the Canada Revenue Agency is the equivalent of the United States’ Internal Revenue Service (IRS). The CRA was previously known as the Canada Customs and Revenue Agency (CCRA) until the decision was made to split the agencies customs and revenue activities into two separate organizations in 2003. Like the IRS, the CRA is the definitive source on current Canadian tax laws, how they are interpreted and how they are applied.
Further Reading
- Financing Canadian Innovation: Why Canada Should End Roadblocks to Foreign Private Equity – search.proquest.com [PDF]
- At the crossroads: New ideas for charity finance in Canada – papers.ssrn.com [PDF]
- Distributional Impacts of Canada's Tax-Free Savings Accounts – www.utpjournals.press [PDF]
- Suing the Canada Revenue Agency in Tort – heinonline.org [PDF]
- Uncovering Research Potential of Administrative Data on Charitable Foundations in Canada – www.anserj.ca [PDF]
- COVID-19 blunts Alberta challenge to federal-provincial income tax – www.utpjournals.press [PDF]
