Musings of a Tax Chick... Shopify and the CRA requirement to provide information - what does it mean for your business?

The CEO of Shopify (Tobias Lutke) tweeted last week that the company intends to fight a request from the Canada Revenue Agency (CRA) to turn over six years of records of more than 121,000 Canadian stores using the firm’s platform.  If you use Shopify in your business, this tweet should have made you sit up a little straighter in your chair...What is a "requirement" and can Shopify be required to turn over this information?  Check out this episode for more details!RESOURCES DISCUSSED ON THIS EPISODE:Requirements to Provide Information: https://www.canada.ca/en/revenue-agency/services/tax/technical-information/compliance-manuals-policies/acquiring-information-taxpayers-registrants-third-parties.html Jamie Golumbek, "How the taxman uses the 'unnamed persons' rule to uncover potential tax cheats (Financial Post) https://financialpost.com/personal-finance/taxes/how-the-taxman-uses-the-unnamed-persons-rule-to-uncover-potential-tax-cheatsNational Post Article on France/Australia requests: https://nationalpost.com/news/canada/france-australia-join-canada-in-seeking-information-from-cra-on-shopify-clients-as-part-of-tax-audits HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:My new website is now live!!!  www.thetaxchick.ca Email: [email protected]: https://www.linkedin.com/in/amandasadoucette   Instagram: https://www.instagram.com/tax.chick/ Be a "Tax Chick VIP": http://eepurl.com/hNbXcb