Summary
Budget 2026 notes that peer review found Canada's Common Reporting Standard rules narrower than the OECD model, for example on investment entities and some partnerships. Ottawa will consult on closing these gaps, with written comments due by 31 December 2026, and proposes stronger CRS, platform and crypto reporting penalties from 2028.
What it means for you
Canadian banks, funds and partnerships with NRI or Indian-resident account holders should expect wider CRS reporting to India and tighter self-certification checks.
This summary is general information, not legal advice. The outcome of any case depends on its facts; read the source and take advice before acting.
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