U.S. Tax Revamp Creates Uncertainty for Canadian Tax Executives

May 4, 2021, 9:47 PM

Proposals to revamp U.S. tax law and and the rollout of a new Canadian budget are creating unprecedented levels of uncertainty for tax departments, executives warned Tuesday.

The changes tax offices face today are more material than normal and are happening within a more volatile context, Michael Munoz, vice president of tax and treasurer for Suncor Energy Inc., told a panel at the International Fiscal Association’s Canadian branch tax conference.

“This period of time is different than it has been in history,” he said.

Recent U.S. proposals from President Joe Biden to change the country’s international tax rules—just...

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