VANCOUVER and OTTAWA, Oct. 1, 2012 /CNW/ - The Certified General Accountants Association of Canada (CGA-Canada) welcomes today's release of the federal government's Red Tape Reduction Action Plan. CGA-Canada fully supports the government's commitment to reducing the administrative burden on small businesses, allowing them to focus on growth, competitiveness and innovation.
"Implementing government-wide measures to reduce the compliance burden on Canadian businesses is long overdue," says Anthony Ariganello, president and CEO of CGA-Canada. "We are pleased the federal government is taking concrete steps to bring meaningful change to the way it interacts with businesses."
Of the many measures in the action plan, the business community and their financial advisors should benefit from those that improve transparency and predictability in the regulatory process, such as the new requirement that regulators post "forward-regulatory plans". Moreover, requiring regulators to establish service standards and post information about complaint processes and their performance should improve accountability. The government also reiterated its commitment to implementing the one-for-one rule and ensuring a small business lens is applied to new or amended regulations.
"Moving forward, however, improving the business environment is about more than counting regulatory requirements," says Ariganello. "A profound change is also needed in Canada's tax system and there is a growing consensus that the complexity of Canada's tax system must be addressed. This should be the next action item for the federal government."
CGA-Canada will appear before the House of Commons Standing Committee on Finance on October 15 to outline its plan to modernize Canada's tax system.
Click here for more on CGA-Canada's views on tax simplification.
Founded in 1908, the Certified General Accountants Association of Canada serves 75,000 Certified General Accountants and students in Canada and nearly 100 countries. Respected accounting and financial management professionals, CGAs work in industry, finance, government and public practice. CGA-Canada establishes the designation's certification requirements and professional standards, offers professional development, conducts research and advocacy, and represents CGAs nationally and internationally.
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