19:06:00 EDT Sat 25 May 2024
Enter Symbol
or Name
USA
CA



Shopify Inc
Symbol SHOP
Shares Issued 1,197,261,979
Close 2023-06-27 C$ 84.10
Market Cap C$ 100,689,732,434
Recent Sedar Documents

FP says Shopify to challenge CRA's information request

2023-06-28 09:29 ET - In the News

The Financial Post reports in its Wednesday edition that Shopify will challenge a request from the Canada Revenue Agency to turn over six years of records for Canadian stores using the firm's software. The Post's Tara Deschamps quotes Shopify chief executive officer Tobi Lutke saying in a tweet Friday: "This feels like low-key overreach to me. We will fight this." Federal Court documents show the Minister of National Revenue began seeking the records from the Ottawa-based e-commerce business in April. The government said the records were being sought in order to verify that Canadian merchants were obeying tax and excise laws. In a notice of application, it maintained that Shopify's records include the identity, sales amounts and other relevant account details of the merchants, but said, "The minister does not know the identities of the relevant merchants." All parties involved are asking for a one-day hearing on the matter to take place between Feb. 13 and March 17, 2024. The CRA said it uses information obtained through "unnamed persons requirements to identify taxpayers that may have been non-compliant and verifies that they have appropriately reported their income and have satisfied their filing obligations."

© 2024 Canjex Publishing Ltd. All rights reserved.