What is the equivalent of W9 in the Canadian cryptocurrency industry?

3 answers

• May 07, 2022 · 3 years ago
  Yes, in the Canadian cryptocurrency industry, there is an equivalent form to the W9 form used in the United States. It is called the T1135 form. The T1135 form is used to report foreign property holdings, including cryptocurrency, for Canadian taxpayers. It requires individuals to provide details about their cryptocurrency holdings, such as the type of cryptocurrency, the quantity held, and the value of the holdings at specific points in time. This form is used to ensure compliance with tax regulations and to prevent tax evasion.
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• May 07, 2022 · 3 years ago
  No, there is no equivalent form to the W9 form in the Canadian cryptocurrency industry. The Canadian tax authorities rely on other means, such as audits and information sharing agreements with foreign jurisdictions, to ensure compliance with tax regulations and to prevent tax evasion. However, individuals are still required to report their cryptocurrency holdings and income for tax purposes.
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• May 07, 2022 · 3 years ago
  In the Canadian cryptocurrency industry, there is no specific form that is equivalent to the W9 form used in the United States. However, Canadian taxpayers are still required to report their cryptocurrency holdings and income for tax purposes. The Canada Revenue Agency (CRA) provides guidelines on how to report cryptocurrency transactions and income on tax returns. It is important for individuals to consult with a tax professional or refer to the CRA's guidelines to ensure compliance with tax regulations.
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