The Corporate Income Tax Agency (CITA) has issued a consultation paper seeking stakeholder feedback on proposed amendments to the Corporate Income Tax Act and the Tax Credits Act.

Key Details of the Consultation:

Scope: The Corporate Income Tax Act amendments primarily affect corporate income taxpayers. However, the Tax Credits Act amendments apply broadly to any entity intending to claim a tax credit, regardless of their corporate income tax status.

Objective: The amendments aim to clarify specific legislative provisions. CITA has already incorporated initial stakeholder feedback into the provided illustrative draft legislation. The agency is now seeking further input on these drafts and recommendations for additional implementation guidance.

Timeline: The consultation window is open from 5 June 2026 to 22 June 2026.

Submission Guidelines:

Responses: Comments should be emailed to [email protected] with the subject line "CIT and TCA Amendments – June 2026".

Media Inquiries: Press-related questions should be directed to [email protected].

The full Consultation Paper is available for download via the link provided in the official announcement.