By Timileyin Oyewo ( November 22, 2024, 10:37 AM EST) -- The 2024 Federal Budget introduces important tax proposals that amend the Income Tax Act and strengthen the Canada Revenue Agency’s (CRA) audit and compliance powers. The additional powers could be vital for enhancing tax collection and curbing GST/HST fraud, including Carousel fraud, which exploits cross-border trade to falsely claim Input Tax Credits (ITC), and Accommodation Invoice fraud, involving bogus invoices for fictitious transactions....