Department of Finance Canada

The Department of Finance Canada is the Ministry of Finance of Canada with headquarters in the government district of Ottawa in the Province of Ontario. The Authority was established on 1 July 1867, approximately 1,000 employees.

Function

The Authority is subject to the Canadian Finance Minister, Jim Flaherty currently. The functions of the Authority are to secure a healthy Canadian economy. Among the functions of the Authority include: The control of tax, customs, monetary and economic policies that money production and supervision of compliance with the law. The Minister of Finance is the chief advisor to the Prime Minister of Canada, Stephen Harper on economic issues and responsible for the national and international financial and tax policy of Canada. It monitors the finances of the Canadian government and the tax authorities.

For important economic policy decision, the authority of the Canadian government is available.

Areas

The authority is divided into ten departments ( Branches), which assume all fiscal duties.:

  • Economic and Fiscal Policy Branch
  • Economic Development and Corporate Finance Branch
  • Federal- Provincial Relations and Social Policy Branch
  • Financial Sector Policy Branch
  • International Trade and Finance Branch
  • Tax Policy Branch
  • Law Branch
  • Corporate Services Branch
  • Consultations and Communications Branch
  • Internal Audit and Evaluation

Legislation

The Authority enforces the following laws:

  • Income Tax Act
  • Federal- Provincial Fiscal Arrangements Act
  • Customs Act
  • Customs Tariff Act
  • Excise Act
  • Excise Tax Act
  • Proceeds of Crime ( Money Laundering ) Act
  • Income Tax Conventions Implementation Act
  • Payment Clearing and Settlement Act
  • Financial Administration Act
  • Special Import Measures Act
Economy of Canada
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