11 Feb 2019
Louis Roy
Partner and president of Catallaxy | CPA, CA | Digital and technology consulting

Louis Roy, President of Catallaxy, commented in the media on the lack of guidance surrounding cryptocurrency exchange platforms.

In this highly publicized case in early February 2019, Raymond Chabot Grant Thornton’s partner expressed in several media outlets that “this event highlights the extent to which governance, regulation and internal control are needed in this sector of activity. Currently, it is not monitored at all”.

In an interview with L’heure du monde, broadcast on Radio-Canada, Louis stated that presently, there is no firm law on virtual currency exchange platforms.

“If the regulations applicable to financial institutions had been in effect, investors wouldn’t be in this situation. Their assets would have been held by a custodian, that is, a third party charged with safekeeping the assets of the clients on the exchange platform.”

Since 2014, Canadian and European authorities, namely the G20, have been developing new international regulations on the proceeds of crime (money laundering) and terrorist financing. Louis Roy insists on the fact that it is crucial to standardize regulation in both the law and the definitions attributed to cryptocurrencies.

“Under the law, cryptocurrency is considered a currency. However, from a tax point of view, it is considered property, so there are still numerous inconsistencies between the laws and we need to ensure that the public is protected.”

A guest of Anne-Marie Dussault’s on the 24/60 show broadcast on RDI, Louis pointed out the importance of informing investors about the current lack of internal control and the risks of investing in cryptocurrency.

“At Catallaxy, this is exactly what we promote: implementing governance and auditing in the world of cryptocurrency.”

Louis highlighted all of the advantages of blockchain technology, the first use of which is currently for virtual currency.

On Phare Ouest, broadcast on Radio-Canada and hailing from the Vancouver region, Louis reiterated: “I think there has to be a wake-up call in this activity sector. If we want the industry to listen, there need to be regulations that protect investors and savers. There is some regulation, but it needs to be adjusted.”

You can also read Louis Roy’s comments on Conseiller.ca and in Le Devoir on February 6 and Le Devoir on February 9.

Consult Catallaxy to learn more about the services offered.




11 Feb 2019  |  Written by :

Louis Roy is a partner at Raymond Chabot Grant Thornton. He is your expert in assurance for the...

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11 Feb 2019

For over 70 years, our clients’ trust has been based on our experts’ competence, diligence, integrity and concern for excellence.

We are very proud to introduce thirteen new passionate and experienced partners.

Every year, we do our utmost to enable our professionals to grow to their full potential so they are able to successfully guide our clients in their own growth.

To present them to the business community, Raymond Chabot Grant Thornton will publish an ad in Les Affaires (February 23, 2019).

Jean-François Fortin – Assurance – Bas‒Saint-Laurent/Gaspésie-Îles-de-la-Madeleine region
Nathalie Trottier – Tax – Abitibi-Témiscamingue region
Olivier Chauveau – Assurance – Montréal region
Mathieu Valcourt – Financial advisory – Montréal region
Pier-Paul Belzil-Lacasse – Recoverty and reorganisation – Abitibi-Témiscamingue region
Yvan Lavoie – Assurance – Bas‒Saint-Laurent/Gaspésie-Îles-de-la-Madeleine region
Sylvain Prince – Risk management – Estrie region
Christine Girouard – Tax – Montréal region
Lise Darras – Assurance – Montréal region
Charles David – Tax – Montréal region
David Mayrand – Management consulting – Montréal region
Normand Houle – Management consulting – Montréal region
Hugues Lepage – Management consulting – Montréal region

Congratulations to our new partners!


Nouveaux associés 2019 - RCGT

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08 Feb 2019
Paul Bérubé
Partner | CPA, CA | Tax

Congratulations to Paul Bérubé, Assurance and Tax Partner at our Edmundston office, on obtaining the prestigious title of Fellow Chartered Professional Accountant (FCPA) from Chartered Professional Accountants New Brunswick!

He was officially honoured at a CPA New Brunswick event on February 2, 2019.

The Fellow title formally recognizes those members who have rendered outstanding services to the profession, or whose achievements in their careers or in the community have earned them distinction and brought honour to the profession.

Paul said: “I’ve always worked with passion and conviction. Over the years, I’ve been—and continue to be—motivated by a desire to give my clients the best possible advice so they can achieve their objectives. I never did it for the glory of an award of any type, but I have to admit that, tonight, I’m very pleased to be honoured by the Order and my peers.”

Emilio B. Imbriglio, President and CEO of Raymond Chabot Grant Thornton added: “I’d like to extend my heartfelt congratulations to Paul for this well-deserved honour. He has made a remarkable contribution to the profession and the firm. It’s a privilege for us to be able to count on a colleague of his caliber to advise our clients and the firm’s professionals. Thank you, Paul, for bringing honour to our profession and making your great talent available for our collective success!”

Passion, innovation and discipline in the service of the profession

Paul Bérubé’s candidacy is exceptional and stands out both from a professional point of view and for his commitment to the community.

He is greatly appreciated by his clients and has gained an enviable reputation in tax services through his innovation, discipline and focus on supporting their success and growth.

Paul Bérubé Fellow

11 Feb 2019  |  Written by :

Paul Bérubé is a tax expert at Raymond Chabot Grant Thornton. Contact him today!

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07 Feb 2019

Raymond Chabot Grant Thornton submits budget recommendations to the federal and Quebec governments

Our unique perspective from both an industry and regional standpoint allows us to understand the realities of businesses, determine their needs and provide expert advice to meet their expectations. Once again this year, our firm is proud to submit budget proposals to further stimulate the growth of Quebec and Canadian businesses.

– Emilio B. Imbriglio, President and CEO

Montréal, February 7, 2019 – Stimulating wealth creation and providing our businesses with the means to achieve their ambitions are the driving forces behind the budget recommendations Raymond Chabot Grant Thornton has released today. These recommendations are based on four strategic priorities to enhance the performance of our businesses: equitable tax incentives, entrepreneurial succession, innovation and immigration.

“Our businesses have to respond to an increasingly competitive economic environment. It’s important not only to create additional leeway for them to invest and help generate wealth, but also to alleviate their tax burden,” stated firm President and CEO Emilio B. Imbriglio.

For more than 70 years, Raymond Chabot Grant Thornton’s mission has been to offer the best advice possible to help local businesses achieve their full potential for growth; their expertise combined with their knowledge of Quebec and Canadian businesses’ needs, positions the firm well to provide expert advice to ensure their success.

The following is an overview of the main recommendations based on the four key priorities that need to be considered to foster business competitiveness and productivity.

1. Equitable tax incentives

Among others, on the tax front, the firm is asking the governments to:

  • Announce their intention to reflect on and revise family taxation and, more broadly, that the federal government, in collaboration with the provinces, establish a review process for the tax system, that would be led by independent experts and would lead to a major taxation overhaul for the country;
  • Abolish corporate income tax on the first $500,000 of an SME’s taxable income, provided that the savings be invested in productivity, employment and innovation in a manner that avoids any possible abuse.

2. Entrepreneurial succession

The firm proposes the following measures for succession:

  • Governments should set up a fund to support businesses so that they can call upon professionals to help them implement a formal, complete succession plan;
  • The federal government should allow RRSPs to be used for funding entrepreneurs’ certified succession plans and for business investments;
  • The Quebec government should introduce financial aid intended specifically for entrepreneurial start-ups, growth and succession in organizations in the finance sector and especially investment fund management firms.

3. Innovation

Raymond Chabot Grant Thornton is suggesting that, for example:

  • Governments create an innovation tax credit to help SMEs increase their technology investments and continue to grow;
  • The Quebec government abolish the qualifying expenditure threshold for scientific research and experimental development (SR&ED). Failing this, SMEs should be exempted from the threshold or be able to carry forward their expenditures to subsequent years in order to qualify for funding;
  • The federal government improve the performance of the SR&ED tax credit program by eliminating the taxable income or capital restrictions, provided businesses reinvest the resulting benefit in SR&ED activities, and by abolishing the discrimination in application.

4. Immigration

For this fourth strategic priority, the firm recommends that:

  • The Quebec government use a portion of the funds generated by the Immigrant Investor Program (not government subsidized) to cover some of the international recruitment costs incurred by businesses;
  • The Quebec government expand the list of occupations not requiring a Labour Market Impact Assessment. Occupations could even be defined by each of Quebec’s administrative regions instead of for the province as a whole to better identify needs;
  • The federal government consider reintroducing an innovative business immigration program whose funds would be used in a more targeted manner than was the case with the previous program.

The prebudget proposals forwarded to the federal and Quebec government and a summary of the recommendations may be viewed on Raymond Chabot Grant Thornton’s website at the following addresses:

About Raymond Chabot Grant Thornton

Founded in 1948, Raymond Chabot Grant Thornton  has become a Canadian leader in the areas of assurance, tax, advisory services and business recovery and reorganization, with more than 2,500 professionals, including approximately 200 partners. Together, Raymond Chabot Grant Thornton and Grant Thornton LLP, another Canadian member firm of Grant Thornton International Ltd, comprise more than 4,400 professionals and close to 170 offices across Canada to help Canadian organizations achieve their full potential for growth. Grant Thornton International Ltd and its member and correspondent firms provide clients with the expertise of over 50,000 professionals across more than 135 countries.


Francis Letendre
Head, Public Affairs
Raymond Chabot Grant Thornton
Tel: 514-390-4201