The Canadian federal budget of March 29, 2012 (“2012 Budget”) contained a variety of provisions directed at Canadian subsidiaries of foreign companies (see here for prior commentary). On August 14, 2012, the Department of Finance released draft legislation that would enact many of these proposals and which contain some variations from the initial announcements in the 2012 Budget. This bulletin identifies who is affected by these proposals and how (summarized in the table below).
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August 14 draft legislation targets foreign-owned Canadian companies
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