Canadian hydraulic fracturing technology (“fracking”) is at the center of a controversial US case about inter partes review (“IPR”) of patents. The
On July 1st, 2015 the UK Supreme Court released its judgment in the case of Anson v. Commissioners for Her Majesty’s Revenue and Customs (Anson), in
The Federal Court of Appeal recently issued its decision in a case that considered the scope of a specific anti-avoidance rule in paragraph 95(6)(b)
Third parties must know exactly who they are entering into a contract with, especially when dealing with a limited liability company. That said, the
Regulations to the Income Tax Act (Canada) (Act) contain rules with respect to the computation of the earnings of a foreign affiliate of a Canadian-resident taxpayer, which is relevant in calculating the surplus accounts of the foreign affiliate.
On June 11, 2010, the Federal Court of Appeal in Exida.com Ltd. Liability Co. v. Her Majesty the Queen (2010 DTC. 6935) resolved two conflicting decisions of the Tax Court of Canada on the issue of whether a non-resident corporation that does not have any tax payable under the Tax Act may be subject to a late-filing penalty for failing to file an income tax return within the prescribed time in the Tax Act.
The Canada Revenue Agency (CRA) recently announced that it will accept claims for treaty benefits by US limited liability companies (LLCs) in certain circumstances.
The April 8, 2010 decision of the Tax Court of Canada in TD Securities (USA) LLC v. R. (2008-2314(IT)G) has reversed a long-standing position of the Canada Revenue Agency (CRA) that US limited liability companies (LLCs) are not entitled to the benefits of the Canada-US Income Tax Convention (Treaty) before the recent amendments made in the Fifth Protocol to the Treaty.
The Fifth Protocol to the Canada-US Tax Convention, 1980 (Canada-US Treaty) introduced important changes of interest to US multinational enterprises with hybrid entities, such as unlimited liability companies (ULCs) and limited liability companies (LLCs), in their cross-border structures.
On December 15, 2008, the Fifth Protocol to the Canada - US Income Tax Convention (Treaty) came into force.