Finance Minister Joe Oliver on October 10 tabled in the House of Commons tax proposals to implement the government’s budget and about a dozen tax proposals not included in the budget.
International tax proposals in the 278 page Notice of Ways and Means Motion include new rules that would expand the applicability of Canada’s thin capitalization rules to existing back-to-back loan provisions and add similar rules to the non-resident withholding tax provisions. Other rules relate to insurance swaps and amend aspects of the foreign affiliate dumping rules.
The government released a draft of the legislative proposals on August 29 for public consultation.
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