Daily Archives: October 28, 2020

Resurrecting the Advisory Panel’s Recommendation for a Full Exemption System

  For some time there has been debate about our current system of providing double tax relief for foreign-source active business income earned by Canadian corporations indirectly through foreign affiliates.  In the 1970’s the drafters of the Act chose a hybrid mechanism using both the exemption and credit systems.  But this requires surplus account tracking, […]