*This is an updated post that reflects helpful comments on the earlier post provided by a number of friends and colleagues who share my interest in this case and indeed the law more broadly. "Loblaws" is an established Canadian grocer. It markets a comprehensive line of high quality products and services, including financial services, […]
Canadian News
The Taxpayer is Successful Today at the Supreme Court in the Important Alta Energy "Treaty Shopping" Case - Updated
What is "treaty shopping"? It is an often used and disparaging phrase in international tax practice. But, in fact few really know what it means, contrasted with what for various reasons they want it to mean. Today, we have a much better idea of what "treaty shopping" is not. We are also reminded in […]
Professor Jinyan Li Speaks About China's Ascendancy in International Tax
Recently, Professor Jinyan Li Spoke about the deveolpment and influence of Chinese tax policy in relation to global economic and tax developments in an inverview hosted by the International Bureau of Fiscal Documentation, conducted by Professor Johann Hattingh of the University of Cape Town, South Africa. Professor Li's comments are important, coming as they do […]
Professor Jinyan Li Quoted by Bloomberg News
Professor of Taxation Law and former Interim Dean of Osgoode Hall Law School, Jinyan Li, was recently quoted by Bloomberg News in an article on the expected response from China to the G7's apparent agreement on a new "global" minimum corporate tax rate. The article, "China's Likely Bid for Tax Exemption Poses Risk to […]
"Coming Soon" II - The Pillars Depart Venice
The G20 Finance Ministers and Central Bank Governors issued a Communiqué yesterday which among other things, and not surprisingly, heralds "a historic agreement on a more stable and fairer international tax architecture" and "endorse[s] the key components of the two pillars on the reallocation of profits of multinational enterprises and an effective global minimum […]
Reflecting on the OECD’s July 1 “Two-Pillar Plan” Announcement
“Coming Soon”? It is possible to be hopeful and constructively critical of the OECD’s Two-Pillars strategy that flows out of the BEPS project, most recently advanced in the OECD’s July 1 announcement now a feature component of the July 2021 OECD Secretary-General Tax Report to G20 Finance Ministers and Central Bank Governors for their […]
A Couple of More Thoughts on “Hiding in Plain Sight? Changes to “Transfer Pricing” and the GAAR"
I do not know what “good form” is for commenting on one’s own blog post. But it does strike me that some elaboration may be helpful on the suggestion in that blog, to infuse the Canadian GAAR (and its sentiments applied in transfer pricing) with a statutory reflection of the United Kingdom GAAR’s explicit […]
Hiding in Plain Sight? Changes to “Transfer Pricing” and the GAAR
Abstract Drawing on comparative references to transfer pricing legislation in the United Kingdom and Australia and on the legislative “General Anti-Avoidance Rule” in the United Kingdom, these comments probe to identify and suggest responses to the underlying “problem” that pervades transfer pricing and Canadian GAAR jurisprudence but is, it seems, either thought or thought […]
Richard Bird - Remembering a Canadian Taxation Giant
Richard Bird passed away suddenly on Wednesday June 9, 2021. It's hard to imagine. He has been in my professional consciousness for as long as I've had one and our collective consciousness for much longer as a leader in taxation and public finance, in Canada certainly but also in the world. There are few […]
The G7 Finance Ministers and Central Bank Governors “Agree” to Global Tax “Changes”: “What You See … and What You Don’t”
Reports of a Global Minimum Tax It is much reported today that the G7 Finance Ministers agreed to implement a global corporate minimum tax. The Communiqué and a supporting commitment to developing beneficial ownership registries can be found by clicking the hyperlinks. (Also see here an html-friendly version of the Communiqué). This note does […]