Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the CRA.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle de l'ARC.
Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the Department.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle du ministère.
Principal Issues: Whether the additional facts affect our previous opinion given in file #991269
Position: No, provided that the only activities, if any, of the corporations which have a presence in Canada conducted in Canada are administrative housekeeping activities of the trustee corporation.
Reasons: As stated above.
XXXXXXXXXX 2000-000209
S. Leung
Attention: XXXXXXXXXX
January 26, 2000
Dear Sirs:
Re: Technical Opinion Letter #991269, dated December 23, 1999
We are writing in reply to your facsimile correspondence of January 13, 2000 regarding the above-noted technical opinion letter.
The hypothetical facts described in your facsimile correspondence, in and by themselves, would not affect the opinions expressed in that technical opinion letter if the only activities, if any, of Yco and its Canadian subsidiaries conducted in Canada with respect to Xco and the Offshore Trusts are administrative "housekeeping" activities of Xco such as Xco's corporate, tax and regulatory filings.
As stated in paragraph 22 of Information Circular 70-6R3 dated December 30, l996, the opinions expressed in this letter and the letter #991269 dated December 23, 1999 are not rulings and are consequently not binding on the Canada Customs and Revenue Agency.
Yours truly,
for Director
Reorganizations and International Division
Income Tax Rulings Directorate
Policy and Legislation Branch
??
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.../cont'd
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