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: Minor amendments
Position: No affect on the ruling given with respect to paragraph 55(3)(a).
Reasons: No transaction dealing with an unrelated person.
XXXXXXXXXX 2000-006158
Attention: XXXXXXXXXX
XXXXXXXXXX, 2000
Dear Sirs:
Re: XXXXXXXXXX ("XCo")
This is in reply to your letter of XXXXXXXXXX, wherein you requested certain amendments to the advance income tax ruling issued on XXXXXXXXXX, 2000 (our reference 2000-004954)(the "Ruling").
All capitalized terms have the meaning assigned in the Ruling.
1. Paragraph 4 of the Ruling will be amended by replacing "XXXXXXXXXX common shares" with "XXXXXXXXXX common shares".
2. The following paragraph will be added after paragraph 18 of the Ruling:
18A. Debt of XCo XXXXXXXXXX held by XCo XXXXXXXXXX will be exchanged for shares in the capital of XCo XXXXXXXXXX.
3. The following paragraph will be added after paragraph 26 of the Ruling:
26A. Successor will transfer operating assets to XXXXXXXXXX, formerly a direct wholly-owned subsidiary of XCo XXXXXXXXXX and at the time a direct wholly-owned subsidiary of Successor.
We confirm that the above amendments will not, in and of themselves, affect Ruling (G) given in the Ruling.
Nothing in this letter should be construed as implying that the Canada Customs and Revenue Agency has reviewed, accepted or agreed to any tax consequences relating to the amendments described above other than those specifically described in the confirmation above relating to Ruling (G) of the Ruling.
Yours truly,
for Director
Reorganizations and International Division
Income Tax Rulings Directorate
Policy and Legislation Branch
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