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.
Principal Issues: Supplemental Ruling Request to 2007-023388 dated XXXXXXXXXX , 2007. Minor amendments to revise the wording of paragraphs 32, 33.
Position: No effect on original rulings as issued.
XXXXXXXXXX 2007-025635
XXXXXXXXXX , 2007
Dear XXXXXXXXXX:
Advance Income Tax Ruling XXXXXXXXXX
This is in reply to your letter of XXXXXXXXXX wherein you requested amendments to paragraphs 32 and 33 in the advance income tax ruling number 2007-023388 dated XXXXXXXXXX, 2007 (the "Ruling"). As a result, the second unenumerated paragraph of paragraph 32 of the Ruling is amended to read as follows:
The addition to the stated capital under the BCA of the common shares issued by S Co as consideration for the shares transferred to it, as described above, will not exceed the aggregate paid-up capital of such transferred shares.
The second unenumerated paragraph of paragraph 33 is amended to read as follows:
The addition to the stated capital under the BCA to the common shares issued by F Co as consideration for the shares transferred to it, as described above, will not exceed the aggregate paid-up capital of such transferred shares.
We hereby confirm that, subject to the conditions, limitations, qualifications and comments set out in the Ruling, and including the above amendments to paragraph 32 and 33, the rulings given therein will continue to be binding on the Canada Revenue Agency.
Yours truly,
XXXXXXXXXX
Manager
Corporate Reorganizations Section II
Reorganizations and Resources Division
Income Tax Rulings Directorate
Legislative Policy and Regulatory Affairs Branch
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© Her Majesty the Queen in Right of Canada, 2007
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© Sa Majesté la Reine du Chef du Canada, 2007
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