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.
XXXX R.H. Major (613) 957-2124
April 29, 1988
Dear Sirs:
In answer to your letter of February 4, 1988, we advise that in our view where the provisions of paragraph 212(13)(f) or subsection 212(13.2) of the Income Tax Act are applicable such that a non- resident payor of interest is deemed to be a person resident in Canada and that payor is a corporation, interest payable by the non-resident corporation will represent "interest payable by a corporation resident in Canada" for the purposes of subparagraph 212(l)(b)(vii) of the Income Tax Act. Accordingly, if all the other requirements of that subparagraph are met, such interest would be exempt from Part XIII tax.
We trust the above satisfactorily explains the position of the Departments.
Yours truly,
for Director Reorganizations and Non-Resident Division Specialty Rulings Directorate Legislative and Intergovernmental Affairs Branch
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© Her Majesty the Queen in Right of Canada, 1988
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© Sa Majesté la Reine du Chef du Canada, 1988
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