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.
| 24(1) |
5-9318 |
| |
O. Laurikainen |
| |
(613) 957-2129 |
| Attention: 19(1) |
August 15, 1990
Dear Sirs:
Re: Meaning of "Corporation"
This is in reply to your letter of December 18, 1989.
We agree with your view that an incorporated company created under the corporate statutes of a foreign jurisdiction is,not withstanding that its shareholders have unlimited liability for the debts of the company, a corporation within the meaning of section 248 of the Income Tax Act (the "Act"). Accordingly, it is possible for such a corporation to be a foreign affiliate of a taxpayer resident in Canada within the meaning set out in paragraph 95(1)(d) of the Act.
We trust this is the information you require.
Yours truly,
for DirectorReorganizations and Non-Resident DivisionRulings DirectorateLegislative and Intergovernmental Affairs Branch
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© Her Majesty the Queen in Right of Canada, 1990
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© Sa Majesté la Reine du Chef du Canada, 1990
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