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.
XXX
We reply to your letter dated August 10, 1982 wherein you request our opinion on the application of paragraph 95(2)(d) of the Income Tax Act in the case of a merger of two United States foreign affiliates with their United States parent who is also a foreign affiliate. You state that the parent company is the survivor of the merger.
We are pleased to advise that where there has been a bona fide merger of two United States foreign affiliates with their foreign affiliate United States parent paragraph 95(2)(d) of the Act will apply provided the other requirements of that paragraph are met viz "... and such merger is not as a result of the acquisition of property ..." etc. The June 28, 1982 Ways and Means Motion at section 55 proposes an amendment to the present law in this area which you may wish to consider.
We regret the delay in our reply.
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© Her Majesty the Queen in Right of Canada, 1982
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© Sa Majesté la Reine du Chef du Canada, 1982
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