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: Clarification of facts in ruling 2010-037639
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2011-039403
XXXXXXXXXX
XXXXXXXXXX , 2011
Dear XXXXXXXXXX :
Re: XXXXXXXXXX ("Canco")
Further to our recent discussions (XXXXXXXXXX ), we confirm that paragraph 8 of income tax ruling 2010-037639 is replaced with the following:
8. Dutchco will use the cash received from the Dutchco Loan to makes loans to or investments in other foreign entities within the Pubco Group (other than a foreign affiliate of Canco or a partnership in which a foreign affiliate of Canco has an interest) depending on the cash requirements of the relevant entities.
We confirm that the rulings provided in our document 2010-037639 continue to be binding on the CRA, subject to the limitations and qualifications set forth in that document.
Yours truly,
for Director
International and Trusts Division
Income Tax Rulings Directorate
Legislative Policy and Regulatory Affairs Branch
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