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The PUC created by the issuance of Whiting Bidco shares to Whiting would have been sufficient to offset one of the FA investments (as it did), but there would have been no further PUC available to offset the other FA investment, meaning that a dividend equal to the value of the transaction could have been deemed to have been paid by Whiting Bidco to Whiting, and could have been subject to withholding tax at a 5 percent rate (under the Canada-U.S. tax convention.). ...

", Tax Notes International, 26 September 2016, p. 1141-- summary under Article 5 Summary Under Tax Topics- Treaties- Income Tax Conventions- Article 5 Proposed change in BEPS final action plan to agency PE effectively elevates "habitually" requirement (p. 1142) [A]rticle 5(5) will no longer require the dependent agent to conclude contracts in the principal's name; it will be sufficient that the dependent agent habitually plays the principal role leading to the routine conclusion of contracts without material modification by the enterprise — that is, the principal. ...

Richard Tremblay, Ilana Ludwin, "Indian Supreme Court Diverges from OECD Guidelines, Relies on Questionable Canadian Precedent, in Deciding PE Issue in Formula One", Tax Management International Journal, 2018, p. 125-- summary under Article 5 Summary Under Tax Topics- Treaties- Income Tax Conventions- Article 5 Finding of PE in Formula One (p. 125) The Supreme Court of India ("Supreme Court") decided in 2017 [in Formula One] that Formula One World Championship Limited ("FOWC"), a U.K. corporation, had a permanent establishment in India as a result of its role in the 2011-2013 Indian Grand Prix races…. ...

. … As noted…in Prévost Car …later guidance from the OECD can be helpful to the interpretation and application of existing bilateral tax treaties, when it "represent[s] a fair Interpretation" of the OECD Model Tax Convention (the "Model Treaty") and does not conflict with the guidance that was in place at the time a specific treaty was entered into. ...

.-- summary under Article 11 Summary Under Tax Topics- Treaties- Income Tax Conventions- Article 11 Application of 1977 OECD commentary on beneficial ownershp to Italian manatarios (p. 1139) The commentary stated that the limitation of tax in the state of source was unavailable when an intermediary, such as an agent or nominee, was interposed between the beneficiary and payer, unless the beneficial owner of the income is a resident of the other contracting state. ...

.-- summary under Article 11 Summary Under Tax Topics- Treaties- Income Tax Conventions- Article 11 BEPS Report (p. 531) …‘‘Neutralising the Effects of Hybrid Mismatch Arrangements,'' was released by the OECD on September 16, 2014, as part of a package of seven reports addressing different aspects of the BEPS action plan. ...

.-- summary under Article 9 Summary Under Tax Topics- Treaties- Income Tax Conventions- Article 9 Per OECD, Art. 9 permits recharacterizing debt where it is equity in economic substance (pp. 11176-7) [T]he [Canada Revenue Agency] information circular [87-2R] notes that "Section 247 is intended to reflect the arm's length principle expressed in the OECD Guidelines. ...

Exclusion of non-commercial transactions 20:8 Article 9 of the OECD model convention is concerned with the pricing of "commercial" and "financial" transactions, and the guidance provided by the OECD with respect to article 9 and the ALP is aimed at those kinds of transactions. ...

.-- summary under Article 5 Summary Under Tax Topics- Treaties- Income Tax Conventions- Article 5 Effect of extensive subcontracting After noting that the OECD Working Party 1 had prepared a Revised PE Discussion Draft which inter alia considered whether an enterprise (the contractor) that has undertaken performance of a comprehensive project would have a permanent establishment if it subcontracts all aspects of that contract to other enterprises (the subcontractors), Barbara Angus discussed (at pp. 266-267) the Offshore Accommodation Service case: A situation involving the subcontracting of all of the activities with respect to a given project in a context outside the construction setting was the subject of litigation in Norway. ...

.-- summary under Article 5 Summary Under Tax Topics- Treaties- Income Tax Conventions- Article 5 Construction site clause: exemption or deeming clause (p. 211) Article 5(3) of the OECD model states that: A building site or construction or installation project constitutes a permanent establishment only if it lasts more than twelve months. ...