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. … BMO had no say in BBA's choice of location for its convention, and the fact that it was held outside Quebec does not in any event have an impact on the TA criteria …. ...

As a preliminary matter, the Tribunal noted that, like Art. 9 of the OECD Model Convention, s. 147 focused on the “two” enterprises to the transaction, rather than third parties. ...

BlackRock HoldCo 5, LLC v Commissioners for His Majesty's Revenue and Customs, [2024] EWCA Civ 330-- summary under Article 9 Summary Under Tax Topics- Treaties- Income Tax Conventions- Article 9 to make a cross-border inter-affiliate loan comparable in risk to the hypothetical independent enterprises’ loan, risk-protection covenants were to be imputed to the latter The structure for the acquisition by the BlackRock group of the U.S. target (“BGI”) entailed a BlackRock LLC (“LLC4”) lending US$4 billion to a wholly-owned LLC (“LLC5”) as well as injecting substantial equity into LLC5, with LLC5 using most of those proceeds to subscribe for preferred shares of the transaction Buyco (“LLC6” – which acquired all the shares of BGI). ...

PepsiCo, Inc v Commissioner of Taxation, [2024] FCAFC 86-- summary under Article 12 Summary Under Tax Topics- Treaties- Income Tax Conventions- Article 12 concentrate purchases by an Australian soft drink bottler could not be recharacterized as trademark royalties for withholding tax purposes A U.S. company (PepsiCo) entered into an “exclusive bottling appointment” (“EBA”) with an independent Australian bottling company (the “Bottler”). ...

Commissioners for His Majesty's Revenue and Customs v GE Financial Investments, [2024] EWCA Civ 797-- summary under Article 4 Summary Under Tax Topics- Treaties- Income Tax Conventions- Article 4 deemed US residence of UK corporation under US stapling rules did not cause residence for Treaty purposes A US company (“GEFI Inc.”) and UK company (“GEFI”) in the GE group formed a Delaware LP (“LP”) with GEFI Inc. as the 1% general partner and GEFI as the 99% limited partner. ...