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20 November 2017 CTF Annual Conference - Department of Finance on BEPS

The Convention was only adopted at the end of November 2016 and there was a target date of a June 2017 signing ceremony. ... To then be able to notify the OECD depositary of the Convention, an Order in Council is first needed, which requires going to the Treasury Board. If we assume that the Bill is passed, and that it gets on the Treasury Board agenda and the OECD is notified, in August 2018, that would result in an entry into force of the Convention on December 1, 2018. ...

21 November 2017 CTF Annual Conference Roundtable

Official response 21 November 2017 CTF Roundtable Q. 7, 2017-0724261C6- CRA Update Q.8 – MLI “principal purpose test” On June 7, 2017, Canada signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting, commonly referred to as the Multilateral Instrument (“MLI”). ... S. 4.1 of the Income Tax Conventions Interpretation Act states that the GAAR applies to any benefit provided under a tax treaty. ... Paragraph 9 of new Article 29 of the draft 2017 OECD Model Tax Convention (released July 11, 2017) contains the bilateral “principal purpose test”, which was developed under BEPS Action 6, and is virtually identical to the PPT in Article 7(1) of the MLI. ...

29 May 2018 STEP Roundtable - Official Response

By virtue of section 4.3 of the Income Tax Conventions Interpretation Act, Trust will be deemed not to be a resident of any state other than Canada for purposes of applying a tax treaty. ... However, we would note that the application of the Canada-US Tax Convention to a US LLC as well as certain other Canadian tax consequences, such as foreign tax credits and deductions, may be different depending upon whether the US LLC is treated as a fiscally transparent entity or a corporation under US tax law. ...

BEPS 2014 - OECD Base Erosion and Profit Shifting Project

Email this Content BEPS 2014- OECD Base Erosion and Profit Shifting Project Instruments and Guidelines Canadian Adoption OECD Guidelines Action Items Final Action Item Drafts Other Instruments and Guidelines Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS OECD, 7 June 2017 (Explanatory Notes) Canadian Adoption Status of List of Reservations and Notifications at the Time of Signature Department of Foreign Affairs, Trade and Development, 30 May 2017 (press release) Backgrounder: Impact of Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (fin.ca) Department of Foreign Affairs, Trade and Development, 6 June 2017 OECD Guidelines Standard for Automatic Exchange of Financial Information in Tax Matters- Implementation Handbook- Second Edition OECD, April 2018 Action Items Final Action Pages Size Action 1: Addressing the Tax Challenges of the Digital Economy 285 3.21 M Action 2: Neutralising the Effects of Hybrid Mismatch Arrangements 454 5.22 M Action 3: Designing Effective Controlled Foreign Company Rules 69 1.96 M Action 4: Limiting Base Erosion Involving Interest Deductions and Other Financial Payment 115 2.09 M Action 4 2016 update 214 2.68 M Action 5: Countering Harmful Tax Practices More Effectively, Taking into Account Transparency and Substance 79 3.26 M Action 6: Preventing the Granting of Treaty Benefits in Inappropriate Circumstances 101 1.75 M Action 7: Preventing the Artificial Avoidance of Permanent Establishment Status 46 1.70 M Actions 8-10: Guidance on Transfer Pricing Aspects of Intangibles 186 2.24 M Action 11: Measuring and Monitoring BEPS 268 4.64 M Action 12: Mandatory Disclosure Rules 97 1.89 M Action 13: Guidance on Transfer Pricing Documentation and Country-by-Country Reporting 70 1.59 M Action 13 September 2017 update 20 195 K Action 14: Making Dispute Resolution Mechanisms More Effective 45 1.54 M Action 15: Developing a Multilateral Instrument to Modify Bilateral Tax Treaties 54 1.53 M Action Item Drafts "Action Plan on Base Erosion and Profit Sharing" OECD, July 2013 "Addressing Tax Challenges of the Digital Economy" (deliverable) OECD, 16 September 2014 (200 pages/4.70 M) "Neutralising the Effects of Hybrid Mismatch Arrangements" (deliverable) OECD, 16 September 2014 (100 pages/1.77 M); (first discussion draft) (79 pages/505 K); (second discussion draft) (14 pages/356 K) "Strengthen CFC Rules" (discussion draft) OECD, 3 April 2015 (70 pages/576 K) "Interest Deductions and Other Financial Payments" (discussion draft) OECD, 11 February 2014 (93 pages/1.48 M) (discussion draft re interest in banking and insurance) (33 pages/791 K) "Countering Harmful Tax Practices More Effectively, Taking into Account Transparency and Substance" (deliverable) OECD, 16 September 2014 (68 pages/1.48 M) "Preventing the Granting of Treaty Benefits in Inappropriate Circumstances" (deliverable) OECD, 16 September 2014 (108 pages/2.00 M); (discussion draft) (44 pages/313 K) "Preventing the Artificial Avoidance of PE Status" (discussion draft) OECD, 31 October 2014 (26 pages/144 K) (discussion draft) (314 K) "Guidance on Transfer Pricing Aspects of Intangibles" (deliverable) OECD, 16 September 2014 (132 pages/2.29 M) (discussion draft) (393 K) "Assure that transfer pricing outcomes are in line with value creation: risks and capital" (to be released) "Proposed Modifications to Chapter VII of the Transfer Pricing Guidelines Relating to Low Value-Adding Intra-Group Services" (discussion draft) OECD, 3 November 2014 (20 pages/836 K) "Establish methodologies to collect and analyse data on BEPS and the actions to address it" (discussion draft) (1.89 M) "Mandatory Disclosure Rules" (discussion draft) OECD, 1 April 2014 (82 pages/668 K) "Guidance on Transfer Pricing Documentation and Country-by-Country Reporting" (deliverable) OECD, 16 September 2014 (48 pages/3.22 M) "Make dispute resolution mechanisms more effective" (released as final draft only) "Developing a Multilateral Instrument to Modify Bilateral Tax Treaties" (deliverable) OECD, 16 September 2014 (64 pages/1.89 M) Other Interpretation and Implementation Questions, OECD, 20 May 2021 (370 K) Statement by the OECD/G20 Inclusive Framework on BEPS on the Two-Pillar Approach to Address the Tax Challenges Arising from the Digitalisation of the Economy OECD, 29-30 January 2020 (456 K) Action 4, 8-10- Transfer Pricing Guidance on Financial Transactions OECD, 11 February 2020 (666 K) (OECD announcement) Action 6- Peer review of minimum standards OECD, 29 May 2017 (OECD announcement) Action 13- Guidence on the Implementation of Country-by-Country Reporting OECD, 5 December 2016 (294 K) (OECD announcment) Action 13- Guidence on the Implementation of Country-by-Country Reporting OECD, 8 February 2017 (232 K) (OECD announcment) Action 13- Guidance on the appropriate use of information contained in CbC Reports OECD, 6 September 2017 (232 K) (OECD announcment) Action 15- A Mandate for the Development of a Multilateral Instrument on Tax Treaty Measures to Tackle BEPS OECD, 31 May 2016 (491 K) (OECD announcement) ...

IFA 2017 Annual Conference - Stephanie Smith on MLI

A document of full powers will be prepared and presented to the depositary of the Convention, who is the OECD secretary. ... Now, looking at the structure of the arbitration provision that are in the MLI, we should consider the two greatest influences on the drafting of the MLI – the EU Arbitration Convention, and the Canada-US Tax Treaty. ... Independent opinion is based on a precedent from the EU Arbitration Convention, and it would effectively work more like a court proceeding – with evidence rules and oral hearings. ...

Article 29A - Finance

In a short decision, the Federal Court of Appeal dismissed the Crown's appeal in MIL (Investments) on the basis that it was unable to find an object or purpose of the exempting provision of the Convention whose abuse would justify a departure from the plain meaning of the words of the provision. ... Domestic law provisions to prevent tax treaty abuse are endorsed by both the OECD and the United Nations (the "UN"); [FN: For example, paragraph 9.4 of the Commentary to Article 1 of the OECD Model Convention states that countries do not have to grant the benefit of a double taxation convention where arrangements that constitute an abuse of the convention have been entered into and any such denial of treaty benefits may be achieved under either a domestic law or treaty-based approach.] ... The following types of rules are generally described in the Commentary to Article 1 of the OECD Model Convention: The look-through approach disallows treaty benefits to a company owned or controlled, directly or indirectly, by persons who are not residents of a contracting state; The subject-to-tax approach provides that treaty benefits in the country of source are granted only if the income in question is subject to tax in the country of residence; and The channel approach disallows treaty benefits in cases where an intermediary company receives what would be treaty-protected income if more than 50% of that income is paid to satisfy claims (deductible amounts) of a person not resident in the country of the intermediary company and who has, directly or indirectly, a substantial interest in (or exercises management or control over) the company. ...

5 May 2021 IFA Roundtable

The underlying fact pattern of the request involved the payment of a dividend by a Canadian corporation (“Canco”) to a corporation residing in another jurisdiction (“NRCo”) with which Canada has a tax treaty (“Convention”). ... Canco requested confirmation that the Convention would apply to reduce the Canadian withholding tax rate of 25%, as provided in subsection 212(2), to a 5% withholding tax rate under the Convention, notwithstanding the MLI. ... That decision involved the potential application of the GAAR to a benefit claimed by the taxpayer under the Canada-Luxembourg Tax Convention. ...

Article 21 - Forms

Organizations- Under Article XXI of the Canada- United States Tax Convention 31March 2013 ...

27 October 2020 CTF Roundtable - Official Response

All the partners of the partnership are non-residents of Canada: some are residents of the U.S., some are residents of countries with which Canada has an income tax convention, and some are residents in countries with which Canada does not have an income tax convention. ... Does the arrangement involve a change of residence or applicable tax convention? ... Alta Energy Luxembourg S.A.R.L.,[2020 FCA 43] involving the potential application of the GAAR to a benefit claimed by the taxpayer under the Canada-Luxembourg Tax Convention. ...

Personality - Commentary

This question usually arises in considering whether the enterprise should be treated as a separate foreign affiliate under the Canadian foreign affiliate role, but also may be relevant in determining the manner of the application or relevance of an international income tax convention to the foreign enterprise. ...

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