 | Canadian subsidiary may deduct interest on intercompany loan, court rules |
March-16-2016
| Lawyer | Carrie Smit |
| Area | Tax |
Summary
Article originally published in the Multinational Tax & Transfer Pricing News
Excerpt from "Canadian subsidiary may deduct interest on intercompany loan, court rules":
The Canadian Federal Court of Appeal on March 4 delivered its judgment in The TDL Group Co. v. The Queen (2016 FCA 67), holding that a Canadian company is entitled to deduct interest on a loan used to acquire shares of its US subsidiary. In so deciding, the Court overruled the Tax Court of Canada’s 2015 decision in the case.
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