Claire M.C. Kennedy

Claire M.C. Kennedy

Bennett Jones LLP

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CRA Releases Important Transfer Pricing Guidance on Management Fees and Other Intra-Group Services

CRA recently released a new Transfer Pricing Memorandum (TPM-15) giving detailed guidance on CRA’s audit approach to management fees and other charges for intra-group services, including on allocation keys for indirect...more

2/25/2015 - Canada Corporate Taxes Multinationals OECD Transfer Pricing

Canadian Customs Authority Shifts Gears on Import Duty Refunds

The CBSA has made a long-sought-for change in its policy to allow duty refunds in the event of qualifying downward transfer price adjustments by importers. The change comes on the heels of victory by Bennett Jones in a test...more

1/19/2015 - Auto Parts Automotive Industry Canada CBSA Duties Importers

Canadian Importers May Now Seek Import Duty Refunds

Since the introduction of the Transaction Value System of customs valuation by Canada on January 1, 1985, the Canada Border Services Agency (CBSA) has maintained a stated policy of denying refund claims of related party...more

1/19/2015 - Canada CBSA Customs Duties Importers Imports

BEPS Tail Shouldn’t Wag Global Investment Dog

I spoke recently on a panel in Tokyo on the future of international tax planning after BEPS (the OECD’s & G20’s Action Plan to counter Base Erosion & Profit Shifting). The panel also featured a senior official at the OECD and...more

11/18/2014 - BEPS Canada G20 OECD Tax Planning

BC LNG Tax Regime: Rate Concessions and New Tax Credit but Uncertainty Remains

On October 21, 2014, the British Columbia government introduced Bill 6, the Liquefied Natural Gas Income Tax Act (LNGITA). The LNGITA proposes a two-tier tax on income derived from liquefaction activities at liquefied natural...more

10/27/2014 - Canada Income Taxes Liquid Natural Gas Oil & Gas Tax Credits

Judicial Review Application Preserved in Transfer Pricing Penalty Case

A recent Federal Court of Appeal (FCA) case illustrates how contentious transfer pricing disputes can be – even one a taxpayer believed had been resolved! It also represents a rare situation in which the taxpayer’s...more

10/2/2014 - Appeals Canada Judicial Review Transfer Pricing

Revised CRA Policy Heralds Focus on Contemporaneous Transfer Pricing Documentation

CRA released an updated transfer pricing memorandum, TPM-05R, Requests for Contemporaneous Documentation, in March, which describes the procedural aspects of transfer pricing documentation requirements in substantially more...more

7/8/2014 - Compliance CRA Transfer Pricing Transfers

Tax Effective Use by Canadian Online Retailers of Bermuda Operations for International Expansion - 2011 Canada-Bermuda Tax...

E-tail Foreign Market Opportunity - The growth of online retail sales has globally outstripped the growth of all other retail channels, including during the last recession. For example, in England during 2012, it has...more

6/11/2014 - Canada E-Commerce International Tax Issues Internet Internet Taxation Retailers

Businesses Face More Onerous Transfer Pricing Documentation and Country-by-Country Tax Reporting

The OECD proposes to reform transfer pricing documentation for multinational enterprises and to impose onerous country-by-country (CbC) reporting obligations, including disclosure of taxes paid in each country in which a...more

2/28/2014 - Corporate Taxes International Tax Issues Multinationals OECD Transfer Pricing

Taxpayer Loses Canadian Transfer Pricing Case

A recent transfer pricing case from the Tax Court of Canada (McKesson Canada Corporation v The Queen) establishes a broad interpretation of the “regular” (non-recharacterization) transfer pricing rule in the Income Tax Act...more

1/23/2014 - Canada Corporate Taxes Multinationals Tax Liability Transfer Taxes

Supreme Court Endorses Key Tax Principle: Tax Law Should Follow Private Law Agreements

The Supreme Court of Canada recently endorsed a fundamental principle in Canadian tax law – namely that absent sham or statutory recharacterization rules, “tax law applies to transactions governed by, and the nature and legal...more

12/13/2013 - Canada OECD Rectification SCC Tax Deferral Transfer Pricing

OECD Launches Action Plan on Base Erosion and Profit Shifting

The OECD released its Action Plan on Base Erosion and Profit Shifting (BEPS) on Friday. The BEPS initiative was launched earlier this year at the request of the G20 to counter alleged abuses by multinational corporations to...more

7/23/2013 - Erosion G20 Income Tax Treaty Income Taxes Multinationals OECD Profit Sharing Tax Treaty Transparency

OECD Revising Intangibles Transfer Pricing Discussion Draft

At the OECD International Tax Conference in DC on June 3 and 4, Joe Andrus, Head of the OECD’s Transfer Pricing Unit, announced that the OECD’s Discussion Draft on Intangibles released in 2012 is under revision in two key...more

6/11/2013 - Intangibles OECD

International Tax & Transfer Pricing Strategies in the Crosshairs

The OECD recently issued a report targeting corporate tax planning and transfer pricing strategies, which it asserts constitute a serious risk to tax revenues, tax sovereignty among nations and tax fairness. (OECD (2013),...more

2/22/2013 - Corporate Taxes Cross-Border Transactions International Tax Issues Multinationals OECD Tax Planning Transfer Pricing

Marketing Intangibles in International Transfer Pricing

An Indian tax appellate tribunal has recently ruled on the issue of marketing intangibles in a transfer pricing case involving the Indian manufacturing and sales subsidiary of the Korea-based LG Electronics Inc. In that case,...more

1/29/2013 - CRA Intangibles Marketing Subsidiaries Transfer Pricing

Supreme Court of Canada Establishes Important Principles in Transfer Pricing

The Supreme Court of Canada recently released its judgment in The Queen v Glaxo Smith Kline Inc.,1 (Glaxo), which is the Court's first pronouncement on Canada's transfer pricing rules. Transfer pricing involves the allocation...more

12/3/2012 - Cross-Border Double Taxation License Agreements Patents Tax Penalties Transfer Pricing

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