Canada releases further revisions to EIFEL proposals
|Tax Alerts, Information Reporting, Legis ...|Canada
Revised legislative proposals for Canada's proposed excessive interest and financing expenses limitation (EIFEL) rules were released for public comment on 4 August 2023.
The stated objective of the proposed EIFEL rules is to address base erosion and profit shifting concerns arising from taxpayers deducting excessive interest and other financing costs, principally in the context of multinational enterprises and cross-border investments.
The revised EIFEL proposals largely align with the previously…
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