Canada's Department of Finance has announced the release of draft legislation to address hybrid mismatch arrangements. The draft is the first of two packages for the implementation of the recommendations of the BEPS Action 2 Report. The first package implements recommendations in Chapters 1 and 2 of the Action 2 Report, generally covering hybrid financial instruments with effect from 1 July 2022. Comments on the first package must be submitted by 30 June 2022. The second legislative packag…