Canada releases further revisions to EIFEL proposals

18 August 2023|Tax Alerts, Information Reporting, Legislation & Policy, National/Federal Taxation|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…

Continue reading with a Pro Subscription

Unlock full Orbitax Tax News content, including a historical database of tax news, alerts, and analysis from our network of tax experts, all tailored to your company footprint. Now includes Orbitax XatBot AI Tax Assistant.

Free trial available. Cancel anytime. Free Orbitax account required.