Canadian Budget Proposes New Cross-border Interest Deductibility Limit
By EsqSocial Corporation 26/04/21
The 2021 Canadian Federal Budget, released on April 19, 2021, proposes new rules that would fundamentally alter the interest deductibility landscape for Canadian businesses. The thrust of the new rules (referred to herein as the EBITDA Limit), which are proposed to take effect in 2023, is to directly link an entity's interest deductions to its level of economic activity, based on taxable income before interest, tax, depreciation and amortization....
By: Bennett Jones LLP