By James Munson
The Canadian tax authority’s defeat at the Supreme Court in an offshore tax case involving grocery chain Loblaw will have a far-reaching impact on similar cases it is reviewing, and profoundly change corporate tax planning, practitioners said.
The Canada Revenue Agency had warned the court in June that defeat in its dispute with Loblaw Companies Ltd. would imperil the collection of C$1.18 billion (U.S. $920 million) in audits and objections with 14 corporate groups, including Loblaw. The court ruled in Loblaw’s favor Dec. 3.
The decision could have an even greater impact, reshaping legal advice across corporate tax planning in …
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