Supreme Court ruling makes corporate tax dodging easier: Queen's University expert
Queen’s University tax law expert Art Cockfield is available to talk about today’s Supreme Court tax law ruling in favour of GlaxoSmithKline Inc.
Prof. Cockfield feels the ruling on ‘transfer pricing’ will make it easier for foreign companies to dodge Canadian tax liabilities.
“The Glaxo decision by the Supreme Court of Canada is a very important case as it looks for the first time in a comprehensive fashion at so-called 'transfer pricing' tax laws. These are the international tax laws that determine how much multinational corporations pay in tax to Canada; a large multinational firm may owe Canada amounts that exceed hundreds of millions in tax revenues so the stakes are huge for the Canadian government. The Supreme Court decision, however, supported Glaxo’s argument that it did not owe more taxes to Canada and thus may make it easier for foreign companies to dodge Canadian tax liabilities in the future,” says Prof. Cockfield.
Prof. Cockfield is a tax law expert and has writing several books dealing with transfer pricing issues.
Please note Prof. Cockfield is not available between 2:45 to 5 p.m. on Thursday, Oct. 18.
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