Canada: Canada’s 2015 Federal Budget: Updates On BEPS, Exchange Of Tax Information

The April 21, 2015 Federal budget released by the Conservative Government includes updates on Canada’s involvement in the BEPS project and how Canada intends to fulfill its obligations to implement an automatic exchange of tax information with the G-20. Notably (with the exception of the common reporting standard discussed below), for the first time in a number of years, the 2015 Federal Budget does not contain proposed anti-avoidance legislation aimed at international tax matters.
BEPS
In […]

By |April 28th, 2015|

Canada: 2015 Ontario Budget – April 23, 2015

Introduction
On April 23, 2015 Finance Minister Charles Sousa tabled his third Budget.

The deficit for the 2015-16 fiscal year is projected to be $8.5 billion, which is less than had been forecasted in the 2014 Budget. The deficit is projected to drop to $4.8 billion for 2016-17 and to be eliminated by 2017-18. Unlike the 2014 Budget, the 2015 Budget does not comment on achieving a surplus.

The Budget does not include any changes to Ontario’s […]

By |April 28th, 2015|

United States: Oregon Supreme Court Holds Electricity Is Tangible Personal Property For Apportionment Purposes

The Oregon Supreme Court has held that the sale of electricity constituted the sale of tangible personal property for Oregon corporation income tax apportionment purposes and should be sourced to the ultimate destination.1 In making this determination, the Supreme Court reversed and remanded the Oregon Tax Court’s holding that the sale of electricity constituted the sale of an intangible that should be sourced using costs of performance (COP). However, the Supreme Court affirmed the […]

By |April 27th, 2015|