Claire Kennedy in Bloomberg on Rio Tinto Canada Tax Case

Claire Kennedy comments in Bloomberg BNA on the Tax Court of Canada ruling that Rio Tinto Alcan Inc. can deduct C$51.6 million in legal, banking and regulatory costs used to acquire a competitor and to spin off a business unit. Claire said the ruling provides welcome clarity on the age-old question of income versus capital in the context of merger and acquisition transactions under evolved and evolving standards of corporate governance.