Claire Kennedy comments in Bloomberg BNA on the CRA's aggressive pursuit in taxing CIT Group Securities (Canada) Inc. on interest income earned by its affiliates in Barbados. The Tax Court of Canada ruled in CIT's favour. The CRA was criticized for dedicating scarce resources to pursue a case which was obviously weak. CIT clearly operates as a lender in Barbados and in the US.
In The News
Claire Kennedy in Bloomberg: CIT Interest Income Case in Canada Tax Court
July 22, 2016
Republishing Requests
For permission to republish this or any other publication, contact Peter Zvanitajs at ZvanitajsP@bennettjones.com.
For informational purposes only
This publication provides an overview of legal trends and updates for informational purposes only. For personalized legal advice, please contact the authors.
Latest Insights
See All Insights
Blog
J. Sébastien A. Gittens, Stephen D. Burns & Ahmed Elmallah
Hiding in the Shadows: The Perils of Shadow AI on Your Organization
January 10, 2026
Blog
Denise D. Bright, Keely Cameron & Chyna Brown
Alberta Court of Appeal Clarifies PPSA Priorities in Insolvency Sales
January 7, 2026Blog
Katherine Booth & Nina Butz
BC Court of Appeal Dismisses Proposed Privacy Class Action; Finds Use of Professionals' Names Was Not Commercial Exploitation
December 23, 2025
Blog
& 1 more
Quantum Computing Investments Aligning with Canada's Defence Priorities
December 23, 2025