November 11, 2022
Canada's revised EIFEL proposals discussed
The federal government on November 3, released for public comment revised legislative proposals on the proposed excessive interest and financing expenses limitation rules (the EIFEL rules) to take into account various comments received since their initial release on February 4 (the February 4 draft legislative proposals are referred to herein as the Initial EIFEL Proposals and the November 3 draft legislative proposals are referred to herein as the Revised EIFEL Proposals). Interested parties are invited to provide comments in respect of the Revised EIFEL Proposals by January 6, 2023.
A Tax Alert prepared by Ernst & Young Canada, and attached below, provides additional details.
Full text of Tax Alert