Canada’s Department of Finance announced that the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (also known as the Multilateral Instrument, or MLI) sponsored by the Organisation for Economic Co-operation and Development (OECD), has been enacted into law in Canada.
CIBC Mellon and many of its clients are required to take action by the U.S. Department of the Treasury, U.S. Internal Revenue Service (IRS) and the Canadian government (through the legislation introducing the Canada-U.S. Intergovernmental Agreement) (the "IGA") with respect to implementing the provisions of the Foreign Account Tax Compliance Act (FATCA).
The U.S. Treasury Department (Treasury) and the
U.S. Internal Revenue Service (IRS) issued proposed regulations
with guidance on how to apply withholding tax under U.S. Internal
Revenue Code (IRC) Section 1446(f).
Explore CIBC Mellon’s exclusive study of Canadian institutional investors’ shift to alternative investments. Our research highlights trends and expectations, and highlights areas where Canadians stand apart (or ahead) of global peers.