News
TEI Bestows President’s Award on Evan Ernest and Honorary Membership on James Silvestri
Two of the highest honors a TEI member can receive are the Institute’s President’s Award and honorary membership. At the 2024 Midyear Conference in Washington, D.C., in March, TEI gave the President’s Award to Evan Ernest and honorary membership to Jim Silvestri. Here’s a brief summary of the impressive careers… Read more »
TEI Comments on Canadian DST
On September 8, TEI submitted comments on a revised draft of the Canadian Digital Services Tax (DST) to the Department of Finance Canada. The comments included requests that 1) Canada join with the other 138 countries collaborating on the OECD’s Inclusive Framework to support the extension of the multilateral negotiations… Read more »
Cleveland Chapter
Hosts 7th Annual Scholarship Golf Outing
On September 18, TEI’s Cleveland Chapter hosted its Seventh Annual Scholarship Golf Outing at Signature of Solon Country Club. This year’s outing included twenty-seven teams sponsored by seventeen firms, a new record for the chapter. Proceeds from the golf outing support scholarships for students who have an interest in a… Read more »
TEI Submits Comments on Canada’s Proposed GAAR Penalty
On September 8, TEI submitted comments to the Canadian Department of Finance regarding the department’s proposed tax penalty for transactions held subject to Canada’s general anti-avoidance rule (GAAR). TEI’s comments focused on the need for the GAAR penalty to have a true due diligence defense to its imposition and include… Read more »
TEI Submits Comments on Canada’s Bare Trust Reporting
On September 27, TEI submitted comments to the Canada Revenue Agency regarding new rules for reporting “bare trust arrangements.” TEI’s comments focused on the compliance burden the new rules would impose on corporations and other businesses, which in most cases would be duplicative of other reporting requirements already imposed on… Read more »
TEI Files Comments on Canada’s Proposed Pillar Two Legislation
On September 29, TEI submitted comments to the Department of Finance Canada regarding its proposed legislation to implement Pillar Two of the Organisation for Economic Co-operation and Development’s project on the taxation of the digitization of the economy. Canada’s legislation, titled the Global Minimum Tax Act, encompasses most, but not… Read more »
TEI Files Comments on the GloBE Information Return
On October 6, TEI submitted comments to the Organisation for Economic Co-operation and Development (OECD) and the European Commission regarding the GloBE Information Return (GIR) under Pillar Two of the OECD’s two-pillar approach to the tax challenges arising from the digitization of the economy. TEI’s comments focused on the volume… Read more »
TEI Files Comments on Canada’s Excessive Interest and Financing Expenses Limitation Rules
On September 13, TEI submitted comments to the Department of Finance Canada regarding proposed legislation that would implement an excessive interest and financing expenses limitation (EIFEL). TEI’s comments addressed the proposed implementation date of the EIFEL rules, the need to except existing debt obligations from the rules for a period… Read more »
Pillar One—Amount B: TEI Comments to the OECD
On September 1, TEI submitted comments responding to the Organisation for Economic Co-operation and Development’s (OECD’s) public consultation document regarding Pillar One—Amount B. TEI recommended the OECD make Amount B an elective safe harbor for multinational enterprises, increase the scope of the definition of “distributor,” and enhance the mechanisms for… Read more »
TEI Comments on Canadian Draft RUTT Form
On June 7, TEI submitted comments to the Canada Revenue Agency (CRA) regarding the draft Reportable Uncertain Tax Treatment (RUTT) form. Taxpayers must use the RUTT form to report certain items depend-ing on how those items are treated on a taxpayer’s relevant financial statements. TEI’s comments focused on recommendations to… Read more »
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