Feature
Canada to open door to foreign investment by eliminating Section 116 tax clearance requirements for certain stock sales by non-residents
- Choate Alerts
- March 8, 2010
- by Tax Group
What you need to know:
US venture capital and private equity funds should soon be able to sell stock of most Canadian companies in which they invest without the cumbersome and costly Section 116 tax clearance procedures now required.
What you need to do:
Funds should reevaluate the attractiveness of investing in Canada. Funds that have invested in Canada through an offshore intermediary company should consider liquidating the intermediary.
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