Baker McKenzie maintains its dominant tax practice in Canada, with the team based out of Toronto under the leadership of Christopher Raybould. The firm’s transfer pricing practice serves its clients from the planning stage through dispute resolution and litigation. It represents key players in virtually all sectors, including automotive, pharmaceuticals, electronics, chemicals, banking and finance.
The firm’s transfer pricing experience is exhibited in its role as litigation counsel and audit/administrative appeals management counsel to a major global manufacturing company. The firm’s representation was notable due to the unique and non-litigated interaction of the thin cap-rules, varying accounting principles and different jurisdictions’ generally accepted accounting principles in the determination of equity for income tax purposes.
The team recently added Andrew Morreale and Bryan Horrigan as mid-level associates.
David Kemp is in charge of Collins Barrow’s transfer pricing practice, which focuses on the middle market. Collins Barrow’s transfer pricing practice offers services in planning, documentation and dispute resolution, including: risk assessment, benchmarking, intangible transactions, financial transactions, among other areas. The professionals in the practice are specialists in transfer pricing solutions. The firm has offices in every region of the country and affiliates around the world, enabling it to handle transactions wherever clients do business.
Blake Cassels & Graydon’s transfer pricing practice is recognised for its specialised knowledge in dealing with a range of complex tax and transfer pricing disputes. It has a long history of successfully advising Canadian, US, European and Asian multinationals on issues such as planning global transfer pricing strategies, cost-sharing agreements, competent authority proceedings and securing APAs.
The team is active in virtually every industry, including some of the more niche areas such as cannabis and non-profits. It represents numerous taxpayers in MAP and APA proceedings.
In the last year, the firm welcomed Annika Wang, Aideen Brennan, and Monica Cheng as associates.
Grant Thornton has one of Canada’s largest transfer pricing practices with 25 full-time members, including three partners and one associate partner. One third of the firm’s capabilities are dedicated to transfer pricing planning and consulting, with a focus on policy structuring and implementation assistance. Another third of the practice is devoted to controversy management, including supporting clients throughout tax authority examination, appeal, competent authority and litigation. The last third of the practice relates to the provision of traditional annuity transfer pricing compliance assistance to long-standing clients, including the drafting of transfer pricing documentation. Brad Rolph oversees the practice.
The team’s experience is exhibited in its representation of a global software developer in providing tax and transfer pricing advisory services relating to a BEPS restructuring of a major European multi-billion dollar multinational in the software industry. The case addressed cross-border restructuring and the licensing of intangible assets. It simultaneously managed the restructuring, a European tax authority audit and an income tax ruling procedure.
The firm has also published much information in connection with BEPS.
It welcomed Roderik Vehmeijer as a partner, and Avinash Tukrel as well as Evgenya Nee as senior managers in the past year.
KPMG Canada’s transfer pricing practice is focused in transfer pricing planning, controversy and compliance. The practice has developed an expertise in economic consulting services that extends beyond transfer pricing services, notably in the area of production economics. Furthermore, it is involved with business strategy and operation planning in the context of value chain management projects.
The team has the largest tax practice in Canada with more than 1,500 tax professionals and 283 partners, offering services around the globe.
McCarthy Tétrault maintains a strong presence in Canada with offices in each of the four principal business cities: Vancouver, Calgary, Toronto and Montreal. Its transfer pricing practice offers services in transfer pricing structuring, inter-company arrangements, transfer pricing disputes, APAs and competent authority settlements. Patrick McCay serves as the practice group leader in Toronto.
The firm’s experience can be exhibited in its role representing a global company in negotiating with opposing governments and adverse commercial counterparty several indemnity, collateral, and refund issues. While such issues were relatively novel for both the CRA/IRS, the tax counsel at McCarthy achieved a highly successful outcome for the client.
The firm welcomed Fred Purkey, Nicolas Desy and Salvatore Mirandola as partners recently.
McMillan’s transfer pricing practice acts as counsel to a number of multinationals in Canada and around the world. Mickey Yacksich, one of Canada’s foremost transfer pricing practitioners, leads the team. It represents clients in a variety of industries, with Yacksich having particular expertise in the automotive sector.
The firm is comprised of four partners and four other professionals, among these practice lead Michael Friedman who has extensive experience in structuring domestic and multinational commercial acquisitions, divestitures, reorganisations and business combinations. The team welcomed Ragu Anghel as a senior economist in 2017. Anghel is another leader among Canada’s transfer pricing experts.
Osler Hoskin & Harcourt is widely considered one of Canada’s best law firms for tax planning and transfer pricing services. Its transfer pricing practice has acted on two of the largest and most significant tax litigation cases ever in Canada: Cameco and Wheaton Precious Metals, both of which have set precedents around the world. It is also highly experienced in matters relating to the general anti-avoidance rule.
The team’s extensive experience with transfer pricing matters is highlighted in the firm’s representation of Cameco for a total value of C$1.3 billion in Cameco Corporation v. The Queen, Court File No. 2009-2430(IT)G. The case involved questions as to whether the profits realised by a subsidiary based in Switzerland on uranium purchased from and sold to its Canadian parent company (and purchased by the Swiss subsidiary from third parties) should be attributed to the Canadian parent company. Based on reassessments that have been issued for the 2003-2007 period, the Canada Revenue Agency has taken the position that C$1.3 billion in earnings that Cameco reported as foreign earnings for that period should have been reported as Canadian earnings for tax purposes. The trial concluded in late 2017, and the decision will be of consequence to anyone involved in transfer pricing planning and implementation, corporate taxpayers, multinationals and legal and tax advisers.
The team is thrilled to welcome The Honourable Marshall Rothstein, and David Jacyk to the firm.