Translation of "crédit d'impôt fictif " (French → English) :

tax saving credit | tax sparing

tax sparing

tax saving credit | tax sparing credit

training tax credit

phantom tax

tax relief [ relief from taxes | tax abatement | tax advantage | tax allowance | tax concession | tax credit | tax deduction | tax reduction | Tax incentive(STW) | tax credits(UNBIS) | tax deductions(UNBIS) ]

investment tax credit | investment credit | ITC

Mr. McKay: Perhaps it would be of assistance to reference a 2001 Canadian Tax Journal article entitled ``Tax Sparring: Good Intentions, Unintended Results'.

first, that provision permits the grant of a tax credit, the notional withholding tax, to the recipients of income from debt-claims or loans granted to a coordination centre, within the meaning of Royal Decree No 187 of 30 December 1982 on the creation of coordination centres, when the company which uses the funds borrowed by or through the coordination centre in order to acquire a tangible asset which it uses in Belgium in the exercise of its business activity, confers the right to use that asset on a company which forms part of the same group of companies and which is resident in Belgium, whereas, second, that provision does not permit ...[+++] the grant of a tax credit when the same company confers a right to use the same tangible asset on a company which also forms part of the same group of companies but which is resident in a Member State other than Belgium?

Must Article 10 EC, read in conjunction with Article 49 EC, be understood as prohibiting an interpretation of a provision such as Article 29(2)(d) of the Law of 11 April 1983, which makes the grant of a tax credit, the notional withholding tax, to the recipients of income from debt-claims or loans granted to a coordination centre, within the meaning of Royal Decree No 187 of 30 December 1982 on the creation of coordination centres, subject to the condition that no right to use the tangible asset financed by means of those debt-claims or loans is conferred on a member of the group established in another Member State, by any company in the ...[+++] group, and not only by the company which acquires the tangible asset through that financing, and which uses it in Belgium in the exercise of its business activity?

In conclusion, budget 2006 has left Canadians wondering why the Conservatives are recreating fictional tax credits rather than adhering to the sound fiscal legacy and the healthy budget surplus left to them by their Liberal predecessors.