Glaxo TP Case: SC of Canada Reaches Verdict

On October 18, 2012, the Supreme Court of Canada (SCC) issued its decision in Her Majesty the Queen v. GlaxoSmithKline Inc. The SCC's decision generally favoured the taxpayer although final resolution was not realized. This being the first transfer pricing case decided by the SCC, the decision will have far-reaching effects on how the Canadian transfer pricing legislation is interpreted and applied. This PwC alert summarises the SCC’s ruling in the Glaxo case

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