On November 3, 2022, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance released the Canadian federal government’s Fall Economic Statement 2022 (the “Economic Statement”). The 82-page document was accompanied by two legislative proposals, one dealing with the Excessive Interest and Financing Expenses Limitation (EIFEL) rules and the other pertaining to reporting rules for digital platform operators.
While the primary focus of the Economic Statement is the economic outlook for Canada in light of rising inflation and slowing economic growth, the document and draft legislation provided some additional details regarding both new and previously-announced tax measures. These are summarized below.
