| The Department of Finance has introduced revised draft legislation relating to Excessive Interest and Financing Expenses Limitation (EIFEL) rules, which is proposed to apply to taxation years beginning on or after Oct. 1, 2023. The stated objective is to address concerns arising from taxpayers deducting excessive interest and other financing expenses, principally in the context of multinational enterprises and cross‑border investments, but these rules may also apply to some Canadian businesses. |
