Loblaw misused Barbados-based subsidiary to avoid taxes, CRA lawyers say

TORONTO — Loblaw Companies Ltd.’s Barbadian banking subsidiary was “playing with its own money” rather than acting as an active business with outside customers and is obligated to pay tax back home, government lawyers told a Toronto court on Wednesday.

Barbados-based Glenhuron Bank Ltd. did not meet the requirements to be considered a foreign bank under Canadian law and be exempt from paying tax to the Canada Revenue Agency, Justice Department lawyer Elizabeth Chasson said in her...

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