Supreme Court of Canada releases decision in GlaxoSmithKline transfer pricing case

Tax Insights ()

On October 18, 2012 the Supreme Court of Canada (SCC) issued its decision in the case of Her Majesty the Queen v. GlaxoSmithKline Inc. The Court’s decision generally favoured the Taxpayer although final resolution was not realized with today’s decision.

This being the first transfer pricing case decided by the SCC, the decision will no doubt have far-reaching effects on how the Canadian transfer pricing legislation is interpreted and applied.