Debt or Equity? The Characterization of Hybrid Financial Instruments Under the Jurisprudence of Barejo Holdings v. C (2021 FCA) for Canadian tax purposes
Debt or Equity? The Characterization of Hybrid Financial Instruments Under the Jurisprudence of Barejo Holdings v. C (2021 FCA) for Canadian tax purposes
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La innovación financiera abarca los derivados básicos (es decir, forwards, futuros, opciones y swaps), pero no hay razón para que se limite únicamente a ellos. Esencialmente, el término “derivados” incluye todos los instrumentos o arreglos híbridos y sintéticos; a menudo, si no es que usualmente, consisten en alguna combinación de un activo u obligación principal (es decir, deuda y capital) con uno o más de los cuatro derivados principales. Los tribunales canadienses han establecido que los instrumentos financieros híbridos deben caracterizarse, para fines fiscales, como deuda o capital, según la sustancia de la transacción. En este contexto, los tribunales canadienses, en el caso Barejo, proporcionan el criterio para determinar si un instrumento financiero híbrido constituye deuda para efectos del impuesto sobre la renta.
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(Hybrid instruments)
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