The Tax Man Still Wins in Space
A judge has ruled that Cirque du Soleil founder Guy Laliberte can’t claim a 2009 trip to the ISS as a business expense.
Laliberte claimed his trip to space was not a taxable benefit because he promoted Cirque du Soleil and the company’s recent entry into the Russian market with a new show during his time on the ISS. The Canada Revenue Agency challenged this narrative, prompting the Tax Court of Canada to weigh in. […] the Tax Court of Canada ruled that Laliberte’s trip was for “overwhelmingly” personal reasons and that only 10 per cent of the expenses, or $4.2 million, could be considered business related for Cirque du Soleil promotional activities and the One Drop Foundation. Catch the full article here: https://bit.ly/2FCnsS8