Thank you, Mr. Chair.
Mr. Ernewein, a few moments ago one of my colleagues from the Liberal Party indicated that double-dipping is currently not allowed. In a presentation the other day by the Canada Revenue Agency, we had a very specific example of where they went to court and lost on a double-dipping case--or double exemption, if you prefer.
I want to go over this a little bit with you, explain to you what they presented to us, and then ask you a couple of questions on it.
They began with tax haven A, where company A borrowed $200 million at 10%, incurring a $20 million interest expense that they then deducted from Canadian taxes. They then loaned--