Thank you very much.
In terms of the impact of this, I think it's directly an efficient way of modifying our tax treaties to ensure that inappropriate treaty abuses are constrained. In terms of its overall impact I would situate that in the context of the so-called BEPS exercise, the base erosion and profit shifting exercise, more generally.
This is part of the delivery on the exercise that took place between 2013 and 2015, with the report that was ratified by G20 countries, including Canada, and ultimately over a 100 countries to make a number of important changes to the international tax architecture, including this, the treaty abuse provisions principally in this rule, the country-by-country reporting for large multinationals to make sure there's better understanding of the allocation of profits and when those profits seem to be allocated in possibly an inappropriate way bearing further examination, exchange of tax rulings for better information, and transfer pricing standards were improved. Those were the minimum standards, if you will, the obligatory changes, and then there are other optional changes as well that were part of the BEPS exercise.
Taken as a whole, I think it's very impactful in terms of the international tax system.