Patrick Marley - Tax Lawyer

Patrick Marley

Partner, Tax

Co-Chair: Tax

Contact Information

tel: 416.862.6583



Patrick is Co-Chair of Osler’s National Tax Group (alongside Edward Rowe), and the former President of the Canadian branch (and former chair of the North American region) of the International Fiscal Association. His practice includes all aspects of corporate income tax with an emphasis on international tax planning, domestic and cross-border mergers and acquisitions, corporate reorganizations and corporate finance.

Patrick has experience representing clients in various industries including financial services, mining, telecommunications, manufacturing and technology. Patrick has appeared before the Canadian House of Commons Standing Committee on Finance and the Canadian Senate Banking Committee as an expert on international tax matters. Prior to joining Osler, Patrick worked in the Canadian Department of Finance where he was extensively involved in drafting legislation and formulating tax policy related to foreign affiliates, foreign source income and foreign investments.

Patrick is a frequent author and speaker at conferences on various Canadian tax matters and is regularly ranked for his expertise in tax law by Chambers Global, Lexpert Guide to Leading 500 Lawyers in Canada, Best Lawyers in Canada, Legal 500, Who’s Who Legal, and Acritas Stars. Patrick received the Bloomberg BNA: Leonard L. Silverstein Award for Distinguished Service in International Tax.

  • Kinross Gold Corporation

    Kinross Gold Corporation in US$500 million offering of unsecured notes offering

  • CNH Industrial

    CNH Industrial in its agreement to acquire Hemisphere GNSS for $175 million

    • TELUS International in its US$1.225 billion acquisition of WillowTree
    • Kinross Gold Corporation in its US$225 million sale of Chirano mine to Asante Gold Corporation
    • Verisk Analytics in its acquisition of Opta
    • Bank of Montreal in its US$16.3 billion acquisition of Bank of the West
    • Kinross Gold Corporation in its US$1.4 billion acquisition of Great Bear Resources
    • TELUS Health Solutions Inc. in connection with the restructuring of ChronoMétriq Inc. and Health Myself Innovations Inc.
    • TELUS International in its US$563 million secondary offering
    • Battle North Gold Corporation in its acquisition by Evolution Mining Limited
    • The Estée Lauder Companies Inc. in its agreement to increase its ownership in DECIEM Beauty Group Inc.
    • TELUS International in its US$1.06 billion initial public offering
    • Ontario Teachers' Pension Plan Board in its investment in Duo Bank of Canada in connection with Duo Bank of Canada’s acquisition of Fairstone Financial Holdings Inc.
    • TELUS Corp. in its $1.2 billion acquisition of Lionbridge AI
    • The Bank of Nova Scotia in the sale of its Caribbean banking operations to Republic Financial Holdings Limited
    • The Special Committee of The Intertain Group Limited in the completion of its strategic review and implementation of its UK Strategic Initiatives, including a plan of arrangement to facilitate the acquisition of Intertain by Jackpotjoy plc in a share-for-share exchange and the creation of an associated exchangeable share structure and the listing of the Jackpotjoy plc ordinary shares on the London Stock Exchange plc
    • Fusion Pharmaceuticals Closes an Oversubscribed US$46 Million Series A Financing
    • TELUS Corporation in connection with its acquisition of more than 100,000 wireless customers in Manitoba from BCE in connection with BCE’s acquisition of MTS (ranked as one of Listed Magazine’s Top 10 M&A deals for 2016)
    • Kinross Gold Corporation on the sale of its 25% interest in the Cerro Casale project in Chile and 100% interest in the Quebrada Seca project to Chile, Goldcorp Inc. for consideration including US$300-million in cash
    • Starz Entertainment in its $4.4 billion sale to Lions Gate Entertainment Corp.
    • Royal Bank of Canada in the acquisition of City National Corporation for approximately US$5.4 billion
    • BMO Financial Group in the acquisition of GE Capital's Transportation Finance business in the U.S. and Canada with net earning assets of approximately C$11.9 billion
    • Telus Communications Inc. v. A.G. of Canada, 2015 ONSC 6245 in the granting of a rectification order
    • Hydro One Limited in its $1.66 billion Initial Public Offering
    • Tim Hortons in connection with its $13 billion acquisition by an affiliate of Burger King Worldwide, Inc.
    • Kinross Gold Corporation in connection with the sale of its Fruta del Norte project in Ecuador to Fortress Minerals
    • Bank of Montreal in connection with its acquisition of F&C Asset Management plc
    • Royal Bank of Canada in connection with its acquisition of the Canadian automobile finance and deposit business of Ally Financial Inc.
    • Ontario Teachers’ Pension Plan in connection with their joint acquisition of Q9 Networks with Bell Canada, Providence Equity Partners and Madison Dearborn Partners for approximately C$1.1 billion in cash
    • TD Securities (USA) LLC v. The Queen, 2010 TCC 186 - Overturned the CRA’s long-standing policy of denying treaty benefits to US limited liability companies
    • BMO Financial Group in connection with its 2011 acquisition of Marshall & Ilsley Corporation
    • China Investment Corporation in connection with its subsidiary’s $1.26 billion investment in PennWest Energy
    • BMO Financial Group in its acquisition of the Diners Club North American Franchise from Citigroup
    • Kinross Gold in its acquisition of Red Back Mining Inc. (largest M&A transaction in Canada in 2010)
    • Royal Bank of Canada in its US$2.2 billion acquisition of RBTT Financial Group
    • Royal Bank of Canada in its $1.35 billion acquisition of Phillips, Hager & North Investment Management Ltd.
    • Toronto-Dominion Bank in its US$8.5 billion acquisition of Commerce Bancorp Inc.
    • China National Petroleum Corporation (CNPC) in its US$4.2 billion acquisition of PetroKazakhstan Inc. (then the largest foreign acquisition by a Chinese company), and the subsequent sale of 33% interest in PetroKazakhstan to JSC KazMuniGas
  • Find More

  • International Tax Review: North American Tax Practice Leader of the Year
  • Chambers Canada: Canada’s Leading Business Lawyers: Recognized in Tax (Band 1)
  • Chambers Global: The World's Leading Lawyers for Business: Recognized in Tax (Band 1)
    • "Patrick Marley has a wealth of experience in reorganisations, finance and cross-border M&A. Clients describe Marley as their "go-to guy" for international tax planning"
  • The Lexpert/American Lawyer Guide to the Leading 500 Lawyers in Canada: Recognized in Corporate Tax
  • The Canadian Legal Lexpert Directory: Recognized in Corporate Tax; Toronto’s leading corporate tax lawyers in 2021
  • Best Lawyers in Canada: Recognized in Taxation Law
  • Legal 500: Recognized as a Leading Lawyer, Tax
  • Who’s Who Legal: Recognized in Thought Leaders - Corporate Tax - Advisory; Corporate Tax - Advisory (International); Corporate Tax (Canada)
    • “Noted for his experience of sizeable corporate acquisitions and tax planning”
  • International Tax Review: Recognized in General Corporate Tax as a Highly Regarded lawyer
  • Bloomberg: Received Bloomberg BNA: Leonard L. Silverstein Award: International Taxation

  • International Fiscal Association, Past President and Member of Counsel
  • International Fiscal Association, Former Chair of North American Region
  • Canadian Tax Foundation
  • American Bar Association, International Section, Past Co-Chair of Taxation Committee
  • New York University, International Tax Program Practice Council
  • Ontario Bar Association
  • New York Bar Association

Patrick is a contributing editor for Tax Management Business Operations in Canada, and is a regular contributor to Tax Management International Journal. Other publications include:

  • Osler submission to OECD advocates for narrow application of Global Anti-Base Erosion Proposal (with K. Gray, T. Cao and K. Hawkins-Schluz), Osler Update, December 3, 2019
  • Osler submission to OECD on Public Consultation Document for “Unified Approach” under Pillar One (with K. Gray, T. Cao and K. Hawkins-Schulz), November 11, 2019
  • Unilateral or Unified:  Canada’s Approach to Taxing Digital Services, Tax Management International Journal (with K. Gray, T. Cao, and K. Hawkins-Schulz), November, 8, 2019
  • OECD proposes significant international tax changes that will impact multinationals, Osler Update (with K. Gray and T. Cao), October 9, 2019
  • CRA's Interpretation of OECD Transfer Pricing Guidelines Appears Inconsistent with Canadian Law - Tax Management International Journal, October 12, 2018
  • Canadian Royalty Payments to Non-Residents, Bloomberg BNA – Tax Management International Journal (with E. Gilmour), October 13, 2017
  • International Tax Issues in Mergers and Acquisitions, ABA 2017 Section of International Law Spring Conference – Washington (with R. Misey, H. Knott, and P. Fuller), April 28, 2017
  • OECD’s Multilateral Instrument for the Implementation of Tax Treaty-Related BEPS Measures, IFA 2017 International Tax Conference, April 25, 2017
  • Are Private Equity Funds and Their Investment Entities Entitled to Tax Treaty Benefits? Tax Management International Journal – Bloomberg BNA, February 10, 2017
  • OECD’s MLI: Will tax treaty benefits apply to private equity investors? Article for the PE Hub Network, January 24, 2017
  • Are private equity and other collective investors entitled to tax treaty benefits? Osler Update, January, 2017
  • Supreme Court of Canada clarifies the remedy of rectification in Canadian tax cases, Osler Update, December 12, 2016
  • Significant tax treaty changes proposed in multilateral convention, Osler Update, November, 2016
  • Canada-U.S. Investment – Canadian Tax Perspective “Acquiring a Canadian Corporation:  Canadian Tax Considerations”, Tax Management International Journal Article (with David Wilson), November 2016
  • BEPS:  Another Year Older and Another Year Wiser, Bloomberg BNA:  2nd Annual International Tax Conference – Canada and Beyond, August 31, 2016
  • Cross-Border IP Planning Post-BEPS, IFA International Tax Conference – Montreal, May 26 & 27, 2016
  • Taxpayer wins interest deductibility case at Federal Court of Appeal:  The TDL Group Co. v. The Queen, 2016 FCA 67, Osler Update, March, 2016
  • International Tax Planning for Canadians in a World of Changing Rules – What International Tax Reforms Could/Should Canada Consider? Canadian Tax Foundation Presentation with V. Sider, P. Halvorson and L. Chapman, February 9, 2016 
  • BEPS recommendations could significantly affect cross-border trade, Osler Update, December, 2015
  • Saving the Planet (and Taxes) Accessing Green Energy Incentives, ABA Section of International Law – 2015 Fall Meeting, October 20-24, 2015
  • International Tax Reform 2015-BEPS Final Reports, Osler Update, October, 2015
  • Treaty Shopping – OECD Releases Revised Discussion Draft on BEPS Action 6, Osler Update, May, 2015
  • From Theory to Practice:  Practical Consequences of BEPS in Cross-Border Deals, ABA Section of International Law 2015 Spring Meeting, May 2015
  • International Tax Update – OECD/G20 BEPS Project, Tax Executives Institute, March 2015.
  • BEPS Symposium:A Canadian Perspective, IFA/CTF, February 2015.
  • Cross Border Cash Pooling Arrangements Involving Canadian Subsidiaries:  A Technical Minefield, Tax Management International Journal, June 13, 2014
  • Impact of BEPS Report and Other Changes on Existing Structures and Proposed Commercial Transactions, IBA/CIOT Conference, February 2014
  • Treaty Shopping Review, Canadian Tax Foundation Conference, November 2013
  • International Highlights in Canada’s 2013 Budget, Tax Notes International, Volume 70, Number 1, April 1, 2013
  • A Review of Foreign Affiliate Reorganization Rules After Recent Amendments, Canadian Tax Foundation Conference, November 2012
  • Canada Approves New Foreign Affiliate Dumping Rules, Tax Notes International Vol. 68, Number 6, November 12, 2012
  • International Investment Structures for Investment into Latin America, 2012 Fall Meeting Section of International Law, ABA, October 18, 2012
  • Foreign Affiliate Proposals, International Fiscal Association, Canadian Branch Seminar, May, 2012
  • Adverse Canada-U.S. Tax Treaty Hybrid Entity Rules Coming into Effect January 1, 2010, Osler Update, November 25, 2009
  • Limitation on Benefits: Canadian Interpretation, Tax Management International Journal (Vol. 38, No. 10) October 9, 2009
  • The Taxation of Mergers and Acquisitions in Canada, IFA - Bulletin for International Taxation August/September 2009 (IBFD)