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Paul Stepak

Paul Stepak

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Blake, Cassels & Graydon LLP

Blake, Cassels & Graydon LLP

Canada

1

Tax

Blake, Cassels & Graydon LLP has a premier tax practice which stands out for its expertise in handling high-profile M&As. The team is well-versed in assisting clients with tax advice for domestic, cross-border and multi-jurisdictional transactions and reorganizations. The team also has expertise in transfer pricing issues which has become an increasing area of focus for the firm. Paul Stepak leads the tax group from Toronto and is sought out for his knowledge on US and foreign private equity investments in Canada. Co-head Jeffrey Shafer, Mark Tonkovich and Pooja Mihailovich all co-lead the Toronto practice alongside Stepak. Shafer is the go-to partner for transfer pricing issues, while Tonkovich is an expert in tax disputes and tax controversies. Mihailovich joined the firm in 2025 following her departure from Osler, Hoskin & Harcourt LLP and specializes in tax disputes and litigation. Outside of Toronto, Dan Jankovic practices corporate income tax law from Calgary.
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Phone
416-863-2457
Email
[email protected]
Profile
blakes.com

Profile

Work Department
Tax
Position

Paul is the National Practice Group Leader for the Blakes Tax group. Paul practises corporate and partnership income taxation, including advising on domestic and cross-border tax planning, private and public M&As, private equity and Canadian pension funds' investments, reorganizations, capital markets transactions, financings, and taxation of mutual funds, partnerships and other investment vehicles. Cross-border inbound structuring, including for private equity funds and their portfolio companies, is a significant component of his practice. Paul also has experience assisting clients with the resolution of Canadian federal and provincial tax audits and appeals at all stages.

Paul frequently writes and speaks on domestic and international tax issues.

Memberships
Paul is a member of the International Fiscal Association and the International Bar Association, and is a governor and member of the Executive Committee of the Canadian Tax Foundation.

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Key clients

  • Advent International BCE HPS Investment Partners AstraZeneca Professional Women’s Hockey League Red Lobster Management TC Energy Suncor Energy Cleveland-Cliffs Clear Sky Capital Plazacorp Willowgrove Residential Real Estate Development Trust OMERS Strathcona Resources Redpath Sugar

Work highlights

Advised Advent International on its $6.3bn take-private acquisition of Canadian fintech payment platform Nuvei Corporation.
Advised TC Energy Corporation on its tax-deferred spinoff of its liquids pipelines business into South Bow Corporation.
Represented Redpath Sugar in its transfer pricing recharacterization litigation before the Tax Court of Canada.