Canadian Imperial Bank Denied Top Court Appeal of Sales Tax Case

Canada’s top court declined to hear an appeal Thursday from a major bank that sought to have C$44.7 million ($35.6 million) in sales tax paid as part of an air miles loyalty program returned.

The Supreme Court of Canada dismissed the application for leave to appeal from the Canadian Imperial Bank of Commerce, which aimed to overturn previous court rulings backing the Canada Revenue Agency’s denial of sales tax credits.

The Tax Court of Canada ruled in April 2019 that Toronto-based CIBC, one of the country’s top five banks, didn’t receive services exempt from sales tax, also known ...