CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Canada, Switzerland Improve Tax Agreement

Canada, Switzerland Improve Tax Agreement

by Mike Godfrey, Tax-News.com, Washington

25 October 2010


The Canadian government has announced the signing of a protocol to the existing double tax agreement it has concluded with Switzerland, and the commencement of negotiations for the signing of tax information exchange agreements with the Cook Islands and Vanuatu.

The Swiss protocol will update the double tax agreement signed by Canada on May 5, 1997, to include provisions that will allow the respective countries’ tax authorities to request tax information relating to civil tax matters and in the investigation of fiscal crime.

Along with the information exchange provisions, Switzerland and Canada have agreed to exempt dividend payments to pension funds, and the central bank from withholding tax. Interest payments between unrelated persons will also be exempt from withholding tax in the future. Moreover, the scope of application of the withholding tax exemption for royalty payments has been extended, and an arbitration clause has been added.

The protocol to the agreement will enter into force after it has been ratified by both parties.

Also in statements on October 22, the Canadian government announced that negotiations had begun towards further agreements to include the Organization for Economic Cooperation and Development’s standard on transparency and information exchange with Vanuatu and the Cook Islands.

TAGS: tax | tax information exchange agreement (TIEA) | double tax agreement (DTA) | interest | royalties | Cook Islands | Vanuatu | agreements | withholding tax | Canada | Switzerland | dividends

To see today's news, click here.

Leave a comment

Read our Posting Guidelines

 






Close

Password Reminder

Please enter your email address to receive a password reminder.

 






Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Tax-News+ Updates

Receive FREE daily updates from Tax-News.com, straight to your inbox. Register Now!

For a tailored solution, choose to receive selected news updates for your preferred jurisdictions and topics, with our enhanced Tax-News+ subscriber service. Read more...

 

Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »