NEWS RELEASES
CANADA AND SWEDEN SIGN AMENDED TAX CONVENTION
August 27, 1996 No. 149
CANADA AND SWEDEN SIGN AMENDED TAX CONVENTION
Foreign Affairs Minister Lloyd Axworthy and Finance Minister Paul Martin today
announced that Canada and Sweden have signed an amended tax convention designed to
enhance bilateral trade and investment. Minister Axworthy, who is currently
attending the World Congress against Commercial Sexual Exploitation of Children in
Stockholm, Sweden, signed the agreement on Canada's behalf. Swedish Foreign
Affairs Minister Lena Hjelm-Wallén signed the agreement on behalf of Sweden.
"This amended agreement will solidify even further our already strong ties with
Sweden," stated Mr. Axworthy. "It is also a telling sign of the increasing
importance Canada and Sweden both place on facilitating trade and investment
between our two countries."
"The Canadian government is committed to financial reform, and improvements to the
tax system are an important component of this strategy," said Mr. Martin.
"Eliminating the double taxation of individuals or companies in one country who do
business or earn income in the other will help promote bilateral trade and
investment."
The Convention promotes trade and investment between Canada and Sweden by setting
guidelines designed to avoid double taxation. It also provides for a number of
exemptions with respect to interest payments, patents, computer software and know-how.
Minister Axworthy's official visit to Sweden is being followed by visits to
Estonia and Lithuania, August 28-29, where he will meet with senior officials to
promote bilateral relations.
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For further information, media representatives may contact:
Catherine Lappe
Director of Communications
Office of the Minister of Foreign Affairs
(613) 995-1851
Media Relations Office
Department of Foreign Affairs and International Trade
(613) 995-1874
Jean-Marc Déry
Tax Legislation Division
Department of Finance Canada
(613) 992-1862
This document is also available on the Department's Internet site:
http://www.dfait-maeci.gc.ca
For copies of the Convention, contact:
Distribution Centre
Department of Finance Canada
(613) 995-2855
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