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Ottawa, May 25, 2001 Tax Convention Signed by Canada and the Czech RepublicRelated document: Finance Minister Paul Martin announced that a Convention between Canada and the Czech Republic for the avoidance of double taxation and the prevention of fiscal evasion was signed today in Prague. Human Resources Development Minister Jane Stewart signed the Convention on behalf of Canada. Mr. Jiri Rusnok, the Czech Republic’s Minister of Finance, signed on behalf of his country. Under the Convention:
Canada and the Czech Republic are to notify each other of the completion of the procedures required for bringing the Convention into force, and it will enter into force on the day the last notification is received. In the case of withholding tax, the Convention will apply as of January 1 in the calendar year following that in which it enters into force. In the case of other taxes, the Convention will apply for taxation years beginning on or after that day. Once in force, the Convention will replace, as far as relations between Canada and the Czech Republic are concerned, the tax treaty signed in 1990 between Canada and Czechoslovakia. The full text of the Convention is available on the Department of Finance Canada Web site at www.fin.gc.ca. ____________________
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