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Ottawa, November 2, 2001
2001-097

Entry Into Force of the Tax Convention Between Canada and Bulgaria

Finance Minister Paul Martin today announced that a Convention between Canada and Bulgaria for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and capital entered into force on October 25, 2001.

The Convention was signed on March 3, 1999, in Ottawa. In accordance with Article 29 of the Convention, the provisions of the Convention will have effect:

1. in respect of withholding taxes, on amounts paid or credited to non-residents on or after January 1, 2002; and
2. in respect of other taxes, for taxation years beginning on or after January 1, 2002.

The full text of the Convention is available on the Department of Finance Canada Web site at www.fin.gc.ca/treaties/treatystatus_e.html.

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