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Ottawa, March 17, 1995 Technical Revision of the Protocol Signed on August 31, 1994, Amending the Canada - United States Income Tax TreatyFinance Minister Paul Martin today announced that a revised Protocol amending the Convention between Canada and the United States with respect to taxes on income and on capital signed on September 26, 1980, as amended by the Protocols signed on June 14, 1983 and March 28, 1984, was signed today at Washington. The revised Protocol is identical to that signed by the two countries on August 31, 1994, with the exception of a limited number of technical changes made to clarify the application of the rules dealing with taxes arising on death, and to change the date of application of some of the provisions of the Protocol to reflect the fact that the Protocol signed last year was not ratified in 1994 as had been expected. The full text of the revised Protocol signed today is attached; the provisions which differ from the Protocol signed in August 1994 are indicated by a line in the margin. The Minister expressed his desire to introduce the legislation required to implement the new Protocol during the current session of Parliament. He also noted that, as a result of the Protocol signed today, both Canada and the United States will not pursue the implementation of the Protocol as signed on August 31, 1994. __________________ Brian Ernewein For copies: Distribution Centre |
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