|
|
|
|
|
|
|||||
      
|
Ottawa, September 11, 1995
1995-067
Tax Convention Signed by Canada and the Republic of Trinidad and Tobago
Related document:
Finance Minister Paul Martin today announced that a Convention between Canada and the Republic of Trinidad and Tobago for the avoidance of double taxation, the prevention of fiscal evasion with respect to taxes on income and the encouragement of international trade and investment was signed today at Toronto. The Convention was signed on behalf of Canada by the Minister for International Trade, Roy MacLaren, and on behalf of the Republic of Trinidad and Tobago by the Minister for Foreign Affairs, Gordon Draper.
The Convention, which replaces the 1966 Convention between the two countries, is patterned to a large extent on the model double taxation convention prepared by the Organisation for Economic Co-operation and Development. Under the Convention, a general rate of withholding tax of 5 per cent will apply to dividends paid to a parent company and on branch profits and of 10 per cent on interest, royalties and management fees. The rate of withholding tax on other dividends is set at 15 per cent. The Convention also provides for a number of exemptions in the case of interest.
The Convention will enter into force after Canada and the Republic of Trinidad and Tobago have notified each other of the completion of the procedures required by law for its bringing into force and its provisions will have effect, in the case of the withholding tax, from the first day of the second month following the entry into force and, in the case of other taxes, from the first day of January of the calendar year of the entry into force.
___________________
For further information:
Jean-Marc Déry
Tax Legislation Division
(613) 992-1862
For copies of the text of the protocol
Distribution Centre
(613) 995-2855
|
|
||||
| Last Updated: 2003-01-06 |
|
||||
