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Ottawa, January 28, 2002 Tax Agreement Signed by Canada and KuwaitFinance Minister Paul Martin announced that an Agreement between Canada and Kuwait for the avoidance of double taxation and the prevention of fiscal evasion was signed today in Ottawa. Under the Agreement withholding tax will be limited to:
Canada and Kuwait are to notify each other of the completion of the procedures required for bringing the Agreement into force, and it will enter into force on the day the last notification is received. In the case of withholding tax, the Agreement will apply as of January 1 in the calendar year in which it enters into force. In the case of other taxes, the Agreement will apply for taxation years beginning on or after that day. The full text of the Agreement is available on the Department of Finance Canada Web site at www.fin.gc.ca/treaties/treatystatus_e.html. ___________________
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