FEDERAL BILL

Bill S-4, An Act To Implement A Convention And An Arrangement For The Avoidance Of Double Taxation And The Prevention Of Fiscal Evasion With Respect To Taxes On Income And To Amend An Act In Respect Of A Similar Agreement

FEDERAL BILL - ENACTS A NEW STATUTE

Royal Assent
December 16, 2016


SUMMARY This enactment implements a convention between the Government of Canada and the Government of the State of Israel for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and an arrangement between the Canadian Trade Office in Taipei and the Taipei Economic and Cultural Office in Canada for the avoidance of double taxation and th... (Click for more)


House

1st Reading 2nd Reading 3rd Reading
Dec 7, 2016 Dec 8, 2016 Dec 14, 2016

Senate

1st Reading 2nd Reading 3rd Reading
Nov 1, 2016 Nov 29, 2016 Dec 6, 2016

Published on December 16, 2016

Bill Summary

Bill S-4, An Act To Implement A Convention And An Arrangement For The Avoidance Of Double Taxation And The Prevention Of Fiscal Evasion With Respect To Taxes On Income And To Amend An Act In Respect Of A Similar Agreement

SUMMARY






This enactment implements a convention between the Government of Canada and the Government of the State of Israel for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and an arrangement between the Canadian Trade Office in Taipei and the Taipei Economic and Cultural Office in Canada for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income. It also amends the Canada–Hong Kong Tax Agreement Act, 2013 to add to it, for greater certainty, an interpretation provision.






The convention and arrangement are generally patterned on the Model Tax Convention on Income and on Capital developed by the Organisation for Economic Co-operation and Development (OECD).






The convention and arrangement have two main objectives: the avoidance of double taxation and the prevention of fiscal evasion. Once implemented, they will provide relief from taxation rules in, or related to, the Income Tax Act. Their implementation requires the enactment of this Act.

This Bill does not amend any statutes.

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