The Double Tax Agreement (DTA) protocol between Canada and the UK has signed on July 21, 2014 that amends its withholding tax and information exchange provisions. This contains a release from withholding tax for payments of interest made subject to loans between persons at arm’s length. At present, the rate of withholding tax for interest is 10% and for royalties it should not go above 10%. The protocol also includes a revised provision on the tax information exchange, which represents the new standards developed by the OECD. Canada and the UK must finish their relevant domestic ratification process before the changes can enter into force.
«
Previous post
Peru-New resolution on reporting of stocks and shares
Peru-New resolution on reporting of stocks and shares
Next post
South Korea- No Budget for 2014
»
South Korea- No Budget for 2014
Related Posts
Canada: CRA to apply GST/HST on mutual fund trailing commissions from July 2026
February 03, 2026
The Canada Revenue Agency (CRA) will require mutual fund dealers to collect goods and services tax/harmonised sales tax (GST/HST) on trailing commissions, as they are now considered taxable supplies, starting 1 July 2026. The CRA’s position on
Read More Canada updates guidance on global minimum tax filing requirements
February 02, 2026
The Canadian government released an updated guidance on the global minimum tax on 30 January 2026, outlining preparatory steps for filing. The guidance details filing templates, deadlines, and the required information for the GloBE Information
Read More Canada consults draft legislations for corporate taxation, anti-avoidance rules and other measures
January 30, 2026
Canada’s Department of Finance launched a consultation on several draft legislative proposals to implement a range of previously announced tax measures on 29 January 2026. The proposed changes aim to clarify and improve tax rules, close gaps to
Read More US: Trump threatens Canada with 100% tariffs
January 27, 2026
US President Donald Trump has warned that Canada could face serious consequences if it moves forward with closer trade ties with China. In a post on Truth Social on 24 January 2026, Trump said he would impose a 100% tariff on all Canadian goods
Read More
UK: Treasury consults on new electric vehicle excise duty
January 26, 2026
The UK Treasury has opened a public consultation on introducing an electric vehicle excise duty (eVED), as announced in the Autumn 2025 Budget. Autumn Budget 2025 announces the introduction of eVED for electric and plug-in hybrid electric cars,
Read More Canada, Qatar to negotiate for income tax treaty
January 22, 2026
Qatar’s Ministry of Foreign Affairs released a joint statement announcing that Qatar’s Amir Tamim bin Hamad Al Thani and Canadian Prime Minister Mark Carney met on 18 January 2026 to discuss bilateral relations and agreed to start negotiations
Read More