The Spanish Cabinet authorized the signing of the Protocol between the Kingdom of Spain and Canada, amending the agreement between the two countries to avoid double taxation and prevent fiscal evasion with respect to taxes on income and on capital, signed at Ottawa on November 23, 1976 and entered into force on December 26, 1980.
The new protocol is intended to update the articles of the Convention in order to suit both the needs arising from the economic relations between Spain and Canada, and to the changes experienced by the model of the OECD Convention to avoid double taxation. In addition, a new wording of the tax on dividends, interest and royalties is introduced. It is likewise updated aspects of the rules that affect the limitation on benefits, non-discrimination, mutual agreement procedures and exchange of information and administrative assistance.
