Canada and Spain: Protocol to DTA will enter into force
The amending protocol of the Income and Capital Tax Treaty (DTA; 1976) between Canada and Spain will enter into force on 12th December 2015 and it was signed on 18th November 2014. The effective date for withholding taxes on amounts paid or credited
See MoreCanada: Conservative party pledges payroll tax cut
The Prime Minister of Canada has declared that a re-elected conservative government would cut more than 20% payroll taxes in 2017. He promised that his government would not increase payroll taxes in the Canada Pension Plan (CPP) and also accused the
See MoreCanada: Quebec Finance Minister considering sales tax increases
The Finance Minister in Quebec has stated that his Government is allowing for a 1% percent rise in the provincial sales tax. At present, the Quebec Sales Tax (QST) rate is 9.98%. The Government intentions to announce the changes in the next Budget.
See MoreCanada: Prime Minister promises to improve mining tax credit
The Prime Minister of Canada has made a promise that if re-elected, his Government would prolong the mineral exploration tax credit for 3 years to 2019. As part of his election campaign, the Prime Minister also declared that his government would
See MoreCanadian non-resident permitted to carry-forward of non-capital losses
The Canadian Tax Court issued a decision regarding a case entitled Hatt v. The Queen (2015 TCC 207) on 19th August 2015. The issue was whether the taxpayer was entitled to deduct a non-capital loss from employment in Canada in the 2010 tax
See MoreCanada: CRA issues 2014-15 APA program report
The Canada Revenue Agency (CRA) has published a report on 17th August 2015 regarding Advance Pricing Arrangement (APA) program for the period from 1st April 2014 to 31st March 2015. This gives an overview of the systems of APA program containing
See MoreCanada: CRA releases annual MAP report
The Canada Revenue Agency (CRA) has published its 12th annual report regarding its Mutual Agreement Procedure (MAP) programme. The report gives the objective, history, and present events of the MAP programme for the period from 1st April 2014 to
See MoreCanada-India: Social Security Agreement entered into force
A Social Security Agreement between Canada and India enter into force from 1st August 2015 that was signed on 6th November 2012. It also effects from the same date of entry into
See MoreCanada: Draft legislation released implementing events from Economic Action Plan 2015
The Finance Minister has published draft legislative proposals on 31st July 2015 that would implement certain tax measures from the Economic Action Plan 2015 including: Amending the frequent failure report of income penalty to apply only for a
See MoreCanadian parties announce election campaigns
The Prime Minister of Canada has declared election campaign for his party with a statement that the Internship Job Creation Tax Credit will be improved. The federal general election will go on 19th October
See MoreCanada: Ontario surtax relief
The Canada Revenue Agency (CRA) has suggested to the Investment Funds Institute of Canada (IFIC) that its systems will not be updated until 10th August 2015 to enable it to calculate the tax relief due from a mismatch of a mutual fund
See MoreCanada: Tax treaty, TIEA updates
The Finance Ministry has announced that the Double Tax Treaty (DTA) between Canada and New Zealand entered into force on 26th June 2015, and that agents of the governments of Canada and the Cook Islands signed a tax information exchange agreement
See MoreCanada: Pension payroll tax will not increase
The Finance Ministry of Canada has stated that the Government will not impose an obligatory increase in Canada Pension Plan (CPP) contributions but will instead consider choices for a supplement to the payroll tax. The government will consult with
See MoreSocial Security Agreement and protocol between Canada and Italy ratified
According to Law No. 93 as published in the Official Gazette No. 154 on 6th July 2015, the Social Security Agreement (1995) between Canada and Italy and its amending protocol has been ratified by Italy on 16th June
See MoreCanada: Corporate tax measures enacted
Bill C-59 has received its first reading on 7th May 2015 implementing certain measures announced in the 2015 federal budget. These measures will not be applicable until after the upcoming federal election expected in October 2015. The enacted
See MoreWTO conducts trade review of Canada
The World Trade Organization (WTO) conducted its tenth review of trade policies and practices of Canada on 15 and 17 June 2015. The review was based on a report issued by the Canadian government and a report by the WTO Secretariat. The WTO
See MoreCanada: Notice to implement tax provisions in Economic Action Plan 2015 and other tax measures
The Ministry of Finance has scheduled a complete notice of ways and means motion to implement certain tax provisions in Economic Action Plan 2015 and other tax measures on 5th May 2015. This notice contains the following measures and specific
See MoreTax agreement between Canada and Taiwan initialed
The Tax Agreement between Canada and Taiwan has been initialed on 1st May
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