Archived - Canada and UK Conclude Agreement for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion
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July 21, 2014 – London, UK – Department of Finance
On behalf of Finance Minister Joe Oliver, Foreign Affairs Minister John Baird today signed, along with David Gauke, Financial Secretary to Her Majesty's Treasury, an agreement amending the Convention between the Government of Canada and the Government of the United Kingdom of Great Britain and Northern Ireland for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and capital gains.
- Canada has an extended network of 92 such conventions in force.
- The provisions of the agreement signed today will generally apply on and after January 1, 2015.
"This agreement is the latest in a range of measures the Harper Government has undertaken to improve the coordination of tax rules governing cross-border trade and investment, and to promote tax fairness and prevent international fiscal evasion. It underscores the value of the ongoing work that we are engaged in to keep Canada's tax conventions up to date through renegotiation. I would like to thank Financial Secretary Gauke and Her Majesty's Treasury for working cooperatively and in common purpose with the Government of Canada towards making today's agreement a reality."
—John Baird, Minister of Foreign Affairs
"Bilateral tax conventions like this are fundamental to eliminating tax barriers to trade and investment. They provide greater certainty to taxpayers regarding their potential liability to tax in the other country. They allocate taxing rights between the two countries so that taxpayers are not subject to double taxation. They reduce the risk of burdensome taxation that may arise because of high withholding taxes. And they ensure that taxpayers will not be subject to discriminatory taxation in the foreign jurisdiction. By advancing these goals, today's agreement will help keep Canada well positioned as a place to work, do business and invest."
—Joe Oliver, Minister of Finance
- Protocol amending the Convention between the Government of Canada and the Government of the United Kingdom of Great Britain and Northern Ireland for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and capital gains
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