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Tax Treaties Signed By Canada

By Expert Author: Josep Guardiola

Canadian government has made several tax treaties with the governments which are known as the tax treaties which are in acceptance with various countries. The basic purpose of the tax treaties involves the avoidance of the double taxations and the prevention of the evasions of the taxes and to reduce the international tax. The tax treaties are important because of the following reasons.

The taxes systems are governed in Canada and are known as the tax conventions or the tax treaties which are signed with many countries. The main purpose of the tax treaties is avoided in order to double taxation policies and to prevent the tax evasion. The taxes are important because of the following:

1) It defines the taxes which are applicable for the people who are covered as the residents and are eligible to the benefits for the payment of the taxes which are withheld from the business, interests and other royalties which are paid by the residents of one country to the people who are the residents of the other country to have the limitation on the taxes.
2) It also defines the circumstances which in which the income of the individual residents will be taxed in another country which may included the income charged under the self employment, salary, pensions and other income sources.
3) It may also provide the exemption of the certain organisations or individuals which provide a procedural framework in order to enforce and dispute the resolution.
4) There may also be a exemption on the certain types of organisation or individuals which may provide for the enhancement of the procedural framework and dispute relationships.

Now there are several questions which comes into the mind of the residents and the non residents of Canada, in case you are a non resident of Canada you would have questions which may be related to the taxation policy made by the Canadian government for the generation of the taxes for the Canadian source income while if you are a resident of Canada then the questions may arise in your mind related to the taxation on the income earned through the foreign sources. The both kind of queries can be resolved by contacting to the International Tax Service office. In order to find the generation of the taxes on the income the tax consulting can be done by contacting the foreign tax administrations.

Some of the major tax treaties that are signed by the Canadian government are:

1) The Canada Algeria income tax convention which was signed in the year 1999 in February.
2) The Canada Columbia income tax treaty which was signed in the year 2008.
3) The Canada China income tax treaty which was signed in the year 1986.
4) The convention on income tax treaty signed between U.S.A. in the year 2007.
5) The treaty between Canada and United Kingdom signed under the name of the “Canada united Kingdom protocol” in the year 2003.

Thus, Canada has been signing treaties with many countries in the year in order tpo establish the better tax relations at the international levels.

About Author:-
Josep Guardiola is a corporation tax specialist, who practices as an international tax consultant. He is providing lots of information about how to manage tax. In this article you can find details information about tax consulting. For more information visit taxca.com.

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