Bill C-10
If you have any questions or comments regarding the accessibility of this publication, please contact us at accessible@parl.gc.ca.
|
SCHEDULE 7
|
|
|
SCHEDULE V
|
|
|
PROTOCOL AMENDING THE CONVENTION BE TWEEN CANADA AND THE UNITED STATES OF AMERICA WITH RESPECT TO TAXES ON INCOME AND ON CAPITAL SIGNED AT WASHINGTON ON SEP TEMBER 26, 1980 AS AMENDED BY THE PROTOCOLS SIGNED ON JUNE 14, 1983, MARCH 28, 1984 AND MARCH 17, 1995 |
|
|
Canada and the United States of America,
|
|
|
Desiring to conclude a Protocol to amend the Convention
Between Canada and the United States of America with Respect
to Taxes on Income and on Capital signed at Washington on
September 26, 1980, as amended by the Protocols signed on June
14, 1983, March 28, 1984 and March 17, 1995 (hereinafter
referred to as ``the Convention''),
|
|
|
Have agreed as follows:
|
|
|
ARTICLE 1 |
|
|
1. Paragraph 3(a) of Article XIII (Gains) of the Convention
shall be deleted and replaced by the following:
|
|
|
|
|
|
2. Paragraph 3(b)(ii) of Article XIII (Gains) of the Convention
shall be deleted and replaced by the following:
|
|
|
|
|
|
ARTICLE 2 |
|
|
1. Paragraph 3 of Article XVIII (Pensions and Annuities) of
the Convention shall be deleted and replaced by the following:
|
|
|
|
|
|
2. Paragraph 5 of Article XVIII (Pensions and Annuities) of
the Convention shall be deleted and replaced by the following:
|
|
|
|
|
|
|
|
|
|
|
|
ARTICLE 3 |
|
|
1. This Protocol shall be subject to ratification in accordance
with the applicable procedures in Canada and the United States
and instruments of ratification shall be exchanged as soon as
possible.
|
|
|
2. This Protocol shall enter into force upon the exchange of
instruments of ratification, and shall have effect as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3. With respect to source-taxed benefits paid by a Contracting
State to a resident of the other Contracting State, Article 2 applies
only if the resident has, within three years after the date on which
this Protocol enters into force, applied to the competent authority
of the first-mentioned Contracting State for a refund of the tax
imposed on the benefits. However, with respect to source-taxed
benefits paid by the United States to a resident of Canada, the
competent authority of Canada shall:
|
|
|
|
|
|
|
|
|
|
|
|
4. All taxes refunded as a result of this Protocol shall be
refunded without interest and interest on any taxes of a resident
of a Contracting State assessed as a result of this Protocol shall be
computed as though those taxes became payable no earlier than
December 31 of the year following the year in which this
Protocol enters into force.
|
|
|
5. The competent authorities of the Contracting States shall
establish procedures for making or revoking the application
referred to in paragraph 3 and shall agree on such additional
procedures as are necessary to ensure the appropriate
implementation of this Protocol.
|
|
|
IN WITNESS WHEREOF, the undersigned, being duly
authorized thereto by their respective Governments, have signed
this Protocol.
|
|
|
DONE at Ottawa in duplicate this 29th day of July, 1997, in
the English and French languages, both texts being equally
authentic.
|
|
|
FOR CANADA: FOR THE UNITED STATES OF AMERICA:
|
|
|
Michael Leir Vladimir Sambaiew
|
|