S-4 , 42nd Parliament, 1st session Thursday, December 3, 2015, to Wednesday, September 11, 2019

The Library of Parliament does not prepare Legislative Summaries for bills that implement treaties, conventions, agreements or administrative arrangements bills. The following is a short summary:

On 1 November 2016, the Hon. Peter Harder introduced Bill S-4, An Act to implement a Convention and an Arrangement for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and to amend an Act in respect of a similar Agreement (Tax Convention and Arrangement Implementation Act, 2016), in the Senate and it was given first reading.

Bill S-4 implements a convention between the Government of Canada and the Government of the State of Israel for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and an arrangement between the Canadian Trade Office in Taipei and the Taipei Economic and Cultural Office in Canada for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income. It also amends the Canada–Hong Kong Tax Agreement Act, 2013 to add to it, for greater certainty, an interpretation provision.

The convention and arrangement are generally patterned on the Model Tax Convention on Income and on Capital developed by the Organisation for Economic Co-operation and Development (OECD).

The convention and arrangement have two main objectives: the avoidance of double taxation and the prevention of fiscal evasion. Once implemented, they will provide relief from taxation rules in, or related to, the Income Tax Act. Their implementation requires the enactment of this Act.