DTA between Canada and Hong Kong came into force

DTA between Canada and Hong Kong came into force

The intergovernmental agreement between Canada and Hong Kong on the avoidance of double taxation came into force on October 29, 2013.

Key provisions of the tax treaty include the following:

  • The Canada’s withholding tax rate for dividends is 5% if the recipient is a company controlling directly or indirectly at least 10% of the voting power of the company paying the dividends. Otherwise the rate is 15%.
  • The Canada’s withholding tax rate for interest and royalties is 10%.
  • The Treaty also includes an exchange of tax-related information article (OECD model).

The text of the new Agreement is available on the Canada’s Department of Finance website.

http://www.fin.gc.ca/treaties-conventions/notices/hongkong-entry-eng.asp

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