Finance announced that Canada signed a Tax Convention with Madagascar on November 24, 2016.
The Convention includes provisions reflecting the standards developed by the OECD for the exchange of information for tax purposes.
The convention limits the rate of withholding tax to:
The Convention also exempts certain interest payments from withholding tax, and limits the rate of withholding tax to 5% on certain payments of royalties.
The Convention will enter into force once Canada and the Republic of Madagascar have notified each other that the procedures required by their laws for the bringing into force of the Convention have been completed.
For more information, contact your KPMG adviser.
Information is current to December 06, 2016. The information contained in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's National Tax Centre at 416.777.8500.