Canada has begun negotiations to update its income tax treaties with Germany and Switzerland.
Finance announced the two treaty negotiations in separate news releases and says that both will take place during June 2017. Both releases ask parties to inform Finance of any particular issues related to double taxation that might be resolved within the tax treaties. Finance is particularly interested in learning of any difficulties encountered by Canadians under the German or Swiss tax systems, so that these issues might be taken into account in negotiations.
Presumably, these direct bilateral negotiations lay out many of the areas that would have been covered by the recent Multilateral Instrument that Canada has signed. Neither of these two countries were included in the provisional list Canada provided to the OECD, itemizing which of the country's tax treaties will be affected by the Multilateral Instrument.
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Information is current to June 13, 2017. 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
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