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Canada and Poland sign new tax convention
“Canada is committed to strengthening its relationship with Poland by fostering an environment that will encourage growth and long-term prosperity for both countries,” said Prime Minister Harper. “The new tax convention is a step in the right direction, as it will help reduce tax barriers, and support increased bilateral trade and investment.”
The new tax convention will replace the 1987 Tax Convention between Canada and Poland to better reflect current Canadian and international tax convention policies. In particular, the new tax convention lowers the maximum rate of withholding tax imposed on dividends paid between companies, and on interest payments.
Consistent with the Government of Canada's policy announced in Budget 2007 to combat international tax evasion, the updated tax convention also includes provisions reflecting the standard developed by the Organization for Economic Co-operation and Development (OECD) for the effective exchange of tax information.
Canada currently has tax conventions in force with 89 countries. The signature of this new tax convention with Poland reflects the efforts of the Government of Canada to update its tax convention network.
