20 May 2020
India's Income Tax Department has published the synthesized text of the 1996 income and capital tax treaty with Canada as impacted by the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI).The synthesized text was prepared on the basis of the reservations and notifications submitted to the Depositary (the Secretary-General of the Organisation for Economic Co-operation and Development) by India on 25 June 2019 and by Canada on 29 August 2019. The authentic legal texts of the Agreement and the MLI take precedence and remain the legal texts applicable.
The MLI applies for the 1996 India-Canada tax treaty as follows:
Further to the above, Article 16 of the MLI (Mutual Agreement Procedure) has effect with respect to the treaty for a case presented to the competent authority of a Contracting State on or after 1 December 2019, except for cases that were not eligible to be presented as of that date under the treaty prior to its modification by the MLI, without regard to the taxable period to which the case relates.
Click the following links for the synthesized text of the 1996 India-Canada tax treaty as impacted by the MLI.
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