GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 (1)
(1) in the case of a Depository Account, the account is held by an individual resident in Canada and more than $10 of interest is paid to such account in any given calendar year; or
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 (2)
(2) in the case of a Financial Account other than a Depository Account, the Account Holder is a resident of Canada, including an Entity that certifies that it is resident in Canada for tax purposes, with respect to which U.S. source income that is subject to reporting under chapter 3 of subtitle A or chapter 61 of subtitle F of the U.S. Internal Revenue Code is paid or credited.
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 cc)
cc) The term U.S. Reportable Account means a Financial Account maintained by a Reporting Canadian Financial Institution and held by one or more Specified U.S. Persons or by a Non-U.S. Entity with one or more Controlling Persons that is a Specified U.S. Person. Notwithstanding the foregoing, an account shall not be treated as a U.S. Reportable Account if such account is not identified as a U.S. Reportable Account after application of the due diligence procedures in Annex I.
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 dd)
dd) The term Account Holder means the person listed or identified as the holder of a Financial Account by the Financial Institution that maintains the account. A person, other than a Financial Institution, holding a Financial Account for the benefit or account of another person as agent, custodian, nominee, signatory, investment advisor, or intermediary, is not treated as the Account Holder for purposes of this Agreement, and such other person is treated as the Account Holder. For purposes of the immediately preceding sentence, the term Financial Institution does not include a Financial Institution organized or incorporated in a U.S. Territory. In the case of a Cash Value Insurance Contract or an Annuity Contract, the Account Holder is any person entitled to access the Cash Value or change the beneficiary of the contract. If no person can access the Cash Value or change the beneficiary, the Account Holder is any person named as the owner in the contract and any person with a vested entitlement to payment under the terms of the contract. Upon the maturity of a Cash Value Insurance Contract or an Annuity Contract, each person entitled to receive a payment under the contract is treated as an Account Holder.
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 ee)
ee) The term U.S. Person means: (1) a U.S. citizen or resident individual, (2) a partnership or corporation organized in the United States or under the laws of the United States or any State thereof, (3) a trust if (A) a court within the United States would have authority under applicable law to render orders or judgments concerning substantially all issues regarding administration of the trust, and (B) one or more U.S. persons have the authority to control all substantial decisions of the trust, or (4) an estate of a decedent that is a citizen or resident of the United States. This subparagraph 1(ee) shall be interpreted in accordance with the U.S. Internal Revenue Code.
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 (1)
(1) a U.S. citizen or resident individual,
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 (2)
(2) a partnership or corporation organized in the United States or under the laws of the United States or any State thereof,
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 (3)
(3) a trust if (A) a court within the United States would have authority under applicable law to render orders or judgments concerning substantially all issues regarding administration of the trust, and (B) one or more U.S. persons have the authority to control all substantial decisions of the trust, or
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 (A)
(A) a court within the United States would have authority under applicable law to render orders or judgments concerning substantially all issues regarding administration of the trust, and
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 (B)
(B) one or more U.S. persons have the authority to control all substantial decisions of the trust, or
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 (4)
(4) an estate of a decedent that is a citizen or resident of the United States.
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58
This subparagraph 1(ee) shall be interpreted in accordance with the U.S. Internal Revenue Code.
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 ff)
ff) The term Specified U.S. Person means a U.S. Person, other than: (1) a corporation the stock of which is regularly traded on one or more established securities markets; (2) any corporation that is a member of the same expanded affiliated group, as defined in section 1471(e)(2) of the U.S. Internal Revenue Code, as a corporation described in clause (1); (3) the United States or any wholly owned agency or instrumentality thereof; (4) any State of the United States, any U.S. Territory, any political subdivision of any of the foregoing, or any wholly owned agency or instrumentality of any one or more of the foregoing; (5) any organization exempt from taxation under section 501(a) of the U.S. Internal Revenue Code or an individual retirement plan as defined in section 7701(a)(37) of the U.S. Internal Revenue Code; (6) any bank as defined in section 581 of the U.S. Internal Revenue Code; (7) any real estate investment trust as defined in section 856 of the U.S. Internal Revenue Code; (8) any regulated investment company as defined in section 851 of the U.S. Internal Revenue Code or any entity registered with the U.S. Securities and Exchange Commission under the U.S. Investment Company Act of 1940; (9) any common trust fund as defined in section 584(a) of the U.S. Internal Revenue Code; (10) any trust that is exempt from tax under section 664(c) of the U.S. Internal Revenue Code or that is described in section 4947(a)(1) of the U.S. Internal Revenue Code; (11) a dealer in securities, commodities, or derivative financial instruments (including notional principal contracts, futures, forwards, and options) that is registered as such under the laws of the United States or any State thereof; (12) a broker as defined in section 6045(c) of the U.S. Internal Revenue Code; or (13) any tax exempt trust under a plan that is described in section 403(b) or section 457(b) of the U.S. Internal Revenue Code.
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 (1)
(1) a corporation the stock of which is regularly traded on one or more established securities markets;
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 (2)
(2) any corporation that is a member of the same expanded affiliated group, as defined in section 1471(e)(2) of the U.S. Internal Revenue Code, as a corporation described in clause (1);
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 (3)
(3) the United States or any wholly owned agency or instrumentality thereof;
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 (4)
(4) any State of the United States, any U.S. Territory, any political subdivision of any of the foregoing, or any wholly owned agency or instrumentality of any one or more of the foregoing;
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 (5)
(5) any organization exempt from taxation under section 501(a) of the U.S. Internal Revenue Code or an individual retirement plan as defined in section 7701(a)(37) of the U.S. Internal Revenue Code;
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 (6)
(6) any bank as defined in section 581 of the U.S. Internal Revenue Code;
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 (7)
(7) any real estate investment trust as defined in section 856 of the U.S. Internal Revenue Code;
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 (8)
(8) any regulated investment company as defined in section 851 of the U.S. Internal Revenue Code or any entity registered with the U.S. Securities and Exchange Commission under the U.S. Investment Company Act of 1940;
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 (9)
(9) any common trust fund as defined in section 584(a) of the U.S. Internal Revenue Code;
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 (10)
(10) any trust that is exempt from tax under section 664(c) of the U.S. Internal Revenue Code or that is described in section 4947(a)(1) of the U.S. Internal Revenue Code;
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 (11)
(11) a dealer in securities, commodities, or derivative financial instruments (including notional principal contracts, futures, forwards, and options) that is registered as such under the laws of the United States or any State thereof;
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 (12)
(12) a broker as defined in section 6045(c) of the U.S. Internal Revenue Code; or
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 (13)
(13) any tax exempt trust under a plan that is described in section 403(b) or section 457(b) of the U.S. Internal Revenue Code.
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 gg)
gg) The term Entity means a legal person or a legal arrangement such as a trust.
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 hh)
hh) The term Non-U.S. Entity means an Entity that is not a U.S. Person.
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 ii)
ii) The term U.S. Source Withholdable Payment means any payment of interest (including any original issue discount), dividends, rents, salaries, wages, premiums, annuities, compensations, remunerations, emoluments, and other fixed or determinable annual or periodical gains, profits, and income, if such payment is from sources within the United States. Notwithstanding the foregoing, a U.S. Source Withholdable Payment does not include any payment that is not treated as a withholdable payment in relevant U.S. Treasury Regulations.
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 jj)
jj) An Entity is a Related Entity of another Entity if either Entity controls the other Entity, or the two Entities are under common control. For this purpose control includes direct or indirect ownership of more than 50 percent of the vote or value in an Entity. Notwithstanding the foregoing, Canada may treat an Entity as not a Related Entity of another Entity if the two Entities are not members of the same expanded affiliated group as defined in section 1471(e)(2) of the U.S. Internal Revenue Code.
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 kk)
kk) The term U.S. TIN means a U.S. federal taxpayer identifying number.
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 ll)
ll) The term Canadian TIN means a Canadian taxpayer identifying number.
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 mm)
mm) The term Controlling Persons means the natural persons who exercise control over an Entity. In the case of a trust, such term means the settlor, the trustees, the protector (if any), the beneficiaries or class of beneficiaries, and any other natural person exercising ultimate effective control over the trust, and in the case of a legal arrangement other than a trust, such term means persons in equivalent or similar positions. The term Controlling Persons shall be interpreted in a manner consistent with the Financial Action Task Force Recommendations.
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 2
2 Any term not otherwise defined in this Agreement shall, unless the context otherwise requires or the Competent Authorities agree to a common meaning (as permitted by domestic law), have the meaning that it has at that time under the law of the Party applying this Agreement, any meaning under the applicable tax laws of that Party prevailing over a meaning given to the term under other laws of that Party.
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 1
1 Subject to the provisions of Article 3 of this Agreement, each Party shall obtain the information specified in paragraph 2 of this Article with respect to all Reportable Accounts and shall annually exchange this information with the other Party on an automatic basis pursuant to the provisions of Article XXVII of the Convention.
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 a)
a) In the case of Canada with respect to each U.S. Reportable Account of each Reporting Canadian Financial Institution: (1) the name, address, and U.S. TIN of each Specified U.S. Person that is an Account Holder of such account and, in the case of a Non-U.S. Entity that, after application of the due diligence procedures set forth in Annex I, is identified as having one or more Controlling Persons that is a Specified U.S. Person, the name, address, and U.S. TIN (if any) of such Entity and each such Specified U.S. Person; (2) the account number (or functional equivalent in the absence of an account number); (3) the name and identifying number of the Reporting Canadian Financial Institution; (4) the account balance or value (including, in the case of a Cash Value Insurance Contract or Annuity Contract, the Cash Value or surrender value) as of the end of the relevant calendar year or other appropriate reporting period or, if the account was closed during such year, immediately before closure; (5) in the case of any Custodial Account: (A) the total gross amount of interest, the total gross amount of dividends, and the total gross amount of other income generated with respect to the assets held in the account, in each case paid or credited to the account (or with respect to the account) during the calendar year or other appropriate reporting period; and (B) the total gross proceeds from the sale or redemption of property paid or credited to the account during the calendar year or other appropriate reporting period with respect to which the Reporting Canadian Financial Institution acted as a custodian, broker, nominee, or otherwise as an agent for the Account Holder; (6) in the case of any Depository Account, the total gross amount of interest paid or credited to the account during the calendar year or other appropriate reporting period; and (7) in the case of any account not described in subparagraph 2(a)(5) or 2(a)(6) of this Article, the total gross amount paid or credited to the Account Holder with respect to the account during the calendar year or other appropriate reporting period with respect to which the Reporting Canadian Financial Institution is the obligor or debtor, including the aggregate amount of any redemption payments made to the Account Holder during the calendar year or other appropriate reporting period.
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 (1)
(1) the name, address, and U.S. TIN of each Specified U.S. Person that is an Account Holder of such account and, in the case of a Non-U.S. Entity that, after application of the due diligence procedures set forth in Annex I, is identified as having one or more Controlling Persons that is a Specified U.S. Person, the name, address, and U.S. TIN (if any) of such Entity and each such Specified U.S. Person;
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 (2)
(2) the account number (or functional equivalent in the absence of an account number);
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 (3)
(3) the name and identifying number of the Reporting Canadian Financial Institution;
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 (4)
(4) the account balance or value (including, in the case of a Cash Value Insurance Contract or Annuity Contract, the Cash Value or surrender value) as of the end of the relevant calendar year or other appropriate reporting period or, if the account was closed during such year, immediately before closure;
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 (5)
(5) in the case of any Custodial Account: (A) the total gross amount of interest, the total gross amount of dividends, and the total gross amount of other income generated with respect to the assets held in the account, in each case paid or credited to the account (or with respect to the account) during the calendar year or other appropriate reporting period; and (B) the total gross proceeds from the sale or redemption of property paid or credited to the account during the calendar year or other appropriate reporting period with respect to which the Reporting Canadian Financial Institution acted as a custodian, broker, nominee, or otherwise as an agent for the Account Holder;
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 (A)
(A) the total gross amount of interest, the total gross amount of dividends, and the total gross amount of other income generated with respect to the assets held in the account, in each case paid or credited to the account (or with respect to the account) during the calendar year or other appropriate reporting period; and
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 (B)
(B) the total gross proceeds from the sale or redemption of property paid or credited to the account during the calendar year or other appropriate reporting period with respect to which the Reporting Canadian Financial Institution acted as a custodian, broker, nominee, or otherwise as an agent for the Account Holder;
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 (6)
(6) in the case of any Depository Account, the total gross amount of interest paid or credited to the account during the calendar year or other appropriate reporting period; and
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 (7)
(7) in the case of any account not described in subparagraph 2(a)(5) or 2(a)(6) of this Article, the total gross amount paid or credited to the Account Holder with respect to the account during the calendar year or other appropriate reporting period with respect to which the Reporting Canadian Financial Institution is the obligor or debtor, including the aggregate amount of any redemption payments made to the Account Holder during the calendar year or other appropriate reporting period.
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 b)
b) In the case of the United States, with respect to each Canadian Reportable Account of each Reporting U.S. Financial Institution: (1) the name, address, and Canadian TIN of any person that is a resident of Canada and is an Account Holder of the account; (2) the account number (or the functional equivalent in the absence of an account number); (3) the name and identifying number of the Reporting U.S. Financial Institution; (4) the gross amount of interest paid on a Depository Account; (5) the gross amount of U.S. source dividends paid or credited to the account; and (6) the gross amount of other U.S. source income paid or credited to the account, to the extent subject to reporting under chapter 3 of subtitle A or chapter 61 of subtitle F of the U.S. Internal Revenue Code.
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 (1)
(1) the name, address, and Canadian TIN of any person that is a resident of Canada and is an Account Holder of the account;
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 (2)
(2) the account number (or the functional equivalent in the absence of an account number);
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 (3)
(3) the name and identifying number of the Reporting U.S. Financial Institution;
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 (4)
(4) the gross amount of interest paid on a Depository Account;
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 (5)
(5) the gross amount of U.S. source dividends paid or credited to the account; and
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 (6)
(6) the gross amount of other U.S. source income paid or credited to the account, to the extent subject to reporting under chapter 3 of subtitle A or chapter 61 of subtitle F of the U.S. Internal Revenue Code.
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 1
1 For purposes of the exchange obligation in Article 2 of this Agreement, the amount and characterization of payments made with respect to a U.S. Reportable Account may be determined in accordance with the principles of Canada’s tax laws, and the amount and characterization of payments made with respect to a Canadian Reportable Account may be determined in accordance with principles of U.S. federal income tax law.
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 2
2 For purposes of the exchange obligation in Article 2 of this Agreement, the information exchanged shall identify the currency in which each relevant amount is denominated.
Canada–United States Enhanced Tax Information Exchange Agreement Implementation Act — C-10.58 3
3 With respect to paragraph 2 of Article 2 of this Agreement, information is to be obtained and exchanged with respect to 2014 and all subsequent years, except that: a) In the case of Canada: (1) the information to be obtained and exchanged with respect to 2014 is only the information described in subparagraphs 2(a)(1) through 2(a)(4) of Article 2 of this Agreement; (2) the information to be obtained and exchanged with respect to 2015 is the information described in subparagraphs 2(a)(1) through 2(a)(7) of Article 2 of this Agreement, except for gross proceeds described in subparagraph 2(a)(5)(B) of Article 2 of this Agreement; and (3) the information to be obtained and exchanged with respect to 2016 and subsequent years is the information described in subparagraphs 2(a)(1) through 2(a)(7) of Article 2 of this Agreement; b) In the case of the United States, the information to be obtained and exchanged with respect to 2014 and subsequent years is all of the information identified in subparagraph 2(b) of Article 2 of this Agreement.