GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Income Tax Conventions Implementation Act, 1997 — I-3.52 2
2 Pensions arising in a Contracting State and paid to a resident of the other Contracting State may also be taxed in the State in which they arise and according to the law of that State. However, in the case of periodic pension payments, other than payments under the social security legislation in a Contracting State, the tax so charged shall not exceed the lesser of: (a) 15 per cent of the gross amount of the payment; and (b) the rate determined by reference to the amount of tax that the recipient of the payment would otherwise be required to pay for the year on the total amount of the periodic pension payments received by the individual in the year, if the individual were resident in the Contracting State in which the payment arises.
Income Tax Conventions Implementation Act, 1997 — I-3.52 (b)
(b) the rate determined by reference to the amount of tax that the recipient of the payment would otherwise be required to pay for the year on the total amount of the periodic pension payments received by the individual in the year, if the individual were resident in the Contracting State in which the payment arises.
Income Tax Conventions Implementation Act, 1997 — I-3.52 3
3 Annuities arising in a Contracting State and paid to a resident of the other Contracting State may also be taxed in the State in which they arise and according to the law of that State, but the tax so charged shall not exceed 15 per cent of the portion thereof that is subject to tax in that State. However, this limitation does not apply to lump-sum payments arising on the surrender, cancellation, redemption, sale or other alienation of an annuity, or to payments of any kind under an annuity contract the cost of which was deductible, in whole or in part, in computing the income of any person who acquired the contract.
Income Tax Conventions Implementation Act, 1997 — I-3.52 4
4 Notwithstanding anything in this Convention: (a) war pensions and allowances (including pensions and allowances paid to war veterans or paid as a consequence of damages or injuries suffered as a consequence of a war) arising in Canada and paid to a resident of Iceland shall be exempt from tax in Iceland to the extent that they would be exempt from tax if received by a resident of Canada; and (b) benefits under the social security legislation in a Contracting State paid to a resident of the other Contracting State shall be taxable only in the first-mentioned State; and (c) any pension paid by, or out of funds created by, Iceland to an individual in respect of services rendered to Iceland or one of its local authorities shall be taxable only in Iceland provided the total amount of such pension paid in any year does not exceed 24,000 Canadian dollars or its equivalent in Icelandic krones; the competent authorities of the Contracting States may, if necessary, agree to modify the amount referred to in this subparagraph as a result of monetary or economic development; and (d) alimony and other similar payments arising in a Contracting State and paid to a resident of the other Contracting State who is subject to tax therein in respect thereof, shall be taxable only in that other State. However, where a deduction or a credit for alimony or a similar payment is not allowed for the purposes of taxation in the Contracting State in which such payment arises, such payment shall not be taxable in the other Contracting State.
Income Tax Conventions Implementation Act, 1997 — I-3.52 (a)
(a) war pensions and allowances (including pensions and allowances paid to war veterans or paid as a consequence of damages or injuries suffered as a consequence of a war) arising in Canada and paid to a resident of Iceland shall be exempt from tax in Iceland to the extent that they would be exempt from tax if received by a resident of Canada; and
Income Tax Conventions Implementation Act, 1997 — I-3.52 (b)
(b) benefits under the social security legislation in a Contracting State paid to a resident of the other Contracting State shall be taxable only in the first-mentioned State; and
Income Tax Conventions Implementation Act, 1997 — I-3.52 (c)
(c) any pension paid by, or out of funds created by, Iceland to an individual in respect of services rendered to Iceland or one of its local authorities shall be taxable only in Iceland provided the total amount of such pension paid in any year does not exceed 24,000 Canadian dollars or its equivalent in Icelandic krones; the competent authorities of the Contracting States may, if necessary, agree to modify the amount referred to in this subparagraph as a result of monetary or economic development; and
Income Tax Conventions Implementation Act, 1997 — I-3.52 (d)
(d) alimony and other similar payments arising in a Contracting State and paid to a resident of the other Contracting State who is subject to tax therein in respect thereof, shall be taxable only in that other State. However, where a deduction or a credit for alimony or a similar payment is not allowed for the purposes of taxation in the Contracting State in which such payment arises, such payment shall not be taxable in the other Contracting State.
Income Tax Conventions Implementation Act, 1997 — I-3.52 1. (a)
1. (a) Salaries, wages and other similar remuneration, other than a pension, paid by a Contracting State or a political subdivision or a local authority thereof to an individual in respect of services rendered to that State or subdivision or authority shall be taxable only in that State. (b) However, such salaries, wages and other similar remuneration shall be taxable only in the other Contracting State if the services are rendered in that State and the individual is a resident of that State who: (i) is a national of that State; or (ii) did not become a resident of that State solely for the purpose of rendering the services.
Income Tax Conventions Implementation Act, 1997 — I-3.52 (b)
(b) However, such salaries, wages and other similar remuneration shall be taxable only in the other Contracting State if the services are rendered in that State and the individual is a resident of that State who: (i) is a national of that State; or (ii) did not become a resident of that State solely for the purpose of rendering the services.
Income Tax Conventions Implementation Act, 1997 — I-3.52 2
2 The provisions of paragraph 1 shall not apply to salaries, wages and other similar remuneration in respect of services rendered in connection with a business carried on by a Contracting State or a political subdivision or a local authority thereof.
Income Tax Conventions Implementation Act, 1997 — I-3.52
Payments which a student, apprentice or business trainee who is, or was immediately before visiting a Contracting State, a resident of the other Contracting State and who is present in the first-mentioned State solely for the purpose of that individual’s education or training receives for the purpose of that individual’s maintenance, education or training shall not be taxed in that State, provided that such payments arise from sources outside that State.
Income Tax Conventions Implementation Act, 1997 — I-3.52 2
2 However, if such income is derived by a resident of a Contracting State from sources in the other Contracting State, such income may also be taxed in the State in which it arises and according to the law of that State. Where such income is income from an estate or a trust, other than a trust to which contributions were deductible, the tax so charged shall, provided that the income is taxable in the Contracting State in which the beneficial owner is a resident, not exceed 15 per cent of the gross amount of the income.
Income Tax Conventions Implementation Act, 1997 — I-3.52 1
1 In the case of Canada, double taxation shall be avoided as follows: (a) subject to the existing provisions of the law of Canada regarding the deduction from tax payable in Canada of tax paid in a territory outside Canada and to any subsequent modification of those provisions — which shall not affect the general principle hereof — and unless a greater deduction or relief is provided under the laws of Canada, tax payable in Iceland on profits, income or gains arising in Iceland shall be deducted from any Canadian tax payable in respect of such profits, income or gains; (b) where a resident of Iceland derives a gain, referred to in paragraph 7 of Article 13, which may be taxed in Canada, Canada shall, subject to the existing provisions of the law of Canada regarding the deduction from tax payable in Canada of tax paid in a territory outside Canada and to any subsequent modification of those provisions - which shall not affect the general principle hereof - allow as a deduction from any tax payable by that person in respect of such gain, an amount equal to the tax paid in Iceland on that gain; (c) subject to the existing provisions of the law of Canada regarding the taxation of income from a foreign affiliate and to any subsequent modification of those provisions — which shall not affect the general principle hereof — for the purpose of computing Canadian tax, a company which is a resident of Canada shall be allowed to deduct in computing its taxable income any dividend received by it out of the exempt surplus of a foreign affiliate which is a resident of Iceland; (d) where in accordance with any provision of the Convention income derived or capital owned by a resident of Canada is exempt from tax in Canada, Canada may nevertheless, in calculating the amount of tax on other income or capital, take into account the exempted income or capital.
Income Tax Conventions Implementation Act, 1997 — I-3.52 (a)
(a) subject to the existing provisions of the law of Canada regarding the deduction from tax payable in Canada of tax paid in a territory outside Canada and to any subsequent modification of those provisions — which shall not affect the general principle hereof — and unless a greater deduction or relief is provided under the laws of Canada, tax payable in Iceland on profits, income or gains arising in Iceland shall be deducted from any Canadian tax payable in respect of such profits, income or gains;
Income Tax Conventions Implementation Act, 1997 — I-3.52 (b)
(b) where a resident of Iceland derives a gain, referred to in paragraph 7 of Article 13, which may be taxed in Canada, Canada shall, subject to the existing provisions of the law of Canada regarding the deduction from tax payable in Canada of tax paid in a territory outside Canada and to any subsequent modification of those provisions - which shall not affect the general principle hereof - allow as a deduction from any tax payable by that person in respect of such gain, an amount equal to the tax paid in Iceland on that gain;
Income Tax Conventions Implementation Act, 1997 — I-3.52 (c)
(c) subject to the existing provisions of the law of Canada regarding the taxation of income from a foreign affiliate and to any subsequent modification of those provisions — which shall not affect the general principle hereof — for the purpose of computing Canadian tax, a company which is a resident of Canada shall be allowed to deduct in computing its taxable income any dividend received by it out of the exempt surplus of a foreign affiliate which is a resident of Iceland;
Income Tax Conventions Implementation Act, 1997 — I-3.52 (d)
(d) where in accordance with any provision of the Convention income derived or capital owned by a resident of Canada is exempt from tax in Canada, Canada may nevertheless, in calculating the amount of tax on other income or capital, take into account the exempted income or capital.
Income Tax Conventions Implementation Act, 1997 — I-3.52 2
2 In the case of Iceland, double taxation shall be avoided as follows: (a) where a resident of Iceland derives income or owns capital which, in accordance with the provisions of the Convention, may be taxed in Canada, Iceland shall, subject to the provisions of subparagraphs (b) and (c), exempt such income or capital from tax; (b) where a resident of Iceland derives income which, in accordance with the provisions of Articles 10, 11, 12, 16, 17, 18 or 21, may be taxed in Canada, Iceland shall allow as a deduction from the tax on income of that resident an amount equal to the tax paid in Canada; such deduction shall not, however, exceed that part of the tax, as computed before the deduction is given, which is attributable to such items of income derived from Canada; (c) where in accordance with any provision of the Convention income derived or capital owned by a resident of Iceland is exempt from tax in Iceland, Iceland may nevertheless, in calculating the amount of tax on the remaining income or capital of such resident, take into account the exempted income or capital.
Income Tax Conventions Implementation Act, 1997 — I-3.52 (a)
(a) where a resident of Iceland derives income or owns capital which, in accordance with the provisions of the Convention, may be taxed in Canada, Iceland shall, subject to the provisions of subparagraphs (b) and (c), exempt such income or capital from tax;
Income Tax Conventions Implementation Act, 1997 — I-3.52 (b)
(b) where a resident of Iceland derives income which, in accordance with the provisions of Articles 10, 11, 12, 16, 17, 18 or 21, may be taxed in Canada, Iceland shall allow as a deduction from the tax on income of that resident an amount equal to the tax paid in Canada; such deduction shall not, however, exceed that part of the tax, as computed before the deduction is given, which is attributable to such items of income derived from Canada;
Income Tax Conventions Implementation Act, 1997 — I-3.52 (c)
(c) where in accordance with any provision of the Convention income derived or capital owned by a resident of Iceland is exempt from tax in Iceland, Iceland may nevertheless, in calculating the amount of tax on the remaining income or capital of such resident, take into account the exempted income or capital.
Income Tax Conventions Implementation Act, 1997 — I-3.52 1
1 Nationals of a Contracting State shall not be subjected in the other Contracting State to any taxation or any requirement connected therewith which is more burdensome than the taxation and connected requirements to which nationals of that other State in the same circumstances, in particular with respect to residence, are or may be subjected. This provision shall, notwithstanding the provisions of Article 1, also apply to individuals who are not residents of one or both of the Contracting States.
Income Tax Conventions Implementation Act, 1997 — I-3.52 4
4 Enterprises of a Contracting State, the capital of which is wholly or partly owned or controlled, directly or indirectly, by one or more residents of the other Contracting State, shall not be subjected in the first-mentioned State to any taxation or any requirement connected therewith which is more burdensome than the taxation and connected requirements to which other similar enterprises which are residents of the first-mentioned State, the capital of which is wholly or partly owned or controlled, directly or indirectly, by one or more residents of a third State, are or may be subjected.
Income Tax Conventions Implementation Act, 1997 — I-3.52 1
1 Where a person considers that the actions of one or both of the Contracting States result or will result for that person in taxation not in accordance with the provisions of this Convention, that person may, irrespective of the remedies provided by the domestic law of those States, address to the competent authority of the Contracting State of which that person is a resident or, if that person’s case comes under paragraph 1 of Article 24, to that of the Contracting State of which that person is a national, an application in writing stating the grounds for claiming the revision of such taxation. To be admissible, the said application must be submitted within two years from the first notification of the action resulting in taxation not in accordance with the provisions of the Convention.
Income Tax Conventions Implementation Act, 1997 — I-3.52 3
3 A Contracting State shall not, after the expiry of the time limits provided in its national laws and, in any case, after six years from the end of the taxable period in which the income concerned has accrued, increase the tax base of a resident of either of the Contracting States by including therein items of income which have also been charged to tax in the other Contracting State. This paragraph shall not apply in the case of fraud, wilful default or neglect.
Income Tax Conventions Implementation Act, 1997 — I-3.52 6
6 If any difficulty or doubt arising as to the interpretation or application of the Convention cannot be resolved by the competent authorities pursuant to the preceding paragraphs of this Article, the case may, if both competent authorities and the taxpayer agree, be submitted for arbitration, provided that the taxpayer agrees in writing to be bound by the decision of the arbitration board. The decision of the arbitration board in a particular case shall be binding on both States with respect to that case. The procedure shall be established in an exchange of notes between the Contracting States.
Income Tax Conventions Implementation Act, 1997 — I-3.52 1
1 The competent authorities of the Contracting States shall exchange such information as is relevant for carrying out the provisions of this Convention or of the domestic laws in the Contracting States concerning taxes covered by the Convention insofar as the taxation thereunder is not contrary to the Convention. The exchange of information is not restricted by Article 1. Any information received by a Contracting State shall be treated as secret in the same manner as information obtained under the domestic laws of that State and shall be disclosed only to persons or authorities (including courts and administrative bodies) involved in the assessment or collection of, the enforcement or prosecution in respect of, or the determination of appeals in relation to taxes. Such persons or authorities shall use the information only for such purposes. They may disclose the information in public court proceedings or in judicial decisions.
Income Tax Conventions Implementation Act, 1997 — I-3.52
Nothing in this Convention shall affect the fiscal privileges of members of diplomatic missions or consular posts under the general rules of international law or under the provisions of special agreements.
Income Tax Conventions Implementation Act, 1997 — I-3.52 2
2 Nothing in the Convention shall be construed as preventing Canada from imposing a tax on amounts included in the income of a resident of Canada with respect to a partnership, trust, or controlled foreign affiliate, in which that resident has an interest.
Income Tax Conventions Implementation Act, 1997 — I-3.52 4
4 For the purposes of paragraph 3 of Article XXII (Consultation) of the General Agreement on Trade in Services, the Contracting States agree that, notwithstanding that paragraph, any dispute between them as to whether a measure falls within the scope of this Convention may be brought before the Council for Trade in Services, as provided by that paragraph, only with the consent of both Contracting States. Any doubt as to the interpretation of this paragraph shall be resolved under paragraph 4 of Article 25 or, failing agreement under that procedure, pursuant to any other procedure agreed to by both Contracting States.
Income Tax Conventions Implementation Act, 1997 — I-3.52 1
1 The Governments of the Contracting States shall notify each other through diplomatic channels that the constitutional requirements for the entry into force of this Convention have been complied with.
Income Tax Conventions Implementation Act, 1997 — I-3.52 2
2 The Convention shall enter into force thirty days after the date of the later of the notifications referred to in paragraph 1 and its provisions shall have effect in both Contracting States: (a) in the case of Canada: (i) in respect of tax withheld at the source on amounts paid or credited to non-residents on or after the first day of January in the calendar year next following the year in which the later notice is given; and (ii) in respect of other Canadian tax, for taxation years beginning on or after the first day of January in the calendar year next following the year in which the later notice is given; (b) in the case of Iceland: (i) in respect of taxes withheld at source, on income derived on or after the first day of January in the calendar year next following the year in which the later notice is given; and (ii) in respect of other taxes on income or capital, for taxes chargeable for any tax year beginning on or after the first day of January in the calendar year next following the year in which the later notice is given.
Income Tax Conventions Implementation Act, 1997 — I-3.52 (a)
(a) in the case of Canada: (i) in respect of tax withheld at the source on amounts paid or credited to non-residents on or after the first day of January in the calendar year next following the year in which the later notice is given; and (ii) in respect of other Canadian tax, for taxation years beginning on or after the first day of January in the calendar year next following the year in which the later notice is given;
Income Tax Conventions Implementation Act, 1997 — I-3.52 (i)
(i) in respect of tax withheld at the source on amounts paid or credited to non-residents on or after the first day of January in the calendar year next following the year in which the later notice is given; and
Income Tax Conventions Implementation Act, 1997 — I-3.52 (ii)
(ii) in respect of other Canadian tax, for taxation years beginning on or after the first day of January in the calendar year next following the year in which the later notice is given;
Income Tax Conventions Implementation Act, 1997 — I-3.52 (b)
(b) in the case of Iceland: (i) in respect of taxes withheld at source, on income derived on or after the first day of January in the calendar year next following the year in which the later notice is given; and (ii) in respect of other taxes on income or capital, for taxes chargeable for any tax year beginning on or after the first day of January in the calendar year next following the year in which the later notice is given.
Income Tax Conventions Implementation Act, 1997 — I-3.52 (i)
(i) in respect of taxes withheld at source, on income derived on or after the first day of January in the calendar year next following the year in which the later notice is given; and
Income Tax Conventions Implementation Act, 1997 — I-3.52 (ii)
(ii) in respect of other taxes on income or capital, for taxes chargeable for any tax year beginning on or after the first day of January in the calendar year next following the year in which the later notice is given.
Income Tax Conventions Implementation Act, 1997 — I-3.52 (a)
This Convention shall remain in force until terminated by a Contracting State. Either Contracting State may terminate the Convention, through diplomatic channels, by giving notice of termination in writing at least six months before the end of any calendar year. In such event, the Convention shall cease to have effect in both Contracting States: (a) in the case of Canada: (i) in respect of tax withheld at the source on amounts paid or credited to non-residents on or after the first day of January in the calendar year next following the year in which the notice is given; and (ii) in respect of other Canadian tax, for taxation years beginning on or after the first day of January in the calendar year next following the year in which the notice is given; (b) in the case of Iceland: (i) in respect of taxes withheld at source, on income derived on or after the first day of January in the calendar year next following the year in which the notice is given; and (ii) in respect of other taxes on income or capital, for taxes chargeable for any tax year beginning on or after the first day of January in the calendar year next following the year in which the notice is given.