Focus Taiwan
Date: 2016/12/22
By: Chen Cheng-wei and Ko Lin
Taipei, Dec. 22 (CNA) An agreement between Taiwan and Canada on the avoidance of double taxation
CNA file photo
will be implemented at the start of next year, the Ministry of Finance (MOF) confirmed Thursday.
The agreement will help create a friendlier environment for bilateral investment and cooperation, particularly in the areas of technology, health care, clean energy, sustainable development and services, the ministry said.
Under the agreement, taxes cannot be levied by both sides on the same assets, income or financial transactions, and it applies to residents of both countries, it noted.
“For Taiwanese businesspeople in Canada, as long as they do not have a permanent establishment there, Canada will not tax their operating profits and they will pay 17 percent income tax in Taiwan,” the MOF said. [FULL STORY]
