Tax Convention Signed Between Canada and Finland

News Release

September 20, 2006

Full text of the Convention

A new Convention between Canada and Finland for the avoidance of double
taxation and the prevention of fiscal evasion with respect to taxes on
income was signed on July 20, 2006, in Helsinki.
The Convention limits the rate of withholding tax to 5% for dividends
between affiliated companies, to 15% for dividends in all other cases, to
10% for interest, and to 10% for royalties. The Convention also provides a
withholding tax exemption for certain copyright royalties, for certain
payments made for the use of any patent or computer software, and for
information concerning industrial, commercial or scientific experience.
The Convention will enter into force 30 days after Canada and Finland
have notified each other that all the necessary measures to give the
Convention the force of law in their respective countries have been
completed. The Convention will have effect, in respect of tax withheld at
source on amounts paid or credited to non-residents, as of the beginning
of the calendar year in which the Convention enters into force; and, in
respect of other taxes, for taxation years beginning in the calendar year
in which the Convention enters into force.
The existing Convention between Canada and Finland, signed at Helsinki
on the 28th of May 1990, shall cease to have effect from the dates on
which the new Convention becomes effective.
For further information contact:
Parry Athenaios
Tax Legislation Division
Phone: (613) 992-5864

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Tax Convention Signed Between Canada and Finland

News Release

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