Taiwan, Canada sign agreement on avoidance of double taxation
Taipei, Jan. 15 (CNA) Taiwan and Canada have signed an agreement to prevent the taxation of the same income twice in the two countries, the Ministry of Foreign Affairs said Friday.
The signing was completed earlier in the day and will likely take effect on Jan. 1, 2017 after the two sides complete the necessary domestic procedures, the ministry said in a statement.
The ministry hoped the agreement will help create a friendlier environment for bilateral investment, especially considering the potential for further cooperation in the technology, health care, clean energy, sustainable development and services sectors.
“The signing of the agreement will help Taiwan and Canada further strengthen bilateral trade relations based on a solid foundation,” it said.
Canada is Taiwan’s 24th largest trade partner in the world and 17th largest export market, while Taiwan is Canada’s 12th largest trade partner around the world, the ministry said.
