Spain and Canada sign protocol to tax treaty

Spain and Canada have signed a protocol their update their tax treaty, the Spanish government announced on November 18.

The new protocol would update a treaty signed by the countries in 1976 that has been in force since December 1980.

The new agreement reduces withholding tax rates on dividend and interest payments and increases exemptions from these taxes, the Spanish government said. It also includes a general anti-abuse rule to prevent treaty shopping and includes updated provisions on assistance for tax collection, exchange of information, and mutual agreement procedures.

See,

• Spanish government release