Finance expects to release synthesized Treaties starting in early 2020

In addition to noting the release starting about yesterday of comfort letters (e.g., the one of December 2, 2019) on pipeline transactions of estates with non-resident beneficiaries, Ted Cook also noted that 24 of the Canada’s covered tax agreements will come into effect on January 1, 2010, including for:

• Australia;
• France;
• India;
• Japan;
• Luxembourg;
• the Netherlands; and
• the UK.

More of Canada’s tax treaties will become covered by the MLI based on their ratification (for an expected total of at least 67).

After consulting with its partner jurisdictions, Finance expects to provide its first lot of “synthesized” treaty texts (i.e., showing the effect of the MLI) in early 2020.

Ted Cook, 3 December 2019 Finance Update.