(December 4, 2014)

On December 4, 2014 the Canadian Department of Finance issued a press release announcing that the Agreement between the Government of Canada and the Government of His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam for the Exchange of Information on Tax Matters (TIEA) will enter into force on December 26, 2014.

Consequently based on Article 12 of the TIEA, the TIEA will have effect:

a)      for tax matters involving intentional conduct which is liable to prosecution under the criminal laws of the applicant Party (irrespective of whether contained in the tax laws, the criminal code or other statutes), on December 26, 2014; and

b)      for all other matters covered in Article 1, on December 26, 2014, but only in respect of taxable periods beginning on or after that date, or where there is no taxable period, all charges to tax arising on or after that date.

Please click here to be forwarded to the full text of the TIEA as published on the website of the Canadian Department of Finance, which will open in a new window. 

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