Tax Information Exchange Agreement Between Canada and the Cook Islands

From Department of Finance Canada website:

“An Agreement between Canada and the Cook Islands for the exchange of information on tax matters was signed on June 15, 2015. The Agreement shall enter into force on the date of the later notice by which each Contracting Party has notified the other of the completion of its necessary internal procedures for entry into force of the Agreement.

Consistent with Canada’s international efforts to promote transparency and effective exchange of tax information, the Agreement provides for the mutual exchange of tax information that is possessed by, or accessible to, the taxation authorities of either jurisdiction (in the case of Canada, the Canada Revenue Agency), in order to better administer and enforce taxation laws and to prevent international fiscal evasion. The Agreement is based on the Organisation for Economic Cooperation and Development’s internationally agreed standard on exchange of tax information upon request.”

The complete text of the agreement is available here.

To this day, 22 agreements are in force, one is signed but not yet in force (with the Cook Islands) and seven more are under negotiation. The list is available here.

Robert Robillard, Ph.D., CPA, CGA, MBA, M.Sc. Econ.
Senior Partner, DRTP Consulting Inc.
514-742-8086; robertrobillard “at” drtp.ca
www.drtp.ca

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