Greece – Canada accord

Foreign minister Dora Bakoyannis and her Canadian counterpart Lawrence Cannon (foto) on Monday signed in Athens a bilateral agreement between Greece and Canada on the Avoidance of Double Taxation of Income or Capital and the Prevention of Tax Evasion.
According to a foreign ministry announcement, the agreement settles the taxation of income gained through activities in Canada by natural or legal persons resident in Greece (and vice versa).
It also includes favourable provisions regarding Greek companies intending to do business in Canada. It determines the extent of the contracting parties’ tax competencies and ensures a stable tax regime and a level-playing field for investors. The signing of this agreement opens up new horizons for the economic relations of the two countries.
Tax barriers (double taxation) are to a large extent removed, cooperation prospects between the tax authorities of the two countries are strengthened with a view to the prevention of tax evasion, and more favourable conditions are created for the operation of Greek businesses that are active in Canada.
This bilateral agreement is now the most important form of economic cooperation between Canada and Greece and it is expected to work as an incentive towards further improving their economic and trade relations, the ministry announcement said.
Foreign minister Dora Bakoyannis and her Canadian counterpart Lawrence Cannon on Monday signed a bilateral agreement between Greece and Canada on the Avoidance of Double Taxation of Income or Capital and the Prevention of Tax Evasion.