A protocol amending the convention between the Government of Canada and the Government of the Grand Duchy of Luxembourg for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income and on Capital, signed in Luxembourg on Sept. 10, 1999, was signed on May 8, 2012, in Montreal, … Read more
Minister of State (Finance) Ted Menzies (Macleod, AB) highlighted Canada’s strong fiscal management and the need for decisive leadership in addressing the ongoing sovereign debt pressures in Europe. Attending the Medium-Term Budgetary Frameworks and Fiscal Consolidation Programs conference hosted by the International Monetary Fund’s Fiscal Affairs Department and Sweden’s Ministry of Finance, Menzies will engage … Read more
Finance Minister Jim Flaherty (Whitby-Oshawa, ON) and Parliamentary Secretary to the Minister of Finance Shelly Glover (Saint-Boniface, MB) struck the last penny produced at the Royal Canadian Mint’s high-speed manufacturing facility in Winnipeg. Flaherty said for over a hundred years, the penny played an important role in Canada’s coinage system, although the cost of producing … Read more
The Department of Finance announced that Canada’s official international reserves increased by an amount equivalent to US$194 million during April to US$69,544 million. More information is available on the website.
Finance Minister Jim Flaherty (Whitby-Oshawa, ON) highlighted the government’s contributions to helping build a strong manufacturing sector and how key elements of Economic Action Plan 2012 will significantly strengthen the ability of Canadian businesses to grow and create high-value jobs. Speaking at the Waterloo Region Manufacturing Innovation Network’s Manufacturing Summit in Kitchener, ON, Flaherty said … Read more
A convention between Canada and the Republic of Serbia for the avoidance of double taxation with respect to taxes on income and on capital was signed on April 27, 2012, in Belgrade. The Convention limits the rate of withholding tax to 5 per cent for dividends paid between affiliated companies, to 15 per cent for … Read more
Finance Minister Jim Flaherty (Whitby-Oshawa, ON) released the Fiscal Monitor for February 2012. There was a budgetary surplus of $1.5 billion in February 2012, compared to a deficit of $0.6 billion in February 2011. Revenues increased by $1.1 billion, or 5.2 per cent, reflecting increases in most revenue streams. Program expenses were down $0.7 billion, … Read more
Finance Minister Jim Flaherty (Whitby-Oshawa, ON) introduced Bill C-38, the Jobs, Growth and Long-term Prosperity Act. The act proposes to legislate key elements of Economic Action Plan 2012, as well as other previously announced measures. Flaherty said Economic Action Plan 2012 takes responsible action to support the economy, while keeping taxes low and returning to … Read more
A statement prepared for the development committee of the Boards of Governors of the World Bank and International Monetary Fund is available on Finance Canada's website. A statement prepared for the International Monetary and Financial Committee of the Board of Governors of the International Monetary Fund is available on Finance Canada's website. Conservative MP … Read more
Finance Minister Jim Flaherty (Whitby-Oshawa, ON) will be in Washington, DC, from April 19-21, 2012, to advance Canada’s global economic priorities during meetings of the Group of Twenty (G-20), International Monetary Fund and World Bank. Flaherty said Canada will work with its G-20 partners to address immediate vulnerabilities, strengthen the foundations for growth over the … Read more
