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Legal Update

New Protocol to US-Canada Tax Treaty Would Eliminate Withholding Tax on Interest Payments

21 September 2007
Mayer Brown Legal Update
On September 21, 2007, United States Treasury Secretary Henry Paulson and Canadian Finance Minister Jim Flaherty signed the much anticipated 5th protocol to the existing United States-Canada income tax treaty (the "Treaty"). If ratified, the protocol will make a number of significant changes to the Treaty.
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