Page:United States Statutes at Large Volume 56 Part 2.djvu/325

This page needs to be proofread.


CANADA-DOUBLE TAXATION--MAR . 4,1942 ARTICLE XVIII The competent authorities of the two contracting States may prescribe regulations to carry into effect the present Convention within the respective States and rules with respect to the exchange of information. The competent authorities of the two contracting States may com- municate with each other directly for the purpose of giving effect to the provisions of the present Convention. ARTICLE XIX With a view to the prevention of fiscal evasion, each of the contract- ing States undertakes to furnish to the other contracting State, as provided in the succeeding Articles of this Convention, the informa- tion which its competent authorities have at their disposal or are in a position to obtain under its revenue laws in so far as such information may be of use to the authorities of the other contracting State in the assessment of the taxes to which this Convention relates. The information to be furnished under the first paragraph of this Article, whether in the ordinary course or on request, may be ex- changed directly between the competent authorities of the two con- tracting States. ARTICLE XX 1. The competent authorities of the United States of America shall forward to the competent authorities of Canada as soon as practicable after the close of each calendar year the following information relating to such calendar year: The names and addresses of all persons whose addresses are within Canada and who derive from sources within the United States of America dividends, interest, rents, royalties, salaries, wages, pen- sions, annuities, or other fixed or determinable annual or peri- odical profits and income, showing the amount of such profits and income in the case of each addressee. 2. The competent authorities of Canada shall forward to the compe- tent authorities of the United States of America as soon as practicable after the close of each calendar year the following information relating to such calendar year: (a) The names and addresses of all persons whose addresses are within the United States of America and who derive from sources within Canada dividends, interest, rents, royalties, salaries, wages, pensions, or other fixed or determinable annual or periodical profits and income, showing the amount of such profits and in- come in the case of each addressee. (b) The names and addresses of all persons whose addresses are outside of Canada and who derive through a nominee, or agent, or custodian in Canada income from sources within the United States of America, and who are not entitled to the reduced rate at 15 percent with respect to such income provided in Article XI Regulations. Direct communi- cations. Prevention of fiscal evasion; information. Exchange of intfor mation. 56 STAT.] 1405