This bill was last introduced in the 38th Parliament, 1st Session, which ended in November 2005.
This bill has received Royal Assent and is now law.
This is from the published bill. The Library of Parliament often publishes better independent summaries.
The purpose of this enactment is to implement tax treaties that have been concluded with Gabon, Ireland, Armenia, Oman and Azerbaijan.
Part 1 implements a tax treaty with Gabon. This is the first time that Canada has concluded a tax treaty with that State.
Part 2 implements the most recent tax treaty with Ireland.
Parts 3 to 5 implement tax treaties with Armenia, Oman and Azerbaijan, respectively. This is the first time that Canada has concluded tax treaties with those States.
The tax treaties implemented by this enactment reflect efforts to update and expand Canada’s network of tax treaties. Those treaties are generally patterned on the Model Double Taxation Convention prepared by the Organisation for Economic Co-operation and Development.
Tax treaties have two main objectives: the avoidance of double taxation and the prevention of fiscal evasion. Since they contain taxation rules that are different from the provisions of the Income Tax Act, they become effective only after an Act giving them precedence over domestic legislation is passed by Parliament. The process is initiated by the tabling of a Bill such as this one.
All sorts of information on this bill is available at LEGISinfo, an excellent resource from the Library of Parliament. You can also read the full text of the bill.