Yes, assuming that none of the exemptions Mr. Ernewein described apply and the tax therefore does apply, you as the payer of the interest are required to withhold from the amount you pay the amount of tax owing.
December 6th, 2007 / 3:40 p.m.
Senior Chief, Tax Legislation Division, Tax Policy Branch, Department of Finance
Yes, assuming that none of the exemptions Mr. Ernewein described apply and the tax therefore does apply, you as the payer of the interest are required to withhold from the amount you pay the amount of tax owing.
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