Finance committee  It's unique in protecting the U.S. tax base from foreigners using Cyprus to invest in the United States. As I indicated later, that may not be as big a problem in Canada as it is for us, because we will generally reduce our tax down to zero, certainly on interest on royalties dow

Finance committee  I don't think I would endorse nothing at all. The exchange-of-information provision is useful. It has a limited utility. It's basically designed to produce information in specific cases. If a tax administration has a particular taxpayer and the information is in the treaty partne

Finance committee  I do not see that. The treaties are designed to avoid double taxation. They're basically focused on foreigners investing in Canada as opposed to Canadian companies investing abroad. I do know enough about Canadian taxation to know that you have a greater degree of connection bet

Finance committee  I do.

Finance committee  Yes. The United States has automatic information exchange with many countries. In fact, that's the rule in the United States. I don't know that it is.... Automatic information exchange, as far as I understand, basically involves your turning over the information you collect to th

Finance committee  From my vantage point, which is of course from the United States and not Canada, I don't have much objection to any of these six agreements, frankly. The two information exchange agreements are broadly consistent with what's in the OECD. The ones with Namibia and Serbia are prett

Finance committee  The treaties you're examining today basically relieve both excess taxation and, to some extent, double taxation, while protecting the Canadian tax base on inbound investment from abroad. I don't think these treaties have much to do with outbound investment from Canada. Treaties

Finance committee  Treaties are there to address double-taxation. That's their principal function. For me, the main reason that a treaty exists is that it establishes an international dispute-resolution mechanism to resolve cross-border disputes. Because we don't have a world tax court, we need to

Finance committee  You need treaties because you don't want double taxation, but they're not going to solve the tax-haven problem.

Finance committee  I don't think you can look to treaties as a primary tool in the fight against tax evasion, because the function of a tax treaty is basically to relieve taxation. In the United States it's a constitutional matter that you can't use a treaty to increase taxation. To look to a treat

Finance committee  I did not hear the English translation, but that's okay; I understand French.

Finance committee  Very well. I'm very happy to respond to any questions the committee may have. Thank you.

Finance committee  Thank you. My name is H. David Rosenbloom. I am a tax attorney and a professor of tax law. My area of specialization is international, or cross-border, taxation. I am a member of Caplin and Drysdale, a U.S. law firm. I am also director of the international tax program at New Yo

Finance committee  I can. Thank you very much.

Finance committee  First of all, I think the principal problem that I am aware of in the United States with entities and their ownership is probably Delaware, which allows for companies to be owned with bearer shares. There has been a lot of complaint about that. One of the problems I have in add