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Canada and Mexico Income Tax Treaties: Contrasting and Analyzing Two Typical U.S. Treaties

Recording of a 110-minute CPE webinar with Q&A

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Conducted on Tuesday, December 14, 2021

Recorded event now available

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This webinar will provide background on treaty provisions, then review the Mexico-United States and Canada-United States income tax treaties in detail. The treaties are juxtaposed, allowing advisers to grasp standard components of modern and dated U.S. income tax treaties with other countries.

Description

In working with nonresident taxpayers and U.S. tax ramifications, a functional understanding of income tax treaties is a prerequisite. The United States maintains various income tax treaties with other countries; each treaty has specific terms. While some level of uniformity exists under income tax treaties, specific terms--and resulting benefits--are subject to substantive variance between treaties.

There are distinct but common differences in the treaties with Canada and Mexico. While both treaties address double taxation and contain a saving clause, the former treaty is more modernized while the latter is not. Interpreting U.S. income tax treaties and their benefits for digitized business enterprises is crucial in today's environment.

Listen as our panel of international tax experts compares and contrasts two typical U.S. income tax treaties and explains how to identify the critical tax components of these agreements for advisers working with multinational taxpayers.

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Outline

  1. U.S. income tax treaties: an introduction
  2. Common components
    1. Mexico
    2. Canada
  3. Key differences
    1. Mexico
    2. Canada
  4. Tips for analyzing U.S. income tax treaties
  5. New considerations for digital commerce

Benefits

The panel will cover these and other crucial issues:

  • How to analyze U.S. income tax treaties for key tax components
  • Applying income tax treaty benefits in a digital business environment
  • Commonalities found in the U.S. income tax treaties with Canada, Mexico, and other countries
  • Distinct differences in the U.S. income tax treaties with Canada and Mexico

Faculty

McCormick, Patrick
Patrick J. McCormick, J.D., LL.M.

Partner
Culhane Meadows Haughian & Walsh

Mr. McCormick specializes in the areas of international taxation, tax compliance, and offshore reporting...  |  Read More

San Martin, Jorge
Jorge San Martin

Partner
SMPS Legal

Mr. San Martín represents national and multinational clients in local and international tax matters regarding...  |  Read More

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