“Today, tax withheld at source is pretty much a universal practice enforced by foreign governments against interest and dividend income earned by non-resident investors. For example, a Canadian resident who earns a dividend on a security purchased on a German exchange will be subject to withholding tax levied by the German equivalent of the CRA in Canada (or the IRS in the US).  In our example, the Canadian resident will also be required to declare the foreign earned interest and/or dividend income and pay tax to the Canadian government. This places the investor in the inequitable position of two jurisdictions levying tax on the same income.”

http://www.internationalman.com/articles/taxation-and-trading-on-foreign-markets

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