9911796707
TMI BlogMutual Agreement ProcedureX X X X Extracts X X X X X X X X Extracts X X X X ..... of the action resulting in taxation not in accordance with the provisions of the Covered Tax Agreement. 2. The competent authority shall endeavour, if the objection appears to it to be justified and if it is not itself able to arrive at a satisfactory solution, to resolve the case by mutual agreement with the competent authority of the other Contracting Jurisdiction, with a view to the avoidance of taxation which is not in accordance with the Covered Tax Agreement. Any agreement reached shall be implemented notwithstanding any time limits in the domestic law of the Contracting Jurisdictions. 3. The competent authorities of the Contracting Jurisdictions shall endeavour to resolve by mutual agreement any difficulties or doubts arising as to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n of a Covered Tax Agreement describing the time period within which such a case must be presented. b) i) The first sentence of paragraph 2 shall apply in the absence of provisions of a Covered Tax Agreement that provide that the competent authority that is presented with the case by the person referred to in paragraph 1 shall endeavour, if the objection appears to it to be justified and if it is not itself able to arrive at a satisfactory solution, to resolve the case by mutual agreement with the competent authority of the other Contracting Jurisdiction, with a view to the avoidance of taxation which is not in accordance with the Covered Tax Agreement. ii) The second sentence of paragraph 2 shall apply in the absence of provisions of a Cov ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... estic law of those Contracting Jurisdictions, that person may present the case to the competent authority of the Contracting Jurisdiction of which the person is a resident or, if the case presented by that person comes under a provision of a Covered Tax Agreement relating to non-discrimination based on nationality, to that of the Contracting Jurisdiction of which that person is a national; and the competent authority of that Contracting Jurisdiction will implement a bilateral notification or consultation process with the competent authority of the other Contracting Jurisdiction for cases in which the competent authority to which the mutual agreement procedure case was presented does not consider the taxpayer s objection to be justified; b) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n attributable to the permanent establishment (this provision shall not apply in the case of fraud, gross negligence or wilful default); and B) the Contracting Jurisdictions shall not include in the profits of an enterprise, and tax accordingly, profits that would have accrued to the enterprise but that by reason of the conditions referred to in a provision in the Covered Tax Agreement relating to associated enterprises have not so accrued, after a period that is mutually agreed between both Contracting Jurisdictions from the end of the taxable year in which the profits would have accrued to the enterprise (this provision shall not apply in the case of fraud, gross negligence or wilful default). 6. a) Each Party that has not made a reservat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vered Tax Agreement only to the extent that those provisions are incompatible with the second sentence of paragraph 1; ii) the list of its Covered Tax Agreements which contain a provision that provides that a case referred to in the first sentence of paragraph 1 must be presented within a specific time period that is at least three years from the first notification of the action resulting in taxation not in accordance with the provisions of the Covered Tax Agreement, as well as the article and paragraph number of each such provision; the second sentence of paragraph 1 shall not apply to a Covered Tax Agreement where any Contracting Jurisdiction has made such a notification with respect to that Covered Tax Agreement. c) Each Party shall noti ..... X X X X Extracts X X X X X X X X Extracts X X X X
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