Common use of Base Erosion and Profit Shifting Clause in Contracts

Base Erosion and Profit Shifting. As regards to the application of this Agreement at any time by a Competent Authority of a Jurisdiction, any term not otherwise defined in this Agreement will, unless the context otherwise requires or the Competent Authorities agree to a common meaning (as permitted by domestic law), have the meaning that it has at that time under the law of the Jurisdiction applying this Agreement, any meaning under the applicable tax laws of that Jurisdiction prevailing over a meaning given to the term under other laws of that Jurisdiction.

Base Erosion and Profit Shifting. As regards to the application of this Agreement at any time by a Competent Authority of a Jurisdictionjurisdiction, any term not otherwise defined in this Agreement will, unless the context otherwise requires or the Competent Authorities agree to a common meaning (as permitted by domestic law), have the meaning that it has at that time under the law of the Jurisdiction jurisdiction applying this Agreement, any meaning under the applicable tax laws of that Jurisdiction jurisdiction prevailing over a meaning given to the term under other laws of that Jurisdictionjurisdiction.