mutual agreement procedure definition

mutual agreement procedure means a mutual agreement procedure contained in arrangements having the force of law by virtue of section 826 of the Act of 1997 and the procedures for the purpose of resolving difficulties arising out of the application of those arrangements;
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mutual agreement procedure is the term given to the provisions that are designed to provide a method of resolving difficulties arising out of the application of a particular agreement, and to provide for consultation with a view to reaching a satisfactory solution where a taxpayer is subject to taxation contrary to the provisions of the agreement. Typical examples of circumstances within the procedure are given in the OECD commentary to Article 25 of both the 1977 and 1922 OECD Model Conventions. Where a person considers that the actions of one or both of the States result or will result for him in taxation not in accordance with the provisions of this Treaty, he may present his case to the competent authority of the State of which he is resident. If not resident in either State (but a national of one of them) the case must be presented to the State of which he is a national. This is so irrespective of the remedies provided by domestic law. The two tax authorities will try to resolve the case by mutual agreement. They will also try to agree on definitions of terms not specifically defined in the Treaty and on general matters of interpretation of the Treaty. Thus this Article removes the need for the tax authorities in each State to go through diplomatic channels; they may simply contact each other directly. The mutual agreement procedure is commonly used to decide matters concerning income and expense allocations and transfer pricing.
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mutual agreement procedure. MAP’)” – A means through which tax administrations consult to resolve disputes regarding the application of double tax conventions. This procedure, described and authorized by Article 25 of the OECD MTC and Article 25 of the UN MTC, can be used to eliminate double taxation that could arise from a transfer pricing adjustment.14
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Examples of mutual agreement procedure in a sentence

  • Under such provisions compa- xxxx of the type concerned would remain entitled to the protec- tion offered under Article 24 (Non-discrimination) and to the benefits of Article 25 (Mutual agreement procedure) and they would be subject to the provisions of Article 26 (Exchange of information).” [para.

  • Article 24 (Mutual agreement procedure), paragraph 2 In the case of Portugal any agreement reached shall be implemented notwithstanding any time limits in its domestic law.

  • Promotion to Management or Positions Employees transferred to an excepted position or on leave of absence will have the appropriate notation placed opposite their names.

  • Article 7 Mutual agreement procedure Where difficulties or doubts arise between the parties regarding the implementation or interpretation of this Agreement, the contracting parties shall use their best endeavours to resolve the matter by mutual agreement.

  • Mutual agreement procedure for resolving issues such as MAP MTPA double taxation and exchange of information under the relevant DTAs. A multilateral TPA entered into between TAJ and the relevant competent authorities of two or more countries with which Jamaica has DTAs. It includes an agreement, under the MAP articles in the relevant DTAs, covering certain transactions or arrangements between the taxpayer and non-resident connected persons.

  • In the absence of such agreement, such person shall not be entitled to any benefits under this Convention, except that such person may claim the benefits of Articles 23 (Non­discrimination) and 24 (Mutual agreement procedure).

  • Paragraph 3 contains the following wording in item a: »the provisions of Article 25 (Mutual agreement procedure) of this Convention exclusively shall apply to any dispute concerning whether a measure is within the scope of this Conven- tion, and the procedures under this Convention exclusively shall apply to that dispute«.

  • In the absence of such agreement, such person shall not be entitled to any benefits under this Convention, except that such person may claim the benefits of Articles 23 (Non•discrimination) and 24 (Mutual agreement procedure).

Related to mutual agreement procedure

  • Mutual Agreement is defined to mean an agreement between the Union and the Employer.

  • Mutual aid agreement means an agreement between the City and a town or other city for the City’s fire department to provide assistance to the fire department of a town or other city.

  • Mediation agreement means a written agreement between the parties to a mediation meeting.

  • Commercial Agreement means an agreement, other than an agency agreement, made between carriers and relating to the provision of their joint services for carriage of passengers by air;

  • Conciliation agreement means a written agreement setting forth the resolution of the issues in conciliation.

  • Variation Procedure means the procedure for carrying out a Variation as set out in Clause 16.1 (Variation Procedure);

  • arbitration agreement means an agreement by the parties to submit to arbitration all or certain disputes which have arisen or which may arise between them in respect of a defined legal relationship, whether contractual or not;

  • Collaboration Agreement has the meaning set forth in the Recitals.

  • Addendum means a written official modification to an IFB.

  • Quality Agreement has the meaning set forth in Section 9.6.

  • Interlocal Agreement means an agreement entered into under this act.

  • Formal Agreement means the formal Agreement for Sale and Purchase of theProperty to be executed by the Vendor and the Purchaser in accordance with Clause 5.1 of the Conditions of Sale;

  • Implementation Agreement means the Implementation Agreement dated ……… by and between the GOB, PGCB and the Company in connection with the Project, and also includes any amendment of it made from time to time;

  • Technical Agreement means any technical or quality agreements signed by You (or Your Affiliate) and RB (or RB’s Affiliates) specifying technical and quality responsibilities in respect of the Output entered into prior to the date of the Order.

  • Local Agreement shall have the meaning set forth in Section 2.08.

  • Dispute Resolution Procedure means the procedure for resolution of Disputes set forth in Article 26;

  • Diversion agreement means a mechanism designed to hold a child accountable for his or her behavior and, if appropriate, securing services to serve the best interest of the child and to provide redress for that behavior without court action and without the creation of a formal court record;

  • Agreement Disputes shall have the meaning set forth in Section 6.1.

  • Cooperation Agreement means that certain Mortgage Loan Cooperation Agreement, dated as of the Closing Date, among Borrower, Lender and Sponsor, as the same may from time to time be amended, restated, replaced, supplemented or otherwise modified in accordance herewith.

  • Framework Agreement means the Clauses of this Framework Agreement together with the Framework Schedules and annexes to it;

  • Manufacturing Agreement has the meaning set forth in Section 2.6.

  • Commercial Agreements means all or any Agreement or Agreements with any third party including but not limited to broadcasting, media, sponsorship, marketing, merchandising, licensing and advertising, for the general promotion of each or any of the Clubs in the Competition and the Company, and which have the object of promoting the welfare and general commercial interest and increasing the financial resources of each of the Clubs, the Company and the Competition.

  • Collaborative practice agreement means a written agreement

  • Termination Agreement has the meaning set forth in the Recitals.

  • Direct Ordering Procedure means the ordering procedure set out in paragraph 2 of Schedule 5 (Ordering Procedure) of this Framework Agreement;

  • Individual Agreement means an employment, consulting or similar agreement between a Participant and the Company or one of its Subsidiaries or Affiliates.