Examples of OECD Model Tax Convention in a sentence
Serbia shall also complete the network of bilateral Agreements with Member States, along the lines of the latest update of the OECD Model Tax Convention on Income and on Capital as well as on the basis of the OECD Model Agreement on Exchange of Information in Tax Matters, to the extent that the requesting Member State subscribes to these.
These standards are primarily reflected in the 2002 OECD Model Agreement on Exchange of Information on Tax Matters and its commentary, and in Article 26 of the OECD Model Tax Convention on Income and on Capital and its commen- tary as updated in 2004.
Montenegro shall also complete the network of bilateral Agreements with Member States, along the lines of the latest update of the OECD Model Tax Convention on Income and on Capital as well as on the basis of the OECD Model Agreement on Exchange of Information in Tax Matters, to the extent that the requesting Member State subscribes to these.
It is understood that provisions of the Agreement which are drafted according to the corresponding provisions of the OECD Model Tax Convention or United Nations Model Double Taxation Convention (“UN Model Tax Convention”) shall generally be expected to have the same meaning as expressed in the OECD or UN Commentary thereon.
Article 26 of the OECD Model Tax Convention provides “rules under which information may be exchanged to the widest possible extent” and includes exchange on request, automatic exchange and other forms of information exchange.
In so settling and determining the status of that person other than an individual, consideration shall be given to the rules contained in paragraph 3 of Article 4 of the OECD Model Tax Convention, adopted in 1992 (as amended from time to time), especially to the reference concerning the place of effective management, and to the fact where the central management and control is exercised.
In addition, Recommendations building on the OECD Model Tax Convention concerning the Tax Treaty Override; the Granting and Design of Tax Sparing in Tax Conventions; Mutual Administrative Assistance in the Recovery of Tax Claims; and the Avoidance of Double Taxation with respect to Taxes on Estates and Inheritances and on Gifts will also need to be reviewed.
The OECD Model Tax Convention (OECDMTC) is even less directive than the CISG—it merely serves as a template that nations can choose to use as a starting point for bilateral negotiations.
This corresponds with the application of the arm‟s length principle specified in paragraph 1 of Article 9 (Associated Enterprises) of the OECD Model Tax Convention on Income and on Capital.
Paragraph 2 of Article 7 (Business Profits) of the OECD Model Tax Convention on Income and on Capital specifies that, when attributing the profits to a permanent establishment, the permanent establishment should be considered as „a distinct and separate enterprise engaged in the same or similar activities and under the same or similar conditions‟.