Exchange of information enables cross border sharing of tax relevant documents while preserving confidentiality and limited exceptions. Competent authorities must exchange foreseeably relevant information, including documents, for tax administration and enforcement under the Agreement. Received information is confidential and may be disclosed only to authorities and persons involved in assessment, collection, enforcement, appeals or oversight and used solely for those purposes unless both States' laws and the supplying State permit other use. Limits permit refusal where disclosure would contravene domestic laws, administrative practice, unobtainability, trade secrets or public policy, but do not allow refusal solely because information is held by banks, nominees, agents or relates to ownership interests.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Exchange of information enables cross border sharing of tax relevant documents while preserving confidentiality and limited exceptions.
Competent authorities must exchange foreseeably relevant information, including documents, for tax administration and enforcement under the Agreement. Received information is confidential and may be disclosed only to authorities and persons involved in assessment, collection, enforcement, appeals or oversight and used solely for those purposes unless both States' laws and the supplying State permit other use. Limits permit refusal where disclosure would contravene domestic laws, administrative practice, unobtainability, trade secrets or public policy, but do not allow refusal solely because information is held by banks, nominees, agents or relates to ownership interests.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
