Exchange of information upon request: cross-border tax information must be provided with specified particulars and prompt responses. Article 5 requires the requested Party's competent authority to provide, upon request, tax-relevant information regardless of domestic need or criminal equivalence and to use all available information-gathering measures to comply. Parties must authorize access to information held by financial institutions, nominees, trustees and persons acting fiduciary, and legal and beneficial ownership details of companies, funds, trusts and foundations, with a proportionality carve-out for publicly traded entities. Requests must include specified identifying, temporal and evidentiary details; the requested authority must acknowledge receipt and notify deficiencies within 60 days and explain inability, obstacles or refusal within 90 days.
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 upon request: cross-border tax information must be provided with specified particulars and prompt responses.
Article 5 requires the requested Party's competent authority to provide, upon request, tax-relevant information regardless of domestic need or criminal equivalence and to use all available information-gathering measures to comply. Parties must authorize access to information held by financial institutions, nominees, trustees and persons acting fiduciary, and legal and beneficial ownership details of companies, funds, trusts and foundations, with a proportionality carve-out for publicly traded entities. Requests must include specified identifying, temporal and evidentiary details; the requested authority must acknowledge receipt and notify deficiencies within 60 days and explain inability, obstacles or refusal within 90 days.
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 
