Exchange of information enables mutual tax information sharing for assessment, collection and anti evasion while protecting confidentiality and trade secrets. Article 27 requires competent authorities to exchange information necessary to apply the Convention and domestic tax laws for covered taxes, including to prevent fraud and evasion, with received information treated as secret and disclosed only to persons or authorities engaged in assessment, collection, enforcement, prosecution, or appeals and used solely for those purposes; disclosure in public court proceedings or judicial decisions is permitted. The Article exempts obligations that would conflict with domestic laws or practices, require unobtainable information, or force disclosure of trade secrets or information contrary to public policy.
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 mutual tax information sharing for assessment, collection and anti evasion while protecting confidentiality and trade secrets.
Article 27 requires competent authorities to exchange information necessary to apply the Convention and domestic tax laws for covered taxes, including to prevent fraud and evasion, with received information treated as secret and disclosed only to persons or authorities engaged in assessment, collection, enforcement, prosecution, or appeals and used solely for those purposes; disclosure in public court proceedings or judicial decisions is permitted. The Article exempts obligations that would conflict with domestic laws or practices, require unobtainable information, or force disclosure of trade secrets or information contrary to public policy.
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 
