TaxTMI 
TaxTMI 
TaxTMI 
Introduction - Model Tax Conventions
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.... same person or item of income. Tax treaties attempt to provide a rational solution to the problems of such double taxation. International tax treaties were developed to avoid the assertion of taxing jurisdiction by more than one country over the same person or item of income. Tax treaties attempt to provide a rational solution to the problems of such double taxation. Recent treaties have also be....
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....ced back to 1927, when the fiscal committee of the League of Nation prepared first draft of model Form applicable to all countries. In 1946 the model convention was publised in Geneva by the Fiscal committee of U.N. Social & Economic Council and later by the Organisation for European Economic Co-operation (OEEC) in 1963. In 1961, the Organisation for Economic cooperation and development (OECD) wa....
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....ration (OEEC) (now known as the Organisation for Economic Co-operation and Development (OECD)) and in regional forums, as well as in the United Nations, and have in general found concrete expression in a series of model or draft model bilateral tax conventions. The United Nations Model Convention generally favours retention of greater so called "source country" taxing rights under a tax treaty th....
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...., this Group finalised the UN Model Conventions (UN MC) in its present form. Since its first publication in 1980, the model has been updated previously in 2001, 2001 and 2017. The latest updation was in year 2021. The UN Model convention is a compromise between the source principle and the residence principle. However, it gives more weight to the source principle as against the residence principl....