martes, 30 de noviembre de 2010

Memorandum of Understanding (MOU) released on the arbitration process under the Canada – US treaty

On November 26, 2010, the competent authorities of Canada and the United States released an important Memorandum of Understanding (MOU) regarding the conduct of mandatory binding arbitration proceedings under the mutual agreement procedure (MAP) of the Convention Between Canada and the United States of America With Respect to Taxes on Income and on Capital (the "Treaty"). The MOU not only establishes the procedures for handling arbitration cases, but also signals that the United States and Canada have resolved their differences regarding the scope of the Treaty's arbitration provision, the types of cases eligible for arbitration and the manner in which issues will be resolved in arbitration proceedings. The governments reached agreement on the MOU provisions just as the December 15, 2010, date on which MAP cases can become eligible for arbitration, was fast approaching.

Fuente: PKN

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