The OECD Committee on Fiscal Affairs has invited public comments on draft changes to the commentary on the OECD Model Tax Convention concerning the meaning of the term ‘beneficial owner’.
The term has given rise to different interpretations by courts and tax administrations, the OECD said. ‘Given the risks of double taxation and non-taxation arising from these different interpretations, the CFA has developed proposals aimed at clarifying the interpretation that should be given to that concept in the context of the Model Tax Convention.’ Comments are invited ‘before’ 15 July on proposed changes to Articles 10, 11 and 12.
The ICAEW Tax Faculty has drawn attention to a paper discussing the meaning of beneficial ownership, written by Philip Baker QC and presented to the 2007 meeting of the UN Committee of Experts on International Co-operation in Tax Matters.
Baker had been asked to consider whether the concept of beneficial ownership used in Articles 10, 11 and 12 should be extended to other Articles, in particular Articles 13 and 21. His report, available on the UN website, includes a brief history of the beneficial ownership concept.
The OECD Committee on Fiscal Affairs has invited public comments on draft changes to the commentary on the OECD Model Tax Convention concerning the meaning of the term ‘beneficial owner’.
The term has given rise to different interpretations by courts and tax administrations, the OECD said. ‘Given the risks of double taxation and non-taxation arising from these different interpretations, the CFA has developed proposals aimed at clarifying the interpretation that should be given to that concept in the context of the Model Tax Convention.’ Comments are invited ‘before’ 15 July on proposed changes to Articles 10, 11 and 12.
The ICAEW Tax Faculty has drawn attention to a paper discussing the meaning of beneficial ownership, written by Philip Baker QC and presented to the 2007 meeting of the UN Committee of Experts on International Co-operation in Tax Matters.
Baker had been asked to consider whether the concept of beneficial ownership used in Articles 10, 11 and 12 should be extended to other Articles, in particular Articles 13 and 21. His report, available on the UN website, includes a brief history of the beneficial ownership concept.
