OrbitaxTreaty between US and Canada – IRS releases competent authority agreement regarding application of Authorized OECD Approach (AOA)
|Treaty Development|Canada; United States
The US Internal Revenue Service (IRS) has released IRS Announcement 2012-31 with the official text of the recent competent authority agreement between the United States and Canada. The announcement is dated 20 August 2012.
The competent authority agreement was entered into under article XXVI(3) (Mutual Agreement Procedure) of the 1980 US-Canada Income Tax Treaty.
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