The OECD Council, on July 15, approved a 2014 update to the OECD Model Tax Convention. The update modifies Article 26 on exchange of information to allow for group requests. Changes are also made to the meaning of “beneficial owner” for purposes of the OECD Model Convention; to tax treaty issues related to emissions permits and credits; to the tax treaty treatment of termination of employment payments; and to Article 17 (Artistes and Sportsmen). No updates relate to the OECD’s BEPS project.
An updated Model Tax Convention will be published in next few months. See, 2014 Update to the Model Tax Convention, Release.
