The Organisation for Economic Cooperation and Development (OECD) reported that the OECD Council on 21 November 2017 approved the contents of the 2017 Update to the OECD Model Tax Convention (the OECD Model). The 2017 update, which was previously approved by the Committee on Fiscal Affairs on 28 September 2017, will be incorporated in a revised version of the OECD Model that will be published in the next few months.
As noted in an OECD release, the 2017 update primarily comprises changes to the OECD Model that were developed through the OECD/G20 BEPS Project. The introduction to the contents of the 2017 update describes in detail all of these changes, including:
The 2017 update also includes certain other changes to the OECD Model that were previously released for comments and were not developed as part of the work on the treaty-related BEPS measures. These changes include:
The 2017 update additionally includes the following four changes that were included in an 11 July 2017 public release:
The 2017 update includes the changes and additions made to the observations and reservations of OECD member countries and to the positions of non-OECD economies.
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