Australia: Memorandum of understanding with Canada on treaty arbitration process under MLI
ATO releases guidance on how treaty arbitration will operate between Australia and Canada under the MLI.
The Australian Taxation Office (ATO) has released a memorandum of understanding (MOU) between Australia and Canada regarding implementation of the treaty arbitration process under Part VI of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (“MLI”).
The MOU provides guidance on how the arbitration process will operate between the two countries under the convention.