COMPETENT AUTHORITY AGREEMENT. 1. The competent authorities of the United States of America and the United Kingdom hereby enter into the following agreement (“Agreement”) regarding, in the case of the United States, dual consolidated losses under section 1503(d) of the Code and, in the case of the United Kingdom, trading losses disallowed under 403D(1)(c) ICTA1988 by the action of S403D(6) ICTA 88, under the Treaty. Except as provided in this paragraph 1, the Agreement applies in cases where a consolidated group of which a domestic owner is a member, or an unaffiliated domestic owner (as such terms are defined in Treas. Reg. §1.1503- 2(c)(8), (9) and (11), respectively) (“Taxpayer”), has a permanent establishment in the United Kingdom as defined in Article 5 (Permanent Establishment) of the Treaty (“UK permanent establishment”) that incurs losses which, for UK tax purposes, relate to accounting periods ending on or after April 1, 2000, and are otherwise subject to section 1503(d) of the Code and the regulations thereunder, including Treas. Reg. §1.1503-2(b) and (c)(15)(iv), and S 403D(6) ICTA88.1 This agreement shall not apply where losses are incurred by: 1 The dual consolidated loss rules do not apply to losses incurred by a U.S. permanent establishment of a foreign corporation. Accordingly, this Agreement does not apply to dual consolidated losses incurred by a permanent establishment of a UK corporation in the United States.
COMPETENT AUTHORITY AGREEMENT. The Competent Authorities of the United States and the Swiss Confedera- tion enter into the following Agreement (“Agreement”) concerning the ownership requirements under paragraph 3 of Article 22 (Limitation on Benefits) and paragraph
COMPETENT AUTHORITY AGREEMENT. The competent authorities of the United States and Switzerland hereby enter into the following agreement (“the Agreement”) regarding the qualification of certain U.S. and Swiss pension or other retirement arrangements for benefits under paragraph 3 of Article 10 (Dividends) of the Convention Between the United States of America and the Swiss Confederation for the Avoidance of Double Taxation with Respect to Taxes on Income signed at Washington on October 2, 1996 (“the Treaty”). The Agreement specifies the procedures for claiming Treaty benefits in each country and the methods each country will use to grant Treaty benefits. The Agreement is entered into under paragraph 3 of Article 25 (Mutual Agreement Procedure).
COMPETENT AUTHORITY AGREEMENT. The Competent Authorities of Austria and the United States enter into the following agreement (“Agreement”) concerning the interpretation of Articles 20, 21 and 23 of the Convention Between the Republic of Austria and the United States of America for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Income Taxes, signed May 31, 1996. The Agreement is entered into under Article 24 (Mutual Agreement Procedure). For the purposes of this Agreement, “
COMPETENT AUTHORITY AGREEMENT. The competent authorities of the United States and the United Kingdom hereby enter into the following agreement (“the Agreement”) regarding the qualification of certain U.K. pension or other retirement arrangements for benefits under paragraph 3(b) of Article 10 (Dividends) of the Convention Between the United States of America and the United Kingdom of Great Britain and Northern Ireland for the Avoidance of Double Taxation with Respect to Taxes on Income signed at London on July 24, 2001 (“the Treaty”). The Agreement is entered into under paragraph 3 of Article 26 (Mutual Agreement Procedure). It is understood that for the purposes of this Agreement the term “Article” refers to an Article of the Treaty. Qualification for benefits under Article 10(3) Paragraph 3(b) of Article 10 of the Treaty provides that dividends shall not be taxed in the Contracting State of which the company paying the dividends is a resident if the beneficial owner of the dividends is a pension scheme resident in the other Contracting State, provided that such dividends are not derived from the carrying on of business by the pension scheme. Pursuant to subparagraphs a) and b) of paragraph 3 of Article 4 (Residence), the term “resident of a Contracting State” includes a pension scheme or a plan, scheme, fund, trust, company or other arrangement established in a Contracting State that is operated exclusively to administer or provide employee benefits and that, by reason of its nature as such, is generally exempt from income taxation in that State.
COMPETENT AUTHORITY AGREEMENT. The Competent Authorities agree that in order to reach the result intended by the Contracting States, a CCF will not be treated as a resident of Ireland pursuant to paragraph 1(d) of Article 4. Accordingly, under the first sentence of Article 1 of the Protocol, a unit holder in a CCF will be entitled to benefits under the Treaty, provided the unit holder is a resident of Ireland that satisfies the requirements of Article 23 (Limitation on Benefits). In addition, a CCF will not be entitled to benefits in its own right because it will not be a resident of Ireland. Xxxxx X. Xx Acting United States Competent Authority Date: 23 January 2006 X. X. Xxxxxx
