Get Next Steps Mou Between The Competent Authorities ...

It means that in ance with the tax treaty, certain designations are made as to who is considered competent authority. For example, when it comes to the United States — the “Secretary of Treasury or his delegate” is considered to be the competent authority.

The Multilateral Competent Authority Agreement (“the MCAA”) is a multilateral framework agreement that provides a standardised and efficient mechanism to facilitate the automatic exchange of information in ance with the Standard for Automatic Exchange of Financial Information in Tax Matters (“the Standard”).

The accelerated competent authority procedure (ACAP) complements the standard MAP process by providing an efficient mechanism to extend an agreed resolution to subsequent filed years.

The Multilateral Competent Authority Agreement (“the MCAA”) is a multilateral framework agreement that provides a standardised and efficient mechanism to facilitate the automatic exchange of information in ance with the Standard for Automatic Exchange of Financial Information in Tax Matters (“the Standard”).

It means that in ance with the tax treaty, certain designations are made as to who is considered competent authority. For example, when it comes to the United States — the “Secretary of Treasury or his delegate” is considered to be the competent authority.

A Competent Authority Arrangement is a bilateral agreement between the United States and the treaty partner to clarify or interpret treaty provisions.

A competent authority is any person or organization that has the legally delegated or invested authority, capacity, or power to perform a designated function. Similarly, once an authority is delegated to perform a certain act, only the competent authority is entitled to take accounts therefrom and no one else.