The US Treasury Department on Wednesday issued new versions of the US Model Income Tax Convention and Model Technical Explanation.
The US Model Income Tax Convention is used as a starting point in bilateral treaty negotiations with other countries. The Model Technical Explanation will serve as the basis for technical explanations of bilateral tax treaties based on the US Model Income Tax Convention.
The two documents reflect changes in U.S. domestic law and tax treaty policy since the U.S. Model was last updated in September 1996.
The full text of the new US Model Income Tax Convention can be found in the Tax News Resources section.
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