The Tax Information Exchange Agreement (TIEA) serves as a crucial instrument in Canada's international tax cooperation framework. This document type is utilized when establishing formal arrangements for the exchange of tax information between Canada and other jurisdictions, particularly with countries with which Canada does not have a comprehensive double tax treaty. The agreement becomes necessary when there is a need to combat tax evasion, promote tax transparency, and ensure effective exchange of tax-related information while maintaining appropriate safeguards and confidentiality measures. It is governed by Canadian federal law, particularly the Tax Information Exchange Agreements Act and the Income Tax Act, and must comply with international standards for tax transparency and information exchange. The agreement typically includes detailed provisions for both automatic and on-request information exchange, specifying the scope, procedures, and limitations of such exchanges.
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1. Parties: Identification of the contracting tax authorities or governmental bodies entering into the agreement
2. Background: Context of the agreement, including reference to relevant international frameworks and the desire for tax cooperation
3. Definitions: Detailed definitions of key terms used throughout the agreement, including 'information', 'tax matter', 'competent authority', etc.
4. Scope of Agreement: Details of the types of taxes and information covered by the agreement
5. Exchange of Information: Core provisions regarding the obligation to exchange information and the circumstances under which it occurs
6. Confidentiality: Provisions ensuring the confidentiality of exchanged information and limitations on its use
7. Rights and Safeguards: Protection of rights of taxpayers and other persons involved in information exchange
8. Costs: Allocation of costs associated with providing and receiving information
9. Implementation: Procedures for implementing the agreement and designation of competent authorities
10. Term and Termination: Duration of the agreement and procedures for termination
1. Language of Requests: Specifications for the language(s) in which information requests must be made, included when parties have different official languages
2. Limitation of Benefits: Provisions preventing abuse of the agreement, included when there are specific concerns about potential misuse
3. Mutual Agreement Procedure: Procedures for resolving difficulties in implementation, included for more complex agreements
4. Force Majeure: Provisions for circumstances preventing compliance, included when specifically requested by parties
5. Electronic Information Exchange: Specific provisions for digital information sharing, included when parties agree to electronic exchange methods
1. Schedule A - Taxes Covered: Detailed list of specific taxes covered by the agreement in each jurisdiction
2. Schedule B - Competent Authorities: Details of designated competent authorities and their contact information
3. Schedule C - Information Request Form: Standard form template for making information requests
4. Schedule D - Security Protocols: Specific procedures and requirements for securing exchanged information
5. Appendix 1 - Technical Specifications: Technical requirements for electronic information exchange, if applicable
6. Appendix 2 - Timeline Requirements: Specific timeframes for responding to different types of information requests
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