The Inland Revenue Authority of Singapore has announced the signing of a Competent Authority Arrangement with New Zealand regarding arbitration under the BEPS MLI on 29 November 2024.
- On 18 and 21 November 2024, the competent authorities of the Republic of Singapore and of New Zealand signed a competent authority arrangement (“CAA”) to establish the mode of application of the arbitration proceedings provided for in Part VI (Arbitration) of the MLI.
- The arbitration provisions allow taxpayers to request for issues arising from a Mutual Agreement Procedure case which remained unresolved after a two-year time period to be submitted to an arbitration panel for resolution.
- The full text of the CAA is published as Annex B to the Singapore-New Zealand DTA which is available on the Inland Revenue Authority of Singapore’s website.
