18 July 2008 - On 17 July 2008, the OECD Council approved the contents of the 2008 Update to the OECD Model Tax Convention . This followed the earlier approval of the update by the Committee on Fiscal Affairs at its meeting of 24-25 June 2008.
Whilst most of the changes included in the update had previously been released for public comments, the update itself was released as a discussion draft in April 2008.
The Committee carefully examined the comments received on that discussion draft and after extensive review of these comments concluded that no major additional changes should be made to the update as a result of these comments. It did, however, agree that a number of useful clarifying changes were proposed and that these should be included in the update. It also decided to release a detailed response to the comments received.
The contents of the 2008 update result primarily from the following reports:
The update also includes a number of technical changes to the Commentary on the Model Tax Convention that deal with the following topics:
The update also includes a number of changes and additions that have been made to the observations, reservations and positions of member and non-member countries.
In addition, the positions on the Model Tax Convention of Armenia, Chile, the Democratic Republic of the Congo, Kazakhstan and India are included for the first time through this update.
It is expected that a revised version of the OECD Model Tax Convention that will incorporate the contents of the update will be released at the beginning of September, in time for the OECD Conference on the 50th Anniversary on the OECD Model Tax Convention.