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ARTICLES OF THE MODEL CONVENTION WITH RESPECT TO …

ARTICLES OF THE MODEL CONVENTION WITH RESPECT TO TAXES ON INCOME AND ON CAPITAL [as they read on 28 January 2003] OECD 3 SUMMARY OF THE CONVENTION TITLE AND PREAMBLE CHAPTER I Scope of the CONVENTION Art. 1 Persons Covered Art. 2 Taxes covered CHAPTER II Definitions Art. 3 General definitions Art. 4 Resident Art. 5 Permanent establishment CHAPTER III taxation of income Art. 6 Income from immovable property Art. 7 Business profits Art. 8 Shipping, inland waterways transport and air transport Art.

TAXATION OF INCOME Article 6 INCOME FROM IMMOVABLE PROPERTY 1. Income derived by a resident of a Contracting State from immovable property (including income from agriculture or forestry) situated in the other Contracting State may be taxed in that other State. 2. The term "immovable property" shall have the meaning which it has under the law

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1 ARTICLES OF THE MODEL CONVENTION WITH RESPECT TO TAXES ON INCOME AND ON CAPITAL [as they read on 28 January 2003] OECD 3 SUMMARY OF THE CONVENTION TITLE AND PREAMBLE CHAPTER I Scope of the CONVENTION Art. 1 Persons Covered Art. 2 Taxes covered CHAPTER II Definitions Art. 3 General definitions Art. 4 Resident Art. 5 Permanent establishment CHAPTER III taxation of income Art. 6 Income from immovable property Art. 7 Business profits Art. 8 Shipping, inland waterways transport and air transport Art.

2 9 Associated enterprises Art. 10 Dividends Art. 11 Interest Art. 12 Royalties Art. 13 Capital gains Art. 14 [Deleted] Art. 15 Income from employment Art. 16 Directors' fees Art. 17 Artistes and sportsmen Art. 18 Pensions Art. 19 Government Service Art. 20 Students Art. 21 Other income OECD MODEL TAX CONVENTION 4 OECD CHAPTER IV taxation of capital Art. 22 Capital CHAPTER V Methods for elimination of double taxation Art. 23 A Exemption method Art.

3 23 B Credit method CHAPTER VI Special provisions Art. 24 Non-discrimination Art. 25 Mutual agreement procedure Art. 26 Exchange of information Art. 27 Assistance in the collection of taxes Art. 28 Members of diplomatic missions and consular posts Art. 29 Territorial extension CHAPTER VII Final provisions Art. 30 Entry into force Art. 31 Termination MODEL CONVENTION OECD 5 TITLE OF THE CONVENTION CONVENTION between (State A) and (State B) with RESPECT to taxes on income and on capital1 PREAMBLE TO THE CONVENTION2 1.

4 States wishing to do so may follow the widespread practice of including in the title a reference to either the avoidance of double taxation or to both the avoidance of double taxation and the prevention of fiscal evasion. 2. The Preamble of the CONVENTION shall be drafted in accordance with the constitutional procedure of both Contracting States. OECD MODEL TAX CONVENTION 6 OECD CHAPTER I SCOPE OF THE CONVENTION article 1 PERSONS COVERED This CONVENTION shall apply to persons who are residents of one or both of the Contracting States.

5 article 2 TAXES COVERED 1. This CONVENTION shall apply to taxes on income and on capital imposed on behalf of a Contracting State or of its political subdivisions or local authorities, irrespective of the manner in which they are levied. 2. There shall be regarded as taxes on income and on capital all taxes imposed on total income, on total capital, or on elements of income or of capital, including taxes on gains from the alienation of movable or immovable property, taxes on the total amounts of wages or salaries paid by enterprises, as well as taxes on capital appreciation.

6 3. The existing taxes to which the CONVENTION shall apply are in particular: a) (in State A): .. b) (in State B): .. 4. The CONVENTION shall apply also to any identical or substantially similar taxes that are imposed after the date of signature of the CONVENTION in addition to, or in place of, the existing taxes. The competent authorities of the Contracting States shall notify each other of any significant changes that have been made in their taxation laws. MODEL CONVENTION OECD 7 CHAPTER II DEFINITIONS article 3 GENERAL DEFINITIONS 1.

7 For the purposes of this CONVENTION , unless the context otherwise requires: a) the term "person" includes an individual, a company and any other body of persons; b) the term "company" means any body corporate or any entity that is treated as a body corporate for tax purposes; c) the term "enterprise" applies to the carrying on of any business; d) the terms "enterprise of a Contracting State" and "enterprise of the other Contracting State" mean respectively an enterprise carried on by a resident of a Contracting State and an enterprise carried on by a resident of the other Con-tracting State.

8 E) the term "international traffic" means any transport by a ship or aircraft operated by an enterprise that has its place of effective management in a Contracting State, except when the ship or aircraft is operated solely between places in the other Contracting State; f) the term "competent authority" means: (i) (in State A): .. (ii) (in State B): .. g) the term "national", in relation to a Contracting State, means: (i) any individual possessing the nationality or citizenship of that Contracting State; and (ii) any legal person, partnership or association deriving its status as such from the laws in force in that Contracting State; h) the term "business" includes the performance of professional services and of other activities of an independent character.

9 2. As regards the application of the CONVENTION at any time by a Contracting State, any term not defined therein shall, unless the context otherwise requires, have the meaning that it has at that time under the law of that State for the purposes of the taxes to which the CONVENTION applies, any meaning under the applicable tax laws of that State prevailing over a meaning given to the term under other laws of that State. OECD MODEL TAX CONVENTION 8 OECD article 4 RESIDENT 1. For the purposes of this CONVENTION , the term "resident of a Contracting State" means any person who, under the laws of that State, is liable to tax therein by reason of his domicile, residence, place of management or any other criterion of a similar nature, and also includes that State and any political subdivision or local authority thereof.

10 This term, however, does not include any person who is liable to tax in that State in RESPECT only of income from sources in that State or capital situated therein. 2. Where by reason of the provisions of paragraph 1 an individual is a resident of both Contracting States, then his status shall be determined as follows: a) he shall be deemed to be a resident only of the State in which he has a permanent home available to him; if he has a permanent home available to him in both States, he shall be deemed to be a resident only of the State with which his personal and economic relations are closer (centre of vital interests).


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