Article 2 - Taxes covered - Uruguay

ARTICLE 2 TAXES COVERED 1. This Agreement shall apply to taxes on income and on capital imposed on behalf of a Contracting State or of its political sub-divisions 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 and taxes on the total amounts of wages or salaries paid by enterprises, as well as taxes on capital appreciation. 3. The existing taxes to which the Agreement shall apply are in particular: (a) in the case of India: (i) the income-tax, including any surcharge thereon; (ii) the wealth-tax; (hereinafter referred to as Indian tax ); (b) in the case of Uruguay: (i) the tax on business income (Impuesto a las Rentas de las Actividades Economicas -IRAE); (ii) the personal income-tax (Impuesto a las Rentas de las Personas Fisicas -IRPF); (iii) the non-residents income-tax (Impuesto a las Rentas de las No. Residentes -IRNR) ; (iv) the tax for social security assistance (Impuesto de Asistencia a la Seguridad Social -IASS); and (v) the capital tax (Impuesto al Patrimonio -IP); (hereinafter referred to as Uruguayan tax ). 4. The Agreement shall apply also to any identical or substantially similar taxes that are imposed after the date of signature of the Agreement 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 respective taxation laws.