TMI BlogProtocolX X X X Extracts X X X X X X X X Extracts X X X X ..... such activities will be taxed according to the laws of the United Arab Emirates ; (ii) Notwithstanding the provisions of Article 6 and Article 23, the residential property owned by a national of a Contracting State and occupied for self-residence in the other Contracting State shall be exempt in the other Contracting State from the taxes covered by this Agreement. In witness whereof, the undersigned, being duly authorised thereto, have signed this Protocol. Done in two originals at New Delhi on this Wednesday, 29th day of April, One Thousand Nine Hundred and Ninety-two corresponding to the 27th day of Shawwal 1412 H in the Hindi, Arabic and English languages, all texts being equally authentic. In case of divergence amongst the texts, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to India and he had residential house property in India as well as in Dubai, though applicant could be regarded as resident of both India and UAE, in terms of article 4(2)(a), he was to be regarded as resident of Dubai, inasmuch as his centre of vital interests or his personal and economic ties were closer to Dubai than to IndiaMohsinally Alimohammed Rafik v. CIT [1995] 79 Taxman 75 (AAR - New Delhi). n DTA between India and UAE came into force on 29-9-1993 and it followed that all income arising to the applicant on or after 1-4-1994 would be governed by the agreement, and therefore, the dates of acquisition of the assets which yielded the income, was irrelvant for purposes of applying agreementMohsinally Alimohammed Rafik v. CIT [1995] ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he shares of the company paying the dividends. (b) 15% of the gross amount of the dividends in all other cases. (ii) Interest : (a) 5% of the gross amount of the interest if such interest is paid on a loan granted by a bank carrying on a bona fide banking business or by a similar financial institution. (b) 12% of the gross amount of the interest in all other cases. (iii) Royalties : 10% of the gross amount. 4. It is essential that the above rates which are enshrined in the DTAA between India and the UAE are strictly adhered to so as to avoid unnecessary harassment of the taxpayers. Circular : No. 734, dated 24-1-1996. Annexure 1. It has been represented to the Board that when making remittances of the nature of royal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and the prevention of fiscal evasion with respect to taxes on income and on capital (hereinafter referred to as "Protocol") signed on the 16 th day of April, 2012 shall enter into force on the 12 th day of March, 2013, being the date of the later of the notifications after completion of the procedures as required by the laws of the respective countries for the entry into force of the Protocol, in accordance with Article 2 of the said Protocol. Now, therefore, in exercise of the powers conferred by section 90 of the Income-tax Act, 1961 (43 of 1961) , the Central Government hereby directs that all the provisions of the Protocol annexed hereto shall be given effect to in the Union of India with effect from the 12 th day of March, 2013 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing State shall be treated as secret in the same manner as information obtained under the domestic laws of that State and shall be disclosed only to persons or authorities (including courts and administrative bodies) concerned with the assessment or collection of, the enforcement or prosecution in respect of, the determination of appeals in relation to the taxes referred to in paragraph 1, or the oversight of the above. Such persons or authorities shall use the information only for such purposes. They may disclose the information in public court proceedings or in judicial decisions. 3. In no case shall the provisions of paragraphs 1 and 2 be construed so as to impose on a Contracting State the obligation: (a) to carry out administrative ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e completion of their domestic requirements for the entry into force of this Protocol. The Protocol, which shall form an integral part of the Agreement, shall enter into force on the date of the last notification, and thereupon shall have effect from the date of entry into force of this Protocol. IN WITNESS WHEREOF the undersigned, duly authorised, have signed this Protocol. DONE in duplicate at Abu Dhabi, United Arab Emirates this 16th day of April, 2012, in the Hindi, Arabic and English languages, all texts equally authentic, the English text to be the operative one in case of any doubt.] -------------------------------------- Notes:- 1. Inserted vide NOTIFICATION NO. 29/2013 [F.NO. 503/5/2004-FTD-II], DATED 12-4-2013 . ..... X X X X Extracts X X X X X X X X Extracts X X X X
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