TMI BlogSECTION 90 OF THE INCOME-TAX ACT, 1961 – DOUBLE TAXATION AGREEMENT – AGREEMENT FOR EXCHANGE OF INFORMATION WITH RESPECT TO TAXES WITH FOREIGN COUNTRIES – GIBRALTARX X X X Extracts X X X X X X X X Extracts X X X X ..... s that all the provisions of the Agreement between the Government of the Republic of India and the Government of Gibraltar for the exchange of information with respect to taxes, as set out in the Annexure hereto, shall be given effect to in the Union of India with effect from date of entry into force i.e the 11th March, 2013. AGREEMENT BETWEEN THE GOVERNMENT OF THE REPUBLIC OF INDIA AND THE GOVERNMENT OF GIBRALTAR FOR THE EXCHANGE OF INFORMATION WITH RESPECT TO TAXES Whereas the Government of the Republic of India and the Government of Gibraltar "the Contracting Parties" wish to enhance and facilitate the terms and conditions governing the exchange of information relating to taxes; Whereas it is acknowledged that Gibraltar under the terms of its Entrustment from the UK has the right to negotiate, conclude, perform and subject to the terms of this agreement terminate a Tax Information Exchange Agreement with India; Now, Therefore, the Contracting Parties have agreed to conclude the following Agreement which contains obligations on the part of India and Gibraltar only: ARTICLE 1 OBJECT AND SCOPE OF THE AGREEMENT The competent authoritie ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is Agreement, unless otherwise defined: (a) the term "India" means the territory of India and includes the territorial sea and airspace above it, as well as any other maritime zone in which India has sovereign rights, other rights and jurisdiction, according to the Indian law and in accordance with international law, including the U.N. Convention on the Law of the Sea; (b) the term Gibraltar means the territory of Gibraltar; (c) the term "Contracting Party" means India or Gibraltar as the context requires; (d) the term "competent authority" means - (i) in the case of India, the Finance Minister, Government of India, or its authorized representative; (ii) in the case of Gibraltar, the Minister of Finance or his authorised representative; (e) the term "person" includes an individual, a company, a body of persons and any other entity which is treated as a taxable unit under the taxation laws in force in the respective Contracting Parties; (f) the term "company" means any body corporate or any entity that is treated as a body corporate for tax purposes; (g) the term "publicly traded company" means any company whose principal class of shares is listed on a recognised s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ds the application of this Agreement at any time by a Contracting Party, any term not defined therein shall, unless the context otherwise requires or the competent authorities agree to a common meaning pursuant to the provisions of Article 11 of this Agreement, have the meaning that it has at that time under the law of that Party, any meaning under the applicable tax laws of that Party prevailing over a meaning given to the term under other laws of that Party. ARTICLE 5 EXCHANGE OF INFORMATION UPON REQUEST 1. The competent authority of the requested Party shall provide upon request information for the purposes referred to in Article 1. Such information shall be exchanged without regard to whether the requested Party needs such information for its own tax purposes or whether the conduct being investigated would constitute a crime under the laws of the requested Party if such conduct occurred in the requested Party. 2. If the information in the possession of the competent authority of the requested Party is not sufficient to enable it to comply with the request for information, that Party shall use all relevant information gathering measures to provide the requesting Part ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in the requested Party or is in the possession or control of a person within the jurisdiction of the requested Party; (f) to the extent known, the name and address of any person believed to be in possession or control of the requested information; (g) a statement that the request is in conformity with the laws and administrative practices of the requesting Party, that if the requested information was within the jurisdiction of the requesting Party then the competent authority of the requesting Party would be able to obtain the information under the laws of the requesting Party or in the normal course of administrative practice and that it is in conformity with this Agreement; (h) a statement that the requesting Party has pursued all means available in its own territory to obtain the information, except those that would give rise to disproportionate difficulties. 7. The competent authority of the requested Party shall forward the requested information as promptly as possible to the requesting Party. To ensure a prompt response, the competent authority of the requested Party shall: (a) Confirm receipt of a request in writing to the competent authority of the requesting Par ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n would be contrary to public policy (ordre public) of the requested Party. 2. This Agreement shall not impose on a Contracting Party the obligation: (i) to supply information which would disclose any trade, business, industrial, commercial or professional secret or trade process, provided that information described in paragraph 4 of Article 5 shall not be treated as such a secret or trade process merely because it meets the criteria in that paragraph; or (ii) to obtain or provide information, which would reveal confidential communications between a client and an attorney, solicitor or other admitted legal representative where such communications are: (a) produced for the purposes of seeking or providing legal advice or (b) produced for the purposes of use in existing or contemplated legal proceedings. 3. A request for information shall not be refused on the ground that the tax claim giving rise to the request is disputed. 4. The requested Party shall not be required to obtain and provide information which the requesting Party would be unable to obtain in similar circumstances under its own laws for the purpose of the administration or enforcement of its own tax laws ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on behalf of the Requested Party; (b)reasonable costs of engaging interpreters, translators or other agreed experts; (c)reasonable costs of conveying documents to the Requesting Party; (d) reasonable litigation costs of the Requested Party in relation to a specific request for information; (e) reasonable costs for obtaining depositions or testimony. ARTICLE 10 IMPLEMENTATION LEGISLATION The Contracting Parties shall enact any legislation necessary to comply with, and give effect to, the terms of the Agreement. ARTICLE 11 MUTUAL AGREEMENT PROCEDURE 1. Where difficulties or doubts arise between the Contracting Parties regarding the implementation or interpretation of the Agreement, the competent authorities shall endeavour to resolve the matter by mutual agreement. In addition, the competent authorities of the Contracting Parties may mutually agree on the procedures to be used under Articles 5 and 6 of this Agreement. 2. The competent authorities of the Contracting Parties may communicate with each other directly for purposes of reaching agreement under this Article. ARTICLE 12 ENTRY INTO FORCE 1. The Contracting Parties shall notify each other ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
