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Agreement between the Government of the Republic of India and the Government of Saint Kitts and Nevis for the exchange of information relating to taxes 21 July 2016

Income Tax - 62/2016 - Dated:- 21-7-2016 - MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION No. 62/2016 New Delhi, the 21st July, 2016 S.O. 2488(E).-Whereas, an Agreement between the Government of the Republic of India and the Government of Saint Kitts and Nevis was signed at New York on the 11th November, 2014 (hereinafter referred to as the said Agreement); And whereas, the date for the entry into force of the said Agreement is the 2nd day of February, 2016 being the date of the later .....

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he Central Government hereby notifies that all the provisions of the Agreement between the Government of the Republic of India and the Government of Saint Kitts and Nevis for the Exchange of Information relating to taxes, as set out in the said agreement, appended as Annexure hereto, shall be given effect to in the Union of India with effect from the 2nd day of February, 2016 [F. No. 503/09/2009-FTD-I] PRAGYA S. SAKSENA, Jt. Secy. AGREEMENT BETWEEN THE GOVERNMENT OF THE REPUBLIC OF INDIA AND THE .....

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mestic laws of the Contracting Parties concerning taxes covered by this Agreement. Such information shall include information that is foreseeably relevant to the determination, assessment and collection of such taxes, the recovery and enforcement of tax claims, or the investigation or prosecution of tax matters. Information shall be exchanged in accordance with the provisions of this Agreement and shall be treated as confidential in the manner provided in Article 8. The rights and safeguards sec .....

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er held by its authorities nor is in the possession or control of persons who are within its territorial jurisdiction. Article 3 Taxes Covered 1. The taxes which are the subject of this Agreement are: a) in India, taxes of every kind and description imposed by the Central Government or the Governments of political subdivisions or local authorities, irrespective of the manner in which they are levied; b) in Saint Kitts and Nevis,taxes of every kind and description imposed by the Central /Federal .....

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the obligations of that Party pursuant to this Agreement. Article 4 Definitions 1. For the purposes of this 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 Saint Kitts an .....

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f Saint Kitts and Nevis or its 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 anybody 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 stock exchange pro .....

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tional Stock Exchange, the Bombay Stock Exchange, and any other stock exchange recognised by the Securities and Exchange Board of India; (ii) in Saint Kitts and Nevis, the Eastern Caribbean Securities Exchange and any other stock exchange recognised by the Eastern Caribbean Securities Commission; and (iii) any other stock exchange which the competent authorities agree to recognise for the purposes of this Agreement; k) the term collective investment fund or scheme means any pooled investment veh .....

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equesting Party means the Contracting Party submitting a request for information to, or having received information from, the requested Party; n) the term requested Party means the Contracting Party which is requested to provide information or which has provided information; o) the term information gathering measures means laws and administrative or judicial procedures that enable a Contracting Party to obtain and provide the requested information; p) the term information means any fact, stateme .....

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s 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 informatio .....

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hall provide information under this Article, to the extent allowable under its domestic laws, in the form of depositions of witnesses and authenticated copies of original records. 4. Each Contracting Party shall ensure that its competent authority, for the purposes of this Agreement, has the authority to obtain and provide upon request: a) information held by banks, other financial institutions, and any person, including nominees and trustees, acting in an agency or fiduciary capacity; b) inform .....

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on on founders, members of the foundation council and beneficiaries; and equivalent information in case of entities that are neither trusts nor foundations. 5. This Agreement does not create an obligation on the Contracting Parties to obtain or provide ownership information with respect to publicly traded companies or public collective investment funds or schemes unless such information can be obtained without giving rise to disproportionate difficulties. 6. The competent authority of the reques .....

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he information is sought; (e) grounds for believing that the information requested is present 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 wi .....

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he 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 Party and shall notify the competent authority of the requesting Party of deficiencies in the request, if any, within 60 days of the receipt of the request. b) If the competent authority of the requested Party has been un .....

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e competent authority of the requesting Party to enter the territory of the requested Party, to the extent permitted under its domestic laws, to interview individuals and examine records with the prior written consent of the individuals or other persons concerned. The competent authority of the requesting Party shall notify the competent authority of the requested Party of the time and place of the intended meeting with the individuals concerned. 2. At the request of the competent authority of t .....

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s and conditions required by the requested Party for the conduct of the examination. All decisions with respect to the conduct of the tax examination shall be made by the Party conducting the examination. Article 7 Possibility of Declining a Request for information 1. The competent authority of the requested Party may decline to assist: (a) where the request is not made in conformity with this Agreement; or (b) where the requesting Party has not pursued all means available in its own territory t .....

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ll 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; or (iii) to carry out administrativ .....

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ose of the administration or enforcement of its own tax laws or in response to a valid request from the requested Party under this Agreement. 5. The requested Party may decline a request for information if the information is requested by the requesting Party to administer or enforce a provision of the tax law of the requesting Party, or any requirement connected therewith, which discriminates against a national of the requested party as compared with a national of the requesting Party in the sam .....

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use such information only for such purposes. They may disclose the information in public court proceedings or in judicial decisions. The information may not be disclosed to any other person or entity or authority or any other jurisdiction (including a foreign Government) without the express written consent of the competent authority of the Requested Party. Article 9 Costs 1. Unless the competent authorities of the Contracting Parties otherwise agree, ordinary costs incurred in providing assistan .....

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e to time with regard to this Article. 4. Ordinary costs include internal administration costs, any minor external costs and overhead expenses incurred by the Requested Party in reviewing and responding to information requests submitted by the Requested Party. Examples of extraordinary costs incurred in providing assistance include, but are not limited to the following: a) reasonable fees charged by third parties for copying documents on behalf of the Requested Party; b) reasonable costs of enga .....

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months of entry into force of this 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, 6 and 9 of this Agreement. 2. The competent authorities of the C .....

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