Contact us   Feedback   Annual Subscription   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

Agreement between the Government of the Republic of India and the Government of Republic of Cyprus for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes

Income Tax - 3/2017 - Dated:- 10-1-2017 - MINISTRY OF FINANCE (Department of Revenue) Notification No. 3/2017 New Delhi, the 10th January, 2017 S.O.64(E).-Whereas, an Agreement and Protocol between the Government of the Republic of India and the Government of the Republic of Cyprus for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income (hereinafter referred to as the said Agreement and Protocol ) as set out in the Annexure to this notification, .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

f the said Agreement and Protocol shall have effect forthwith from the date of entry into force; Now, therefore, in exercise of the powers conferred by section 90 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies that all the provisions of the said Agreement and Protocol between the Government of Republic of India and the Government of Republic of Cyprus for the avoidance of double taxation and the Prevention of Fiscal evasion with respect to taxes on income as set .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

COME The Government of the Republic of India and the Government of the Republic of Cyprus, desiring to conclude an Agreement for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and with a view to promoting economic cooperation between the two countries, have agreed as follows: Article 1 PERSONS COVERED This Agreement shall apply to persons who are residents of one or both of the Contracting States. Article 2 TAXES COVERED 1. This Agreement sh .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

articular: a) in India, the income tax, including any surcharge thereon; (hereinafter referred to as Indian tax ); b) in Cyprus: (i) the income tax; (ii) the corporate income tax; (iii) the special contribution for the defence of the Republic; and (iv) the capital gains tax (hereinafter referred to as Cyprus 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 exi .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

e Indian law and in accordance with international law, including the U.N. Convention on the Law of the Sea; b) the term Cyprus means the Republic of Cyprus and, when used in a geographical sense, includes the national territory, the territorial sea thereof as well as any area outside the territorial sea, including the contiguous zone, the exclusive economic zone and the continental shelf, which has been or may hereafter be designated, under the laws of Cyprus and in accordance with international .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

as a body corporate for tax purposes; f) the term enterprise applies to the carrying on of any business; g) 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 Contracting State; h) the term international traffic means any transport by a ship or aircraft operated by an enterprise of a Contracting State, except when the ship .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

a Contracting State; k) the term tax means Indian or Cyprus tax, as the context requires, but shall not include any amount which is payable in respect of any default or omission in relation to the taxes to which this Agreement applies or which represents a penalty or fine imposed relating to those taxes; l) The term fiscal year means: (i) In the case of India: the financial year beginning on the 1st day of April; (ii) In the case of Cyprus: the year of assessment beginning on the 1st day of Janu .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

dent 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. 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. 2. Where by reason of the provisions of paragraph 1 an individual is a .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

rmanent home available to him in either State, he shall be deemed to be a resident only of the State in which he has an habitual abode; c) if he has an habitual abode in both States or in neither of them, he shall be deemed to be a resident only of the State of which he is a national; d) if he is a national of both States or of neither of them, the competent authorities of the Contracting States shall endeavour to settle the question by mutual agreement. 3. Where by reason of the provisions of p .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

Article 5 PERMANENT ESTABLISHMENT 1. For the purposes of this Agreement, the term permanent establishment means a fixed place of business through which the business of an enterprise is wholly or partly carried on. 2. The term permanent establishment includes especially: a) a place of management; b) a branch; c) an office; d) a factory; e) a workshop; f) a sales outlet; g) a warehouse in relation to a person providing storage facilities for others; h) a farm, plantation or other place where agric .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

her personnel engaged by the enterprise for such purpose, but only where activities of that nature continue (for the same or connected project) within the country for a period or periods aggregating more than 90 days within any 12-month period. 4. Notwithstanding the preceding provisions of this Article the term permanent establishment shall be deemed not to include: a) the use of facilities solely for the purpose of storage, display of goods or merchandise belonging to the enterprise; b) the ma .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

, for the enterprise, any other activity of a preparatory or auxiliary character; f) the maintenance of a fixed place of business solely for any combination of activities mentioned in subparagraphs (a) to (e) , provided that the overall activity of the fixed place of business resulting from this combination is of a preparatory or auxiliary character. 5. Notwithstanding the provisions of paragraphs 1 and 2, where a person- other than an agent of an independent status to whom paragraph 7 applies- .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

exercised through a fixed place of business, would not make this fixed place of business a permanent establishment under the provisions of that paragraph, or b) has no such authority, but habitually maintains in the first-mentioned State a stock of goods or merchandise from which he regularly delivers goods or merchandise on behalf of the enterprise; c) habitually secures orders in the first-mentioned State, wholly or almost wholly for the enterprise itself. 6. Notwithstanding the preceding prov .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ness in that State through a broker, general commission agent or any other agent of an independent status, provided that such persons are acting in the ordinary course of their business. However, when the activities of such an agent are devoted wholly or almost wholly on behalf of that enterprise, he will not be considered an agent of an independent status within the meaning of this paragraph. 8. The fact that a company which is a resident of a Contracting State controls or is controlled by a co .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ich it has under the law of the Contracting State in which the property in question is situated. The term shall in any case include property accessory to immovable property, livestock and equipment used in agriculture and forestry, rights to which the provisions of general law respecting landed property apply, usufruct of immovable property and rights to variable or fixed payments as consideration for the working of, or the right to work, mineral deposits, sources and other natural resources; sh .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

shall be taxable only in that State unless the enterprise carries on business in the other Contracting State through a permanent establishment situated therein. If the enterprise carries on business as aforesaid, the profits of the enterprise may be taxed in the other State but only so much of them as is attributable to that permanent establishment. 2. Subject to the provisions of paragraph 3, where an enterprise of a Contracting State carries on business in the other Contracting State through .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

which are incurred for the purposes of the permanent establishment, including executive and general administrative expenses so incurred, whether in the State in which the permanent establishment is situated or elsewhere, in accordance with the provisions of and subject to the limitations of the tax laws of that State. However, no such deduction shall be allowed in respect of amounts, if any, paid (otherwise than towards reimbursement of actual expenses) by the permanent establishment to the hea .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

rwise than toward reimbursement of actual expenses), by the permanent establishment to the head office of the enterprise or any of its other offices, by way of royalties, fees or other similar payments in return for the use of patents, know-how or other rights, or by way of commission or other charges for specific services performed or for management, or, except in the case of a banking enterprise, by way of interest on moneys lent to the head office of the enterprise or any of its other offices .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

this Article. 5. No profits shall be attributed to a permanent establishment by reason of the mere purchase by that permanent establishment of goods or merchandise for the enterprise. 6. For the purposes of the preceding paragraphs, the profits to be attributed to the permanent establishment shall be determined by the same method year by year unless there is good and sufficient reason to the contrary. 7. Where profits include items of income which are dealt with separately in other Articles of .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

or voyage) or bareboat basis. 3. Profits of an enterprise of a Contracting State from the use, maintenance or rental of containers (including trailers, barges and related equipment for the transport of containers) used for the transport of goods or merchandise shall be taxable only in that State, except where such containers are used for the transport of goods or merchandise solely between places within the other Contracting State. 4. For the purposes of this Article, interest on funds connecte .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ectly in the management, control or capital of an enterprise of the other Contracting State, or b) the same persons participate directly or indirectly in the management,control or capital of an enterprise of a Contracting State and an enterprise of the other Contracting State, and in either case conditions are made or imposed between the two enterprises in their commercial or financial relations which differ from those which would be made between independent enterprises, then any profits which w .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

of the first-mentioned State if the conditions made between the two enterprises had been those which would have been made between independent enterprises, then that other State shall make an appropriate adjustment to the amount of the tax charged therein on those profits. In determining such adjustment, due regard shall be had to the other provisions of this Agreement and the competent authorities of the Contracting States shall if necessary consult each other. Article 10 DIVIDENDS 1. Dividends .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

hall not affect the taxation of the company in respect of the profits out of which the dividends are paid. 3. The term "dividends" as used in this Article means income from shares or other rights, not being debtclaims, participating in profits, as well as income from other corporate rights which is subjected to the same taxation treatment as income from shares by the laws of the State of which the company making the distribution is a resident. 4. The provisions of paragraphs 1 and 2 sh .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

the provisions of Article 7 or Article 14, as the case may be, shall apply. 5. Where a company which is a resident of a Contracting State derives profits or income from the other Contracting State, that other State may not impose any tax on the dividends paid by the company, except insofar as such dividends are paid to a resident of that other State or insofar as the holding in respect of which the dividends are paid is effectively connected with a permanent establishment or a fixed base situat .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

and according to the laws of that State, but if the beneficial owner of the interest is a resident of the other Contracting State, the tax so charged shall not exceed 10 percent of the gross amount of the interest. 3. Notwithstanding the provisions of paragraph 2, interest arising in a Contracting State shall be exempt from tax in that State, provided that it is derived and beneficially owned by: (a) the Government, a political sub-division or a local authority of the other Contracting State; or .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ncome from government securities and income from bonds or debentures, including premiums and prizes attaching to such securities, bonds or debentures. Penalty charges for late payment shall not be regarded as interest for the purpose of this Article. 5. The provisions of paragraphs 1 and 2 shall not apply if the beneficial owner of the interest, being a resident of a Contracting State, carries on business in the other Contracting State in which the interest arises, through a permanent establishm .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

er he is a resident of a Contracting State or not, has in a Contracting State a permanent establishment or a fixed base in connection with which the indebtedness on which the interest is paid was incurred, and such interest is borne by such permanent establishment or fixed base, then such interest shall be deemed to arise in the State in which the permanent establishment or fixed base is situated. 7. Where, by reason of a special relationship between the payer and the beneficial owner or between .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ent. Article 12 ROYALTIES AND FEES FOR TECHNICAL SERVICES 1. Royalties or fees for technical services arising in a Contracting State and paid to a resident of the other Contracting State may be taxed in that other State. 2. However, such royalties or fees for technical services may also be taxed in the Contracting State in which they arise, and according to the laws of that State, but if the beneficial owner of the royalties or fees for technical services is a resident of the other Contracting S .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

r the use of, or the right to use, industrial, commercial or scientific equipment, or for information concerning industrial, commercial or scientific experience. However, the term royalties will not include income for the use of, or the right to use aircraft and ships that falls under Article 8. (b) The term "fees for technical services" as used in this Article means payments of any kind, other than those mentioned in Articles 14 and 15 of this Agreement as consideration for managerial .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

s from a fixed base situated therein, and the right or property in respect of which the royalties or fees for technical services are paid is effectively connected with such permanent establishment or fixed base. In such case the provisions of Article 7 or Article 14, as the case may be, shall apply. 5. (a) Royalties and fees for technical services shall be deemed to arise in a Contracting State when the payer is that State itself, a political sub-division, a local authority, or a resident of tha .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

e in the Contracting State in which the permanent establishment or fixed base is situated. (b) Where under sub-paragraph (a) royalties or fees for technical services do not arise in one of the Contracting States, and the royalties relate to the use of, or the right to use, the right or property, or the fees for technical services relate to services performed, in one of the Contracting States, the royalties or fees for technical services shall be deemed to arise in that Contracting State. 6. Wher .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

the payments shall remain taxable according to the laws of each Contracting State, due regard being had to the other provisions of this Agreement. Article 13 CAPITAL GAINS 1. Gains derived by a resident of a Contracting State from the alienation of immovable property referred to in Article 6 and situated in the other Contracting State may be taxed in that other State. 2. Gains from the alienation of movable property forming part of the business property of a permanent establishment which an ente .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

raffic or movable property pertaining to the operation of such ships or aircraft shall be taxable only in the Contracting State of which the alienator is a resident. 4. Gains from the alienation of shares of the capital stock of a company the property of which consists directly or indirectly principally of immovable property situated in a Contracting State may be taxed in that State. 5. Gains from the alienation of shares other than those mentioned in paragraph 4 in a company which is a resident .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

pt in the following circumstances when such income may also be taxed in the other Contracting State: (a) if he has a fixed base regularly available to him in the other Contracting State for the purpose of performing his activities; in that case, only so much of the income as is attributable to that fixed base may be taxed in that other State; or (b) if his stay in the other Contracting State is for a period or periods amounting to or exceeding in the aggregate 183 days in any 12 month period com .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ct to the provisions of Articles 16, 18, 19, 20 and 21, salaries, wages and other similar remuneration derived by a resident of a Contracting State in respect of an employment shall be taxable only in that State unless the employment is exercised in the other Contracting State. If the employment is so exercised, such remuneration as is derived therefrom may be taxed in that other State. 2. Notwithstanding the provisions of paragraph 1, remuneration derived by a resident of a Contracting State in .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

se which the employer has in the other State. 3. Notwithstanding the preceding provisions of this Article, remuneration derived in respect of an employment exercised aboard a ship or aircraft operated in international traffic, by an enterprise of a Contracting State shall be taxed in that State. Article 16 DIRECTORS' FEES Directors' fees and other similar payments derived by a resident of a Contracting State in his capacity as a member of the Board of Directors in a company which is a re .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ercised by an entertainer or a sportsperson in his capacity as such accrues not to the entertainer or sportsperson himself but to another person, that income may, notwithstanding the provisions of Articles 7, 14 and 15, be taxed in the Contracting State in which the activities of the entertainer or sportsperson are exercised. 3. The provisions of paragraphs 1 and 2, shall not apply to income from activities performed in a Contracting State by entertainers or sportspersons if the activities are s .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

Article 19 GOVERNMENT SERVICE 1. (a) Salaries, wages and other similar remuneration, other than a pension, paid by a Contracting State or a political subdivision or a local authority thereof to an individual in respect of services rendered to that State or subdivision or authority shall be taxable only in that State. (b) However, such salaries, wages and other similar remuneration shall be taxable only in the other Contracting State if the services are rendered in that State and the individual i .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

e if the individual is a resident of, and a national of, that State. 3. The provisions of Articles 15, 16, 17 and 18 shall apply to salaries, wages, and other similar remuneration and to pensions in respect of services rendered in connection with a business carried on by a Contracting State or a political subdivision or a local authority thereof. Article 20 PROFESSORS, TEACHERS AND RESEARCH SCHOLARS 1. A professor, teacher or research scholar who is or was a resident of the Contracting state imm .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

he public interest and not primarily for the benefit of some private person or persons. 3. For the purposes of this Article, an individual shall be deemed to be a resident of a Contracting State if he is resident in that State in the fiscal year in which he visits the other Contracting State or in the immediately preceding fiscal year. Article 21 STUDENTS 1. A student who is or was a resident of one of the Contracting States immediately before visiting the other Contracting State and who is pres .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

shall extend only for such period of time as may be reasonable or customarily required to complete the education or training undertaken, but in no event shall any individual have the benefits of this Article, for more than four consecutive years from the date of his first arrival in that other State. Article 22 OTHER INCOME 1. Items of income of a resident of a Contracting State, wherever arising, not dealt with in the foregoing Articles of this Agreement shall be taxable only in that State. 2. .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ted with such permanent establishment or fixed base. In such case the provisions of Article 7 or Article 14, as the case may be, shall apply. 3. Notwithstanding the provisions of paragraph 1, if a resident of a Contracting State derives income from sources within the other Contracting State in form of lotteries, crossword puzzles, races including horse races, card games and other games of any sort or gambling or betting of any nature whatsoever, such income may be taxed in the other Contracting .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

s computed before the deduction is given, which is attributable to the income which may be taxed in that other State. 2. Where in accordance with any provision of the Agreement income derived by a resident of a Contracting State is exempt from tax in that State, such State may nevertheless, in calculating the amount of tax on the remaining income of such resident, take into account the exempted income. Article 24 NON-DISCRIMINATION 1. Nationals of a Contracting State shall not be subjected in th .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

enterprise of a Contracting State has in the other Contracting State shall not be less favorably levied in that other State than the taxation levied on enterprises of that other State carrying on the same activities. This provision shall not be construed as obliging a Contracting State to grant to residents of the other Contracting State any personal allowances, reliefs and reductions for taxation purposes on account of civil status or family responsibilities which it grants to its own residents .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

g State to a resident of the other Contracting State shall, for the purpose of determining the taxable capital of such enterprise, be deductible under the same conditions as if they had been contracted to a resident of the first-mentioned State. 4. Enterprises of a Contracting State, the capital of which is wholly or partly owned or controlled, directly or indirectly, by one or more residents of the other Contracting State, shall not be subjected in the first mentioned State to any taxation or a .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

not in accordance with the provisions of this Agreement, he may, irrespective of the remedies provided by the domestic law of those States, present his case to the competent authority of the Contracting State of which he is a resident or, if his case comes under paragraph 1 of Article 24, to that of the Contracting State of which he is a national. The case must be presented within three years from the first notification of the action resulting in taxation not in accordance with the provisions o .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

nt authorities of the Contracting States shall endeavour to resolve by mutual agreement any difficulties or doubts arising as to the interpretation or application of the Agreement. They may also consult together for the elimination of double taxation in cases not provided for in the Agreement. 4. The competent authorities of the Contracting States may communicate with each other directly for the purpose of reaching an agreement in the sense of the preceding paragraphs. When it seems advisable in .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

f the domestic laws concerning taxes of every kind and description imposed on behalf of the Contracting States, or of their political subdivisions or local authorities, insofar as the taxation there under is not contrary to the Convention. The exchange of information is not restricted by Article 1 and 2. 2. Any information received under paragraph 1 by a Contracting State shall be treated as secret in the same manner as information obtained under the domestic laws of that State and shall be disc .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ceived by a Contracting State may be used for other purposes when such information may be used for such other purposes under the laws of both States and the competent authority of the supplying State authorises such use. 3. In no case shall the provisions of paragraph 1 and 2 be construed so as to impose on a Contracting State the obligation: a) to carry out administrative measures at variance with the laws and administrative practice of that or of the other Contracting State; b) to supply infor .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

, the other Contracting State shall use its information gathering measures to obtain the requested information, even though that other State may not need such information for its own tax purposes. The obligation contained in the preceding sentence is subject to the limitations of paragraph 3 but in no case shall such limitations be construed to permit a Contracting State to decline to supply information solely because it has no domestic interest in such information. 5. In no case shall the provi .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

The competent authorities of the Contracting States may by mutual agreement settle the mode of application of this Article. 2. The term "revenue claim" as used in this Article means an amount owed in respect of taxes of every kind and description imposed on behalf of the Contracting States, or of their political subdivisions or local authorities, insofar as the taxation there under is not contrary to this Convention or any other instrument to which the Contracting States are parties, .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

laim shall be collected by that other State in accordance with the provisions of its laws applicable to the enforcement and collection of its own taxes as if the revenue claim were a revenue claim of that other State. 4. When a revenue claim of a Contracting State is a claim in respect of which that State may, under its law, take measures of conservancy with a view to ensure its collection, that revenue claim shall, at the request of the competent authority of that State, be accepted for purpose .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

rovisions of paragraphs 3 and 4, a revenue claim accepted by a Contracting State for purposes of paragraph 3 or 4 shall not, in that State, be subject to the time limits or accorded any priority applicable to a revenue claim under the laws of that State by reason of its nature as such. In addition, a revenue claim accepted by a Contracting State for the purposes of paragraph 3 or 4 shall not, in that State, have any priority applicable to that revenue claim under the laws of the other Contractin .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

State has collected and remitted the relevant revenue claim to the first-mentioned State, the relevant revenue claim ceases to be a) in the case of a request under paragraph 3, a revenue claim of the first-mentioned State that is enforceable under the laws of that State and is owed by a person who, at that time, cannot, under the laws of that State, prevent its collection, or b) in the case of a request under paragraph 4, a revenue claim of the first-mentioned State in respect of which that Sta .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ce with the laws and administrative practice of that or of the other Contracting State; b) to carry out measures which would be contrary to public policy (ordre public); c) to provide assistance if the other Contracting State has not pursued all reasonable measures of collection or conservancy, as the case may be, available under its laws or administrative practice; d) to provide assistance in those cases where the administrative burden for that State is clearly disproportionate to the benefit t .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

r the entry into force of this Agreement. 2. This Agreement shall enter into force on the date of the later of the notifications referred to in paragraph 1 of this Article. 3. The provisions of this Agreement shall have effect: (a) In India, (i) with respect to taxes withheld at source, for amounts paid or credited on or after 1st April of the fiscal year next following that in which the Agreement enters into force; and (ii) with respect to taxes on income for any fiscal year beginning on or aft .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

between the Republic of India and the Republic of Cyprus for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and on capital signed on 13 June, 1994, shall be terminated on the date that this Agreement comes into effect. Article 30 TERMINATION This Agreement shall remain in force indefinitely until terminated by a Contracting State. Either Contracting State may terminate the Agreement, through diplomatic channels, by giving notice of terminat .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ndar year next following that in which the notice is given; and (b) In Cyprus (i) in respect of tax withheld at the source, for amounts paid on or after the first day of January in the calendar year next following that in which the notice is given; and (ii) in respect of other taxes for years of assessment beginning on or after the first day of January in the calendar year next following that in which the notice is given. IN WITNESS WHEREOF the undersigned, duly authorized thereto, have signed t .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

of the Republic of India and the Republic of Cyprus for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to taxes on income, both sides have agreed upon the following provisions which shall be an integral part of the Agreement: I. Ad. Article 10 It is clarified that at present, dividends distributed by an Indian Company is exempt from tax by virtue of section 10 (34) of the Income-tax Act, 1961. Accordingly, even though the treaty provides for withholding tax r .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version