PART III. TREATY ABUSE
Article 6 – Purpose of a Covered Tax Agreement…
1. A Covered Tax Agreement shall be modified to include the following preamble t…
“Intending to eliminate double taxation with respect to the taxes covered by this…
2. The text described in paragraph 1 shall be included in a Covered Tax Agreement…
3. A Party may also choose to include the following preamble text with respect to…
“Desiring to further develop their economic relationship and to enhance their co-operation…
4. A Party may reserve the right for paragraph 1 not to apply to its Covered Tax…
5. Each Party shall notify the Depositary of whether each of its Covered Tax Agreements,…
6. Each Party that chooses to apply paragraph 3 shall notify the Depositary of its…
Article 7 – Prevention of Treaty Abuse…
1. Notwithstanding any provisions of a Covered Tax Agreement, a benefit under the…
2. Paragraph 1 shall apply in place of or in the absence of provisions of a Covered…
3. A Party that has not made the reservation described in subparagraph a) of paragraph…
4. Where a benefit under a Covered Tax Agreement is denied to a person under provisions…
5. Paragraph 4 shall apply to provisions of a Covered Tax Agreement (as it may be…
6. A Party may also choose to apply the provisions contained in paragraphs 8 through…
7. In cases where some but not all of the Contracting Jurisdictions to a Covered…
a) by all Contracting Jurisdictions, if all of the Contracting Jurisdictions that…
b) only by the Contracting Jurisdictions that choose to apply the Simplified Limitation…
Simplified Limitation on Benefits Provision…
8. Except as otherwise provided in the Simplified Limitation on Benefits Provision,…
a) which determine the residence of a person other than an individual which is a…
b) which provide that a Contracting Jurisdiction will grant to an enterprise of that…
c) which allow residents of a Contracting Jurisdiction to request that the competent…
unless such resident is a “qualified person”, as defined in paragraph 9 at the time…
9. A resident of a Contracting Jurisdiction to a Covered Tax Agreement shall be a…
a) an individual;…
b) that Contracting Jurisdiction, or a political subdivision or local authority thereof,…
c) a company or other entity, if the principal class of its shares is regularly traded…
d) a person, other than an individual, that:…
i) is a non-profit organisation of a type that is agreed to by the Contracting Jurisdictions…
ii) is an entity or arrangement established in that Contracting Jurisdiction that…
A) that is established and operated exclusively or almost exclusively to administer…
B) that is established and operated exclusively or almost exclusively to invest funds…
e) a person other than an individual, if, on at least half the days of a twelve-month…
10. a) A resident of a Contracting Jurisdiction to a Covered Tax Agreement will be…
i) operating as a holding company; ii) providing overall supervision or administration…
iv) making or managing investments, unless these activities are carried on by a bank,…
b) If a resident of a Contracting Jurisdiction to a Covered Tax Agreement derives…
c) For purposes of applying this paragraph, activities conducted by connected persons…
11. A resident of a Contracting Jurisdiction to a Covered Tax Agreement that is not…
12. If a resident of a Contracting Jurisdiction to a Covered Tax Agreement is neither…
13. For the purposes of the Simplified Limitation on Benefits Provision:…
b) the term “recognised stock exchange” means:…
ii) any stock exchange established and regulated as such under the laws of either…
iii) any other stock exchange agreed upon by the competent authorities of the Contracting…
c) the term “principal class of shares” means the class or classes of shares of a…
d) the term “equivalent beneficiary” means any person who would be entitled to benefits…
e) with respect to entities that are not companies, the term “shares” means interests…
f) two persons shall be “connected persons” if one owns, directly or indirectly,…
14. The Simplified Limitation on Benefits Provision shall apply in place of or in…
15. A Party may reserve the right:…
b) for paragraph 1 not to apply to its Covered Tax Agreements on the basis that it…
c) for paragraph 1 (and paragraph 4, in the case of a Party that has chosen to apply…
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