Double Taxation Relief (Taxes on Income) (Barbados)

L.N. 447 of 2013

INCOME TAX ACT

(CAP. 123)

Double Taxation Relief (Taxes on Income) (Barbados)

(Amendment) Order, 2013

IN exercise of the powers conferred by article 76 of the Income

Tax Act, the Minister for Finance has made the following order:-

The title of this order is the Double Taxation Relief (Taxes Citation.

on Income) (Barbados) (Amendment) Order, 2013 and this Order

shall be read and construed as one with the Double Taxation Relief S.L. 123.65

(Taxes on Income) (Barbados) Order, hereinafter referred to as "the

principal order".

Article 2

PROTOCOL

BETWEEN

MALTA

AND

BARBADOS

AMENDING THE CONVENTION BETWEEN MALTA AND BARBADOS

FOR THE AVOIDANCE OF DOUBLE TAXATION AND THE PREVENTION

OF FISCAL EVASION WITH RESPECT TO TAXES ON INCOME

SIGNED AT LONDON ON THE 5TH DAY OF DECEMBER 2001

The Government of Malta and the Government of Barbados,

Desiring to conclude a Protocol to amend the Convention between Malta and

Barbados for the Avoidance of Double Taxation and the Prevention of Fiscal

Evasion with respect to Taxes on Income, signed at London on the 5th day of

December 2001 (hereinafter referred to as "the Convention");

Have agreed as follows

Article 1

Article 25 of the Convention shall be deleted and replaced by the following

"Article 25

EXCHANGE OF INFORMATION

1. The competent authorities of the Contracting States shall

exchange such information as is foreseeably relevant for carrying out the

provisions of this Convention or to the administration or enforcement of 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 thereunder is not contrary to the

Convention. The exchange of information is not restricted by Articles 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 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.

It is hereby declared

Amendments to

have effect.

(a)

that the amendments to the principal order, as

specified in the Protocol set out in the Schedule to this order

(hereinafter referred to as "the Protocol"), have been made with

the Government of Barbados;

(b)

that it is expedient that those amendments should

have effect following the entry into force of the Protocol and in

accordance with the relevant provisions of the Protocol;

(c)

that the Protocol shall enter into force on such date

as may be announced by notice in the Gazette.

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 measures at variance with the

laws and administrative practice of that or of the other Contracting

State;

(b) to supply information which is not obtainable under the

laws or in the normal course of the administration of that or of the other

Contracting State;

(c) to supply information which would disclose any trade,

business, industrial, commercial or professional secret or trade process,

or information, the disclosure of which would be contrary to public

policy (ordre public).

If information is requested by a Contracting State in accordance

with this Article, 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.

In no case shall the provisions of paragraph 3 be construed to

permit a Contracting State to decline to supply information solely because

the information is held by a bank, other financial institution, nominee or

person acting in an agency or a fiduciary capacity or because it relates to

ownership interests in a person.".

Article 2

1. Each of the Contracting States shall notify the other in writing, through

diplomatic channels, of the completion of the procedures required by its law for

the bringing into force of this Protocol.

2. The Protocol shall enter into force on the thirtieth day after the receipt

of the later of the notifications referred to in paragraph 1 and shall thereupon have

effect in respect of Article 25 (Exchange of Information) of the Convention, for

requests made on or after the date of entry into force of this Protocol.

3. This Protocol shall remain in force for as long as the Convention

remains in force.

IN WITNESS WHEREOF the undersigned, being duly authorized thereto by

their respective Governments, have signed this Protocol.

DONE at New York this 25th of September 2013 in duplicate in the English

language.

FOR THE GOVERNMENT

FOR THE GOVERNMENT

OF THE REPUBLIC OF MALTA

OF BARBADOS

George W. Vella

Maxine McClean

€0.36