MULTILATERAL CONVENTION (IMPLEMENTING TAX TREATY RELATED MEASURES TO PREVENT BASE EROSION AND PROFIT SHIFTING)ORDER

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

SUBSIDIARY LEGISLATION 123.183

MULTILATERAL CONVENTION (IMPLEMENTING

TAX TREATY RELATED MEASURES TO PREVENT

BASE EROSION AND PROFIT SHIFTING)ORDER

27th April, 2018

LEGAL NOTICE 142 of 2018.

The title of this Order is the Multilateral Convention

(Implementing Tax Treaty Related Measures to Prevent Base Erosion

and Profit Shifting) Order.

(Article 2)

Multilateral Convention to Implement Tax Treaty Related Measures to

Prevent Base Erosion and Profit Shifting

The Parties to this Convention,

Recognising that governments lose substantial corporate tax

revenue because of aggressive international tax planning that has the

effect of artificially shifting profits to locations where they are subject

to non-taxation or reduced taxation;

Mindful that base erosion and profit shifting (hereinafter

referred to as "BEPS") is a pressing issue not only for industrialised

countries but also for emerging economies and developing countries;

Recognising the importance of ensuring that profits are taxed

where substantive economic activities generating the profits are

carried out and where value is created;

Welcoming the package of measures developed under the

OECD/G20 BEPS project (hereinafter referred to as the "OECD/G20

BEPS package");

Noting that the OECD/G20 BEPS package included tax treaty-

related measures to address certain hybrid mismatch arrangements,

prevent treaty abuse, address artificial avoidance of permanent

establishment status, and improve dispute resolution;

Conscious of the need to ensure swift, co-ordinated and

consistent implementation of the treaty related BEPS measures in a

multilateral context;

Noting the need to ensure that existing agreements for the

avoidance of double taxation on income are interpreted to eliminate

double taxation with respect to the taxes covered by those agreements

without creating opportunities for non-taxation or reduced taxation

through tax evasion or avoidance (including through treaty-shopping

arrangements aimed at obtaining reliefs provided in those agreements

for the indirect benefit of residents of third jurisdictions);

Recognising the need for an effective mechanism to implement

agreed changes in a synchronised and efficient manner across the

network of existing agreements for the avoidance of double taxation

on income without the need to bilaterally renegotiate each such

agreement;

Have agreed as follows

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

PART I

SCOPE AND INTERPRETATION OF TERMS

Article 1 - Scope of the Convention

This Convention modifies all Covered Tax Agreements as

defined in subparagraph a) of paragraph 1 of Article 2 (Interpretation

of Terms).

Article 2 - Interpretation of Terms

1. For the purpose of this Convention, the following

definitions apply

a)

The term "Covered Tax Agreement" means an

agreement for the avoidance of double taxation with respect to

taxes on income (whether or not other taxes are also covered)

i)

that is in force between two or more

A)

Parties; and, or

B) jurisdictions or territories which

are parties to an agreement described above

and for whose international relations a Party is

responsible; and

ii)

with respect to which each such Party

has made a notification to the Depositary listing the

agreement as well as any amending or accompanying

instruments thereto (identified by title, names of the

parties, date of signature, and, if applicable at the time of

the notification, date of entry into force) as an agreement

which it wishes to be covered by this Convention.

b)

The term "Party" means

i)

A State for which this Convention is in

force pursuant to Article 34 (Entry into Force); or

ii)

A jurisdiction which has signed this

Convention pursuant to subparagraph b) or c) of

paragraph 1 of Article 27 (Signature and Ratification,

Acceptance or Approval) and for which this Convention

is in force pursuant to Article 34 (Entry into Force).

c)

The term "Contracting Jurisdiction" means a

party to a Covered Tax Agreement.

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

d)

The term "Signatory" means a State or

jurisdiction which has signed this Convention but for which the

Convention is not yet in force.

2. As regards the application of this Convention at any time

by a Party, any term not defined herein shall, unless the context

otherwise requires, have the meaning that it has at that time under the

relevant Covered Tax Agreement.

PART II

HYBRID MISMATCHES

Article 3 - Transparent Entities

1. For the purposes of a Covered Tax Agreement, income

derived by or through an entity or arrangement that is treated as

wholly or partly fiscally transparent under the tax law of either

Contracting Jurisdiction shall be considered to be income of a resident

of a Contracting Jurisdiction but only to the extent that the income is

treated, for purposes of taxation by that Contracting Jurisdiction, as

the income of a resident of that Contracting Jurisdiction.

2. Provisions of a Covered Tax Agreement that require a

Contracting Jurisdiction to exempt from income tax or provide a

deduction or credit equal to the income tax paid with respect to

income derived by a resident of that Contracting Jurisdiction which

may be taxed in the other Contracting Jurisdiction according to the

provisions of the Covered Tax Agreement shall not apply to the extent

that such provisions allow taxation by that other Contracting

Jurisdiction solely because the income is also income derived by a

resident of that other Contracting Jurisdiction.

It is hereby declared

(a)

that it is expedient that the arrangements

specified in the Multilateral Convention (Implementing Tax

Treaty Related Measures to Prevent Base Erosion and Profit

Shifting) set out in the Schedule to this Order (hereinafter

referred to as "the Convention") made with a view to have an

effective mechanism for the implementation of agreed changes

in a synchronised and efficient manner across the network of

existing agreements for the avoidance of double taxation on

income without the need to bilaterally renegotiate each such

agreement should have effect in Malta;

(b)

that the Convention set out in Schedule 1 to this

Order was signed on the 7th of June 2017;

(c)

that the list of Malta’s reservations and

notifications is set out in Schedule 2 to this Order;

(d)

that the Convention shall enter into force in

accordance with Article 34 of the Multilateral Convention as

set out in the Schedule to this Order;

(e)

that the date of entry into force of the

Convention in Malta shall be announced by notice in the

Gazette.

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

(Article 2)

Malta

Status of List of Reservations and Notifications at the Time of

Signature

For jurisdictions depositing a list subject to confirmation upon

ratification

This document contains a list of reservations and notifications

made by Malta to be confirmed upon deposit of the instrument of

ratification, acceptance or approval subject to Articles 28(6) and

29(3) of the Convention.

Article 2 - Interpretation of Terms

Notification - Agreements Covered by the Convention

Pursuant to Article 2(1)(a)(ii) of the Convention, Malta wishes

the following agreement(s) to be covered by the Convention

Date of

Other

Original/

Date of

Entry

Title

Contracting

Amending

Signature

into

Jurisdiction

Instrument

Force

CONVENTION

Albania

Original

2-05-

23-11-

BETWEEN

THE

GOVERNMENT OF

MALTA AND THE

GOVERNMENT OF

THE REPUBLIC OF

ALBANIA FOR THE

AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Date of

Other

Original/

Date of

Entry

No.

Title

Contracting

Amending

Signature

into

Jurisdiction

Instrument

Force

CONVENTION

Andorra

Original

20-09-

27-09-

BETWEEN

THE

GOVERNMENT OF

THE REPUBLIC OF

MALTA AND THE

GOVERNMENT OF

THE

PRINCIPALITY OF

ANDORRA

FOR

THE AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

AGREEMENT

Australia

Original

09-05-

20-05-

BETWEEN MALTA

AND AUSTRALIA

FOR

THE

AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

CONVENTION

Austria

Original

29-05-

13-07-

BETWEEN

THE

REPUBLIC

OF

MALTA AND THE

REPUBLIC

OF

AUSTRIA FOR THE

AVOIDANCE

OF

DOUBLE

TAXATION WITH

RESPECT

TO

TAXES

ON

INCOME AND ON

CAPITAL

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Date of

Other

Original/

Date of

Entry

No.

Title

Contracting

Amending

Signature

into

Jurisdiction

Instrument

Force

CONVENTION

Azerbaijan

Original

29-04-

27-12-

BETWEEN

THE

GOVERNMENT OF

THE REPUBLIC OF

MALTA AND THE

GOVERNMENT OF

THE REPUBLIC OF

AZERBAIJAN FOR

THE AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

CONVENTION

Bahrain

Original

12-04-

28-02-

BETWEEN

THE

GOVERNMENT OF

MALTA AND THE

GOVERNMENT OF

THE KINGDOM OF

BAHRAIN FOR THE

AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

CONVENTION

Barbados

Original

5-12-

19-06-

BETWEEN MALTA

Amending

AND BARBADOS

Instrument

25-09-

30-04-

FOR

THE

AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Date of

Other

Original/

Date of

Entry

No.

Title

Contracting

Amending

Signature

into

Jurisdiction

Instrument

Force

AGREEMENT

Belgium

Original

28-06-

03-01-

BETWEEN

THE

Amending

STATE OF MALTA

Instrument

23-06-

17-10-

AND

THE

(a)

KINGDOM

OF

BELGIUM FOR THE

Amending

AVOIDANCE

OF

Instrument

DOUBLE

(b)

19-01-

n/a

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

AGREEMENT

Canada

Original

25-07-

20-05-

BETWEEN

THE

REPUBLIC

OF

MALTA

AND

CANADA FOR THE

AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME AND ON

CAPITAL

AGREEMENT

China

Original

23-10-

25-08-

BETWEEN

THE

GOVERNMENT OF

MALTA AND THE

GOVERNMENT OF

THE

PEOPLE’S

REPUBLIC

OF

CHINA FOR THE

PREVENTION OF

FISCAL EVASION

WITH RESPECT TO

TAXES

ON

INCOME

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Date of

Other

Original/

Date of

Entry

No.

Title

Contracting

Amending

Signature

into

Jurisdiction

Instrument

Force

AGREEMENT

Croatia

Original

21-10-

22-08-

BETWEEN

THE

REPUBLIC

OF

MALTA AND THE

REPUBLIC

OF

CROATIA FOR THE

AVOIDANCE

OF

DOUBLE

TAXATION WITH

RESPECT

TO

TAXES

ON

INCOME

DOUBLE

Curaçao

Original

18-11-

n/a

TAXATION

RELIEF(TAXES ON

INCOME)

(THE

KINGDOM OF THE

NETHERLANDS) IN

RESPECT

OF

CURAÇAO

AGREEMENT

Cyprus

Original

22-10-

11-08-

BETWEEN

THE

GOVERNMENT OF

MALTA 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 AND ON

CAPITAL

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Date of

Other

Original/

Date of

Entry

No.

Title

Contracting

Amending

Signature

into

Jurisdiction

Instrument

Force

CONVENTION

Czech

Original

21-06-

06-06-

BETWEEN MALTA

Republic

AND THE CZECH

REPUBLIC

FOR

THE AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME AND ON

CAPITAL

CONVENTION

Denmark

Original

13-07-

28-12-

BETWEEN

THE

GOVERNMENT OF

THE KINGDOM OF

DENMARK

AND

THE

GOVERNMENT OF

THE REPUBLIC OF

MALTA FOR THE

AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

CONVENTION

Egypt

Original

20-02-

07-04-

BETWEEN

THE

REPUBLIC

OF

MALTA AND THE

ARAB REPUBLIC

OF EGYPT FOR

THE AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Date of

Other

Original/

Date of

Entry

No.

Title

Contracting

Amending

Signature

into

Jurisdiction

Instrument

Force

CONVENTION

Estonia

Original

03-05-

22-01-

BETWEEN

THE

GOVERNMENT OF

MALTA AND THE

GOVERNMENT OF

THE REPUBLIC OF

ESTONIA FOR THE

AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

AGREEMENT

Finland

Original

30-10-

30-12-

BETWEEN MALTA

AND

THE

REPUBLIC

OF

FINLAND FOR THE

AVOIDANCE

OF

DOUBLE

TAXATION WITH

RESPECT

TO

TAXES

ON

INCOME

AGREEMENT

France

Original

25-07-

01-10-

BETWEEN

THE

Amending

GOVERNMENT OF

Instrument

08-07-

01-09-

THE REPUBLIC OF

(a)

MALTA AND THE

GOVERNMENT OF

Amending

THE

FRENCH

Instrument

REPUBLIC

FOR

(b)

29-08-

01-06-

THE AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

AND

CAPITAL

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Date of

Other

Original/

Date of

Entry

No.

Title

Contracting

Amending

Signature

into

Jurisdiction

Instrument

Force

AGREEMENT

Georgia

Original

23-10-

30-12-

BETWEEN

THE

GOVERNMENT OF

MALTA AND THE

GOVERNMENT OF

GEORGIA FOR THE

AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME AND ON

CAPITAL

AGREEMENT

Germany

Original

08-03-

27-12-

BETWEEN MALTA

Amending

AND

THE

Instrument

17-06-

19-05-

FEDERAL

(a)

REPUBLIC

OF

GERMANY

FOR

THE AVOIDANCE

OF

DOUBLE

TAXATION WITH

RESPECT

TO

TAXES

ON

INCOME AND ON

CAPITAL

CONVENTION

Greece

Original

13-10-

30-08-

BETWEEN MALTA

AND

THE

HELLENIC

REPUBLIC

FOR

THE AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Date of

Other

Original/

Date of

Entry

No.

Title

Contracting

Amending

Signature

into

Jurisdiction

Instrument

Force

AGREEMENT

Guernsey

Original

12-03-

10-03-

BETWEEN

THE

GOVERNMENT OF

MALTA AND THE

STATES

OF

GUERNSEY

FOR

THE AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

AGREEMENT

Hong Kong

Original

08-11-

18-07-

BETWEEN

THE

GOVERNMENT OF

MALTA AND THE

GOVERNMENT OF

THE HONG KONG

SPECIAL

ADMINISTRATIVE

REGION OF THE

PEOPLE’S

REPUBLIC

OF

CHINA FOR THE

AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

AGREEMENT

Hungary

Original

06-08-

29-11-

BETWEEN MALTA

AND

THE

REPUBLIC

OF

HUNGARY

FOR

THE AVOIDANCE

OF

DOUBLE

TAXATION

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Date of

Other

Original/

Date of

Entry

No.

Title

Contracting

Amending

Signature

into

Jurisdiction

Instrument

Force

CONVENTION

Iceland

Original

23-09-

19-04-

BETWEEN

ICELAND

AND

MALTA FOR THE

AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

AGREEMENT

India

Original

08-04-

07-02-

BETWEEN

THE

GOVERNMENT OF

MALTA AND THE

GOVERNMENT OF

THE REPUBLIC OF

INDIA FOR THE

AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

CONVENTION

Ireland

Original

14-11-

15-01-

BETWEEN MALTA

AND

IRELAND

FOR

THE

AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Date of

Other

Original/

Date of

Entry

No.

Title

Contracting

Amending

Signature

into

Jurisdiction

Instrument

Force

AGREEMENT

Isle of Man

Original

23-10-

26-02-

BETWEEN MALTA

AND THE ISLE OF

MAN FOR THE

AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

CONVENTION

Israel

Original

28-07-

08-12-

BETWEEN

THE

GOVERNMENT OF

MALTA AND THE

GOVERNMENT OF

THE STATE OF

ISRAEL FOR THE

AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

AGREEMENT

Italy

Original

16-07-

08-05-

BETWEEN

THE

Amending

GOVERNMENT OF

Instrument

13-03-

24-11-

THE REPUBLIC OF

(a)

MALTA AND THE

GOVERNMENT OF

THE REPUBLIC OF

ITALY FOR THE

AVOIDANCE

OF

DOUBLE

TAXATION WITH

RESPECT

TO

TAXES

ON

INCOME AND THE

PREVENTION OF

FISCAL EVASION

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Date of

Other

Original/

Date of

Entry

No.

Title

Contracting

Amending

Signature

into

Jurisdiction

Instrument

Force

CONVENTION

Jersey

Original

25-01-

19-07-

BETWEEN MALTA

AND JERSEY FOR

THE AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

CONVENTION

Jordan

Original

16-04-

13-10-

BETWEEN

THE

GOVERNMENT OF

MALTA AND THE

GOVERNMENT OF

THE HASHEMITE

KINGDOM

OF

JORDAN FOR THE

AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

CONVENTION

Korea

Original

25-03-

21-03-

BETWEEN

THE

REPUBLIC

OF

MALTA AND THE

REPUBLIC

OF

KOREA FOR THE

AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Date of

Other

Original/

Date of

Entry

No.

Title

Contracting

Amending

Signature

into

Jurisdiction

Instrument

Force

CONVENTION

Kuwait

Original

24-07-

19-03-

BETWEEN

THE

GOVERNMENT OF

MALTA AND THE

GOVERNMENT OF

THE STATE OF

KUWAIT FOR THE

AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

CONVENTION

Latvia

Original

22-05-

24-10-

BETWEEN

THE

GOVERNMENT OF

MALTA AND THE

GOVERNMENT OF

THE REPUBLIC OF

LATVIA FOR THE

AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

CONVENTION

Lebanon

Original

23-02-

10-02-

BETWEEN MALTA

Amending

AND

LEBANON

Instrument

16-04-

23-03-

FOR

THE

AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Date of

Other

Original/

Date of

Entry

No.

Title

Contracting

Amending

Signature

into

Jurisdiction

Instrument

Force

CONVENTION

Libya

Original

28-12-

20-05-

BETWEEN MALTA

AND THE GREAT

SOCIALIST

PEOPLE'S LIBYAN

ARAB

JAMAHIRIYA FOR

THE AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

CONVENTION

Liechtenste

Original

27-09-

01-07-

BETWEEN

THE

in

GOVERNMENT OF

THE REPUBLIC OF

MALTA AND THE

GOVERNMENT OF

THE

PRINCIPALITY OF

LIECHTENSTEIN

FOR

THE

AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME AND ON

CAPITAL

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Date of

Other

Original/

Date of

Entry

No.

Title

Contracting

Amending

Signature

into

Jurisdiction

Instrument

Force

CONVENTION

Lithuania

Original

17-05-

02-02-

BETWEEN

THE

GOVERNMENT OF

MALTA AND THE

GOVERNMENT OF

THE REPUBLIC OF

LITHUANIA

FOR

THE AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

CONVENTION

Luxembour

Original

29-04-

14-02-

BETWEEN MALTA

g

Amending

AND THE GRAND

Instrument

30-11-

11-07-

DUCHY

OF

(a)

LUXEMBOURG

FOR

THE

AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME AND ON

CAPITAL

CONVENTION

Malaysia

Original

03-10-

01-09-

BETWEEN MALTA

AND

MALAYSIA

FOR

THE

AVOIDANCE

OF

DOUBLE

TAXATION

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Date of

Other

Original/

Date of

Entry

No.

Title

Contracting

Amending

Signature

into

Jurisdiction

Instrument

Force

AGREEMENT

Mauritius

Original

15-10-

23-04-

BETWEEN

THE

GOVERNMENT OF

THE REPUBLIC OF

MALTA AND THE

GOVERNMENT OF

THE REPUBLIC OF

MAURITIUS FOR

THE AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

CONVENTION

Mexico

Original

17-12-

09-08-

BETWEEN

THE

UNITED MEXICAN

STATES

AND

MALTA FOR THE

AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

CONVENTION

Moldova

Original

10-04-

17-06-

BETWEEN

THE

GOVERNMENT OF

THE REPUBLIC OF

MALTA AND THE

GOVERNMENT OF

THE REPUBLIC OF

MOLDOVA

FOR

THE AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT TO TAX

ON INCOME

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Date of

Other

Original/

Date of

Entry

No.

Title

Contracting

Amending

Signature

into

Jurisdiction

Instrument

Force

CONVENTION

Montenegr

Original

04-11-

23-09-

BETWEEN MALTA

o

AND

MONTENEGRO

FOR

THE

AVOIDANCE

OF

DOUBLE

TAXATION

CONVENTION

Morocco

Original

26-10-

15-06-

BETWEEN MALTA

AND

THE

KINGDOM

OF

MOROCCO

FOR

THE AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

AGREEMENT

Netherland

Original

18-05-

09-11-

BETWEEN MALTA

s

Amending

AND

THE

Instrument

18-07-

18-03-

KINGDOM OF THE

(a)

NETHERLANDS

FOR

THE

AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME AND ON

CAPITAL

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Date of

Other

Original/

Date of

Entry

No.

Title

Contracting

Amending

Signature

into

Jurisdiction

Instrument

Force

CONVENTION

Norway

Original

30-03-

14-02-

BETWEEN MALTA

AND

THE

KINGDOM

OF

NORWAY FOR THE

AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

CONVENTION

Pakistan

Original

08-10-

20-12-

BETWEEN

THE

REPUBLIC

OF

MALTA AND THE

ISLAMIC

REPUBLIC

OF

PAKISTAN

FOR

THE AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

THE RESPECT TO

TAXES

ON

INCOME

AGREEMENT

Poland

Original

07-01-

24-11-

BETWEEN

THE

Amending

GOVERNMENT OF

Instrument

06-04-

22-11-

MALTA AND THE

(a)

GOVERNMENT OF

THE REPUBLIC OF

POLAND FOR THE

AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Date of

Other

Original/

Date of

Entry

No.

Title

Contracting

Amending

Signature

into

Jurisdiction

Instrument

Force

CONVENTION

Portugal

Original

26-01-

05-04-

BETWEEN MALTA

AND

THE

PORTUGUESE

REPUBLIC

FOR

THE AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

AGREEMENT

Qatar

Original

26-08-

09-12-

BETWEEN

THE

GOVERNMENT OF

MALTA AND THE

GOVERNMENT OF

THE STATE OF

QATAR FOR THE

AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

AGREEMENT

Romania

Original

30-11-

16-08-

BETWEEN

THE

GOVERNMENT OF

MALTA AND THE

GOVERNMENT OF

ROMANIA

FOR

THE AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Date of

Other

Original/

Date of

Entry

No.

Title

Contracting

Amending

Signature

into

Jurisdiction

Instrument

Force

CONVENTION

Russia

Original

24-04-

22-05-

BETWEEN

THE

GOVERNMENT OF

MALTA AND THE

GOVERNMENT OF

THE

RUSSIAN

FEDERATION FOR

THE AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME AND ON

CAPITAL

CONVENTION

San Marino

Original

03-05-

19-07-

BETWEEN MALTA

Amending

AND

THE

Instrument

10-09-

15-02-

REPUBLIC OF SAN

MARINO

WITH

RESPECT

TO

TAXES

ON

INCOME

CONVENTION

Saudi

Original

04-01-

01-12-

BETWEEN

THE

Arabia

GOVERNMENT OF

MALTA AND THE

GOVERNMENT OF

THE KINGDOM OF

SAUDI

ARABIA

FOR

THE

AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF TAX EVASION

WITH RESPECT TO

TAXES

ON

INCOME

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Date of

Other

Original/

Date of

Entry

No.

Title

Contracting

Amending

Signature

into

Jurisdiction

Instrument

Force

CONVENTION

Serbia

Original

09-09-

16-06-

BETWEEN MALTA

AND

THE

REPUBLIC

OF

SERBIA FOR THE

AVOIDANCE

OF

DOUBLE

TAXATION WITH

RESPECT

TO

TAXES

ON

INCOME

AGREEMENT

Singapore

Original

21-03-

29-02-

BETWEEN

THE

Amending

GOVERNMENT OF

Instrument

20-11-

28-06-

THE REPUBLIC OF

SINGAPORE AND

THE

GOVERNMENT OF

MALTA FOR THE

AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

CONVENTION

Slovakia

Original

07-09-

20-08-

BETWEEN MALTA

AND THE SLOVAK

REPUBLIC

FOR

THE AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Date of

Other

Original/

Date of

Entry

No.

Title

Contracting

Amending

Signature

into

Jurisdiction

Instrument

Force

CONVENTION

Slovenia

Original

08-10-

12-06-

BETWEEN MALTA

AND

THE

REPUBLIC

OF

SLOVENIA

FOR

THE AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

AGREEMENT

South

Original

16-05-

12-11-

BETWEEN MALTA

Africa

Amending

AND

SOUTH

Instrument

24-08-

17-12-

AFRICA FOR THE

AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

CONVENTION

Spain

Original

08-11-

12-09-

BETWEEN MALTA

AND

THE

KINGDOM

OF

SPAIN FOR THE

AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Date of

Other

Original/

Date of

Entry

No.

Title

Contracting

Amending

Signature

into

Jurisdiction

Instrument

Force

CONVENTION

Sweden

Original

09-10-

03-02-

BETWEEN MALTA

AND SWEDEN FOR

THE AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

CONVENTION

Switzerland

Original

25-02-

06-07-

BETWEEN MALTA

AND THE SWISS

CONFEDERATION

FOR

THE

AVOIDANCE

OF

DOUBLE

TAXATION WITH

RESPECT

TO

TAXES

ON

INCOME

CONVENTION

Syria

Original

22-02-

16-10-

BETWEEN

THE

REPUBLIC

OF

MALTA AND THE

SYRIAN

ARAB

REPUBLIC

FOR

THE AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Date of

Other

Original/

Date of

Entry

No.

Title

Contracting

Amending

Signature

into

Jurisdiction

Instrument

Force

CONVENTION

Tunisia

Original

31-05-

31-12-

BETWEEN MALTA

AND

THE

REPUBLIC

OF

TUNISIA FOR THE

AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

AGREEMENT

Turkey

Original

14-07-

13-06-

BETWEEN

THE

REPUBLIC

OF

MALTA AND THE

REPUBLIC

OF

TURKEY FOR THE

AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

CONVENTION

Ukraine

Original

04-09-

28-08-

BETWEEN

THE

GOVERNMENT OF

UKRAINE

AND

GOVERNMENT OF

THE REPUBLIC OF

MALTA FOR THE

AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Date of

Other

Original/

Date of

Entry

No.

Title

Contracting

Amending

Signature

into

Jurisdiction

Instrument

Force

CONVENTION

United

Original

13-03-

18-05-

BETWEEN MALTA

Arab

AND THE UNITED

Emirates

ARAB EMIRATES

FOR

THE

AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

CONVENTION

United

Original

12-05-

27-03-

BETWEEN MALTA

Kingdom

AND THE UNITED

KINGDOM

OF

GREAT

BRITAIN

AND NORTHERN

IRELAND FOR THE

AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

AND

CAPITAL GAINS

CONVENTION

Uruguay

Original

11-03-

13-12-

BETWEEN MALTA

AND

THE

ORIENTAL

REPUBLIC

OF

URUGUAY

FOR

THE AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME AND ON

CAPITAL

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Date of

Other

Original/

Date of

Entry

Title

Contracting

Amending

Signature

into

Jurisdiction

Instrument

Force

AGREEMENT

Viet Nam

Original

15-07-

25-11-

BETWEEN

THE

GOVERNMENT OF

THE REPUBLIC OF

MALTA AND THE

GOVERNMENT OF

THE

SOCIALIST

REPUBLIC OF VIET

NAM FOR THE

AVOIDANCE

OF

DOUBLE

TAXATION

AND

THE PREVENTION

OF

FISCAL

EVASION

WITH

RESPECT

TO

TAXES

ON

INCOME

Article 3 - Transparent Entities

Reservation

Pursuant to Article 3(5)(a) of the Convention, Malta reserves

the right for the entirety of Article 3 not to apply to its Covered Tax

Agreements.

Article 4 - Dual Resident Entities

Reservation

Pursuant to Article 4(3)(a) of the Convention, Malta reserves

the right for the entirety of Article 4 not to apply to its Covered Tax

Agreements.

Article 5 - Application of Methods for Elimination of Double

Taxation

Reservation

Pursuant to Article 5(8) of the Convention, Malta reserves the

right for the entirety of Article 5 not to apply with respect to all of its

Covered Tax Agreements.

Article 6 - Purpose of a Covered Tax Agreement

Notification of Choice of Optional Provisions

Pursuant to Article 6(6) of the Convention, Malta hereby

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

chooses to apply Article 6(3).

Notification of Existing Preamble Language in Listed

Agreements

Pursuant to Article 6(5) of the Convention, Malta considers

that the following agreements are not within the scope of a

reservation under Article 6(4) and contain preamble language

described in Article 6(2). The text of the relevant preambular

paragraph is identified below.

Listed

Other

Agreement

Contracting

Preamble Text

Number

Jurisdiction

Desiring, for the purpose of further developing

and facilitating their economic relationship, to

Albania

conclude a Convention for the avoidance of

double taxation and the prevention of fiscal

evasion with respect to taxes on income

desiring to further develop their economic

relations and to enhance their cooperation in

tax matters by way of concluding a Convention

for the avoidance of double taxation and the

Andorra

prevention of fiscal evasion with respect to

taxes on income without creating opportunities

for non-taxation or reduced taxation through

tax evasion or avoidance

desiring to conclude an Agreement for the

avoidance of double taxation and the

Australia

prevention of fiscal evasion with respect to

taxes on income

desiring to conclude a Convention for the

Austria

Avoidance of Double Taxation with respect to

taxes on Income and on Capital

Desiring to promote bilateral economic

relations between the two countries through

Azerbaijan

conclusion of a Convention for the avoidance

of double taxation and the prevention of fiscal

evasion with respect to taxes on income

Desiring to conclude a Convention for the

avoidance of double taxation and the

Bahrain

prevention of fiscal evasion with respect to

taxes on income

Desiring to conclude a Convention for the

avoidance of double taxation and the

Barbados

prevention of fiscal evasion with respect to

taxes on income

desiring to conclude an Agreement for the

Belgium

avoidance of double taxation and the

prevention of fiscal evasion

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Listed

Other

Agreement

Contracting

Preamble Text

Number

Jurisdiction

desiring to conclude an Agreement for the

avoidance of double taxation and the

Canada

prevention of fiscal evasion with respect to

taxes on income and on capital

Desiring to conclude an Agreement for the

China

avoidance of double taxation and the

(People’s

prevention of fiscal evasion with respect to

Republic of)

taxes on income

desiring to conclude an Agreement for the

Croatia

avoidance of double taxation with respect to

taxes on income

Desiring to conclude a convention for the

avoidance of double taxation and the

Curaçao

prevention of fiscal evasion with respect to

taxes on income

desiring to conclude an Agreement for the

Avoidance of Double Taxation and the

Cyprus

prevention of fiscal evasion with respect to

taxes on income and on capital

desiring to conclude a Convention for the

Czech

avoidance of double taxation and the

Republic

prevention of fiscal evasion with respect to

taxes on income and on capital

desiring to conclude a Convention for the

Avoidance of Double Taxation and the

Denmark

Prevention of Fiscal Evasion with Respect to

Taxes on Income

Desiring to conclude a Convention for the

Avoidance of Double Taxation and the

Egypt

Prevention of Fiscal Evasion with respect to

Taxes on Income

desiring to conclude a Convention for the

avoidance of double taxation and the

Estonia

prevention of fiscal evasion with respect to

taxes on income

desiring to conclude an Agreement for the

Finland

avoidance of double taxation with respect to

taxes on income

desiring to conclude an Agreement for the

avoidance of double taxation and the

France

prevention of fiscal evasion with respect to

taxes on income

Desiring to conclude an Agreement for the

avoidance of double taxation and the

Georgia

prevention of fiscal evasion with respect to

taxes on income and on capital

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Listed

Other

Agreement

Contracting

Preamble Text

Number

Jurisdiction

Desiring to promote their mutual economic

Germany

relations by removing fiscal obstacles

Desiring to conclude a Convention for the

avoidance of double taxation and the

Greece

prevention of fiscal evasion with respect to

taxes on income

desiring to conclude an Agreement for the

avoidance of double taxation and the

Guernsey

prevention of fiscal evasion with respect to

taxes on income

Desiring to conclude an Agreement for the

Hong Kong

avoidance of double taxation and the

(China)

prevention of fiscal evasion with respect to

taxes on income

desiring to conclude an Agreement for the

Avoidance of Double Taxation and the

Hungary

prevention of fiscal evasion with respect to

taxes on income

desiring to conclude a Convention for the

avoidance of double taxation and the

Iceland

prevention of fiscal evasion with respect to

taxes on income

desiring to conclude an Agreement for the

avoidance of double taxation and the

prevention of fiscal evasion with respect to

India

taxes on income and with a view to promoting

economic cooperation between the two

countries

desiring to conclude a Convention for the

avoidance of double taxation and the

Ireland

prevention of fiscal evasion with respect to

taxes on income

Desiring to conclude an Agreement for the

avoidance of double taxation and the

Isle of Man

prevention of fiscal evasion with respect to

taxes on income

desiring to conclude a Convention for the

avoidance of double taxation and the

Israel

prevention of fiscal evasion with respect to

taxes on income

desiring to conclude an Agreement for the

Avoidance of Double Taxation with respect to

Italy

Taxes on Income and the Prevention of Fiscal

Evasion

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Listed

Other

Agreement

Contracting

Preamble Text

Number

Jurisdiction

desiring to conclude an Agreement for the

avoidance of double taxation and the

Jersey

prevention of fiscal evasion with respect to

taxes on income

desiring to conclude a Convention for the

avoidance of double taxation and the

Jordan

prevention of fiscal evasion with respect to

taxes on income

desiring to conclude a Convention for the

avoidance of double taxation and the

Korea

prevention of fiscal evasion with respect to

taxes on income

desiring to promote their mutual economic

relations by removing fiscal obstacles through

the conclusion of a convention for the

Kuwait

avoidance of double taxation and the

prevention of fiscal evasion with respect to

taxes on income

desiring to conclude a Convention for the

avoidance of double taxation and the

Latvia

prevention of fiscal evasion with respect to

taxes on income

Desiring to promote and strengthen their

economic co-operation by concluding a

Lebanon

Convention for the avoidance of double

taxation and the prevention of fiscal evasion

with respect to taxes on income

decided to conclude a Convention for the

avoidance of double taxation and the

Libya

prevention of fiscal evasion with respect to

taxes on income

WHEREAS the Contracting States recognise

that the well-developed economic ties between

the Contracting States call for further

economic cooperation;

WHEREAS the Contracting States wish to

develop their relationship further by

Liechtenstein

cooperating to their mutual benefits in the field

of taxation; and

WHEREAS the Contracting States wish to

conclude a Convention for the avoidance of

double taxation and the prevention of fiscal

evasion with respect to taxes on income and on

capital

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Listed

Other

Agreement

Contracting

Preamble Text

Number

Jurisdiction

desiring to conclude a Convention for the

avoidance of double taxation and the

Lithuania

prevention of fiscal evasion with respect to

taxes on income

desiring to conclude a Convention for the

avoidance of double taxation and the

Luxembourg

prevention of fiscal evasion with respect to

taxes on income and on capital

desiring to conclude an Agreement for the

Malaysia

Avoidance of Double Taxation

desiring to conclude an agreement for the

avoidance of double taxation and the

Mauritius

prevention of fiscal evasion with respect to

taxes on income

DESIRING to conclude a Convention for the

avoidance of double taxation and the

Mexico

prevention of fiscal evasion with respect to

taxes on income

desiring to conclude a Convention for the

avoidance of double taxation and the

Moldova

prevention of fiscal evasion with respect to tax

on income

desiring to conclude an Agreement for the

Montenegro

Avoidance of Double Taxation

desiring to conclude a Convention for the

avoidance of double taxation and the

Morocco

prevention of fiscal evasion with respect to

taxes on income

Desiring to conclude an agreement for the

avoidance of double taxation and the

Netherlands

prevention of fiscal evasion with respect to

taxes on income and on capital

desiring to conclude a Convention for the

Avoidance of Double Taxation and the

Norway

Prevention of Fiscal Evasion with respect to

taxes on income

desiring to conclude a Convention for the

Avoidance of Double Taxation and the

Pakistan

Prevention of Fiscal Evasion with respect to

taxes on income

desiring to conclude an Agreement for the

avoidance of double taxation and the

Poland

prevention of fiscal evasion with respect to

taxes on income

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Listed

Other

Agreement

Contracting

Preamble Text

Number

Jurisdiction

desiring to conclude a Convention for the

avoidance of double taxation and the

Portugal

prevention of fiscal evasion with respect to

taxes on income

Desiring to conclude an Agreement for the

Avoidance of Double Taxation and the

Qatar

Prevention of Fiscal Evasion with Respect to

Taxes on Income

Desiring to conclude an Agreement for the

Avoidance of Double Taxation and the

prevention of fiscal evasion with respect to

taxes on income and to promote and strengthen

Romania

the economic relations between the two

countries on the basis of national sovereignty

and respect of independence, full equal rights,

mutual advantage and non-interference in the

internal affairs

Desiring to conclude a Convention for the

avoidance of double taxation and the

Russia

prevention of fiscal evasion with respect to

taxes on income

desiring to conclude a Convention with respect

to taxes on income, and to strengthen the

San Marino

disciplined development of economic relations

between the two States in the framework of

greater cooperation

desiring to conclude a Convention for the

avoidance of double taxation and the

Saudi Arabia

prevention of tax evasion with respect to taxes

on income

desiring to conclude a Convention for the

Serbia

avoidance of double taxation with respect to

taxes on income

Desiring to conclude an Agreement for the

avoidance of double taxation and the

Singapore

prevention of fiscal evasion with respect to

taxes on income

desiring to conclude a Convention for the

Slovak

avoidance of double taxation and the

Republic

prevention of fiscal evasion with respect to

taxes on income

desiring to conclude a Convention for the

avoidance of double taxation and the

Slovenia

prevention of fiscal evasion with respect to

taxes on income

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Listed

Other

Agreement

Contracting

Preamble Text

Number

Jurisdiction

desiring to conclude an Agreement for the

avoidance of double taxation and the

South Africa

prevention of fiscal evasion with respect to

taxes on income

desiring to conclude a Convention for the

Avoidance of Double Taxation and the

Spain

Prevention of Fiscal Evasion with respect to

Taxes on Income

desiring to conclude a Convention for the

avoidance of double taxation and the

Sweden

prevention of fiscal evasion with respect to

taxes on income

DESIRING to conclude a Convention for the

Switzerland

avoidance of double taxation with respect to

taxes on income

desiring to conclude a Convention for the

Avoidance of Double Taxation and the

Syria

Prevention of Fiscal Evasion with respect to

Taxes on Income

desiring to conclude a Convention for the

avoidance of double taxation and the

Tunisia

prevention of fiscal evasion with respect to

taxes on income

Desiring to conclude an agreement for the

avoidance of double taxation and the

Turkey

prevention of fiscal evasion with respect to

taxes on income

Desiring to conclude a convention for the

avoidance of double taxation and the

prevention of fiscal evasion with respect to

Ukraine

taxes on income and confirming their

endeavour to develop and strengthen mutual

economic relations

desiring to conclude a Convention for the

United Arab

avoidance of double taxation and the

Emirates

prevention of fiscal evasion with respect to

taxes on income

desiring to conclude a new Convention for the

United

Avoidance of Double Taxation and the

Kingdom

prevention of fiscal evasion with respect to

taxes on income and capital gains

Desiring to conclude a Convention for the

avoidance of double taxation and the

Uruguay

prevention of fiscal evasion with respect to

taxes on income and on capital

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Listed

Other

Agreement

Contracting

Preamble Text

Number

Jurisdiction

Desiring to conclude an Agreement for the

avoidance of double taxation and the

Viet Nam

prevention of fiscal evasion with respect to

taxes on income

Notification of Listed Agreements Not Containing Existing

Preamble Language

Pursuant to Article 6(6) of the Convention, Malta considers that

the following agreements do not contain preamble language referring

to a desire to develop an economic relationship or to enhance co-

operation in tax matters.

Listed Agreement Number

Other Contracting Jurisdiction

Australia

Austria

Bahrain

Barbados

Belgium

Canada

China

Croatia

Curaçao

Cyprus

Czech Republic

Denmark

Egypt

Estonia

Finland

France

Georgia

Greece

Guernsey

Hong Kong

Hungary

Iceland

Ireland

Isle of Man

Israel

Italy

Jersey

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Listed Agreement Number

Other Contracting Jurisdiction

Jordan

Korea

Latvia

Libya

Liechtenstein

Lithuania

Luxembourg

Malaysia

Mauritius

Mexico

Moldova

Montenegro

Morocco

Netherlands

Norway

Pakistan

Poland

Portugal

Qatar

Russia

Saudi Arabia

Serbia

Singapore

Slovakia

Slovenia

South Africa

Spain

Sweden

Switzerland

Syria

Tunisia

Turkey

Ukraine

United Arab Emirates

United Kingdom

Uruguay

Viet Nam

Article 7 - Prevention of Treaty Abuse

Notification of Choice of Optional Provisions

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Pursuant to Article 7(17)(b) of the Convention, Malta hereby

chooses to apply Article 7(4).

Notification of Existing Provisions in Listed Agreements

Pursuant to Article 7(17)(a) of the Convention, Malta considers

that the following agreements are not subject to a reservation

described in Article 7(15)(b) and contain a provision described in

Article 7(2). The article and paragraph number of each such provision

is identified below.

Listed

Other

Agreement

Contracting

Provision

Number

Jurisdiction

China

Article 10(6), 11(8), 12(7), 22(3)

Denmark

Article 10(7), 11(5), 12(5)

Estonia

Article 26(3)

France

Article 10(8), 11(8), 12(8), 22(3)

India

Article 27(2) (3)

Israel

Article 26(1),(2)

Latvia

Article 27(3)

Lithuania

Article 27(3)

Mexico

Protocol (3)(I)

Netherlands

Protocol (IV)

Norway

Article 10(7)

Poland

Article 10(6), 11(8), 12(7)

Russia

Article 10(8), 11(8), 12(8), 27(1)

Spain

Article 27(2)

Turkey

Article 26(3)

Ukraine

Article 21(1)

United

Article 11(7), 12(7), 21(3)

Kingdom

Article 8 - Dividend Transfer Transactions

Reservation

Pursuant to Article 8(3)(a) of the Convention, Malta reserves

the right for the entirety of Article 8 not to apply to its Covered Tax

Agreements.

Article 9 - Capital Gains from Alienation of Shares or Interests

of Entities Deriving their Value Principally from Immovable Property

Reservation

Pursuant to Article 9(6)(a) of the Convention, Malta reserves

the right for Article 9(1) not to apply to its Covered Tax Agreements.

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Notification of Choice of Optional Provisions

Pursuant to Article 9(8) of the Convention, Malta hereby

chooses to apply Article 9(4).

Notification of Existing Provisions in Listed Agreements

Pursuant to Article 9(8) of the Convention, Malta considers

that the following agreements contain a provision described in

Article 9(5). The article and paragraph number of each such

provision is identified below.

Listed

Other Contracting

Agreement

Provision

Jurisdiction

Number

Albania

Article 13(4)

Andorra

Article 13(4)

Australia

Article 13(2)

Azerbaijan

Article 13(4)

Bahrain

Article 13(4)

Barbados

Article 13(2)

China (People’s Republic of)

Article 13(4)

Croatia

Article 13(2)

Curaçao

Article 12(4)

Cyprus

Article 13(2)

Czech Republic

Article 13(3)

Denmark

Article 13(2)

Egypt

Article 13(2)

Estonia

Article 13(1)

Finland

Article 13(2)

France

Article 13(1)

Georgia

Article 13(4)

Germany

Article 13(2)

Greece

Article 13(2)

Guernsey

Article 13(4)

Hong Kong (China)

Article 13(4)

Hungary

Article 13(2)

Iceland

Article 13(2)

Ireland

Article 13(2)

Isle of Man

Article 13(4)

Israel

Article 13(2)(a)

Jersey

Article 13(4)

Jordan

Article 13(2)

Korea

Article 13(2)

Kuwait

Article 13(1)

Latvia

Article 13(1)

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Listed

Other Contracting

Agreement

Provision

Jurisdiction

Number

Lebanon

Article 13(2)

Libya

Article 14(4)

Liechtenstein

Article 13(4)

Lithuania

Article 13(1)

Luxembourg

Article 13(1)

Malaysia

Article 14(3)

Mexico

Article 13(2)

Moldova

Article 13(4)

Montenegro

Article 13(4)

Morocco

Article 13(2)

Norway

Article 13(4)

Poland

Article 13(2)

Portugal

Article 13(2)

Qatar

Article 13(4)

Romania

Article 13(4)

Russia

Article 13(4)

San Marino

Article 13(4)

Saudi Arabia

Article 13(4)

Serbia

Article 13(4)

Singapore

Article 13(2)

Slovak Republic

Article 13(2)

Slovenia

Article 13(2)

South Africa

Article 13(2)

Spain

Article 13(4)

Sweden

Article 13(2)

Switzerland

Article 13(4)

Syria

Article 13(2)

Tunisia

Article 13(2)

Turkey

Article 13(2)

Ukraine

Article 13(4)

United Arab Emirates

Article 13(2)

United Kingdom

Article 13(2)

Uruguay

Article 13(4)

Viet Nam

Article 14(4)

Article 10 - Anti-abuse Rule for Permanent Establishments

Situated in Third Jurisdictions

Reservation

Pursuant to Article 10(5)(a) of the Convention, Malta reserves

the right for the entirety of Article 10 not to apply to its Covered Tax

Agreements.

TREATY RELATED MEASURES TO PREVENT BASE

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Article 11 - Application of Tax Agreements to Restrict a

Party’s Right to Tax its Own Residents

Reservation

Pursuant to Article 11(3)(a) of the Convention, Malta reserves

the right for the entirety of Article 11 not to apply to its Covered Tax

Agreements.

Article 12 - Artificial Avoidance of Permanent Establishment

Status through Commissionnaire Arrangements and Similar

Strategies

Reservation

Pursuant to Article 12(4) of the Convention, Malta reserves the

right for the entirety of Article 12 not to apply to its Covered Tax

Agreements.

Article 13 - Artificial Avoidance of Permanent Establishment

Status through the Specific Activity Exemptions

Reservation

Pursuant to Article 13(6)(a) of the Convention, Malta reserves

the right for the entirety of Article 13 not to apply to its Covered Tax

Agreements.

Article 14 - Splitting-up of Contracts

Reservation

Pursuant to Article 14(3)(a) of the Convention, Malta reserves

the right for the entirety of Article 14 not to apply to its Covered Tax

Agreements.

Article 15 - Definition of a Person Closely Related to an

Enterprise

Reservation

Pursuant to Article 15(2) of the Convention, Malta reserves the

right for the entirety of Article 15 not to apply to the Covered Tax

Agreement to which the reservations described in Article 12(4),

Article 13(6)(a) or (c), and Article 14(3)(a) apply.

Article 16 - Mutual Agreement Procedure

Reservation

Notification of Existing Provisions in Listed Agreements

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Pursuant to Article 16(6)(a) of the Convention, Malta considers

that the following agreements contains a provision described in

Article 16(4)(a)(i). The article and paragraph number of each such

provision is identified below.

Listed

Other Contracting

Agreement

Provision

Jurisdiction

Number

Albania

Article 24(1), first sentence

Andorra

Article 23(1), first sentence

Australia

Article 24(1), first sentence

Austria

Article 25(1), first sentence

Azerbaijan

Article 24(1), first sentence

Bahrain

Article 23(1), first sentence

Barbados

Article 24(1), first sentence

Belgium

Article 25(1), first sentence

Canada

Article 25(1), first sentence

China

Article 26(1), first sentence

Croatia

Article 24(1), first sentence

Curaçao

Article 24(1),first sentence

Cyprus

Article 26(1), first sentence

Czech Republic

Article 25(1), first sentence

Denmark

Article 26(1), first sentence

Egypt

Article 24(1), first sentence

Estonia

Article 24(1), first sentence

Finland

Article 25(1), first sentence

France

Article 26(1), first sentence

Georgia

Article 25(1), first sentence

Germany

Article 25(1), first sentence

Greece

Article 24(1), first sentence

Guernsey

Article 23(1), first sentence

Hong Kong

Article 23(1), first sentence

Hungary

Article 25(1), first sentence

Iceland

Article 24(1), first sentence

India

Article 25(1), first sentence

Ireland

Article 24(1), first sentence

Isle of Man

Article 24(1), first sentence

Israel

Article 24(1), first sentence

Italy

Article 24(1), first sentence

Jersey

Article 24(1), first sentence

Jordan

Article 24(1), first sentence

Korea

Article 25(1), first sentence

Kuwait

Article 25(1), first sentence

Latvia

Article 25(1), first sentence

Lebanon

Article 24(1), first sentence

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Listed

Other Contracting

Agreement

Provision

Jurisdiction

Number

Libya

Article 26(1), first sentence

Liechtenstein

Article 24(1), first sentence

Lithuania

Article 25(1), first sentence

Luxembourg

Article 25(1), first sentence

Malaysia

Article 26(1), first sentence

Mauritius

Article 24(1), first sentence

Mexico

Article 23(1), first sentence

Moldova

Article 23(1), first sentence

Montenegro

Article 24(1), first sentence

Morocco

Article 25(1), first sentence

Netherlands

Article 27(1), first sentence

Norway

Article 24(1), first sentence

Pakistan

Article 24(1), first sentence

Poland

Article 25(1), first sentence

Portugal

Article 24(1), first sentence

Qatar

Article 25(1), first sentence

Romania

Article 26(1), first sentence

Russia

Article 24(1), first sentence

San Marino

Article 24(1), first sentence

Saudi Arabia

Article 24(1), first sentence

Serbia

Article 24(1), first sentence

Singapore

Article 24(1), first sentence

Slovakia

Article 24(1), first sentence

Slovenia

Article 25(1), first sentence

South Africa

Article 24(1), first sentence

Spain

Article 24(1), first sentence

Sweden

Article 24(1), first sentence

Switzerland

Article 25(1), first sentence

Syria

Article 24(1), first sentence

Tunisia

Article 24(1), first sentence

Turkey

Article 24(1), first sentence

Ukraine

Article 24(1),first sentence

United Arab Emirates

Article 24(1), first sentence

United Kingdom

Article 26(1), first sentence

Uruguay

Article 24(1), first sentence

Viet Nam

Article 25(1), first sentence

Pursuant to Article 16(6)(b)(i) of the Convention, Malta

considers that the following agreements contain a provision that

provides that a case referred to in the first sentence of Article 16(1)

must be presented within a specific time period that is shorter than

three years from the first notification of the action resulting in

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

taxation not in accordance with the provisions of the Covered Tax

Agreement. The article and paragraph number of each such provision

is identified below.

Listed

Other Contracting

Agreement

Provision

Jurisdiction

Number

Canada

Article 25(1), second

sentence

San Marino

Article 24(1), second

sentence

Pursuant to Article 16(6)(b)(ii) of the Convention, Malta

considers that the following agreements contain a provision that

provides that a case referred to in the first sentence of Article 16(1)

must be presented within a specific time period that is at least three

years from the first notification of the action resulting in taxation not

in accordance with the provisions of the Covered Tax Agreement. The

article and paragraph number of each such provision is identified

below.

Listed

Other Contracting

Agreement

Provision

Jurisdiction

Number

Albania

Article 24(1), second

sentence

Andorra

Article 23(1), second

sentence

Australia

Article 24(1), second

sentence

Austria

Article 25(1), second

sentence

Azerbaijan

Article 24(1), second

sentence

Bahrain

Article 23(1), second

sentence

Barbados

Article 24(1), second

sentence

Belgium

Article 25(1), second

sentence

China

Article 26(1), second

sentence

Croatia

Article 24(1), second

sentence

Curaçao

Article 25(1),second

sentence

Cyprus

Article 26(1), second

sentence

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Listed

Other Contracting

Agreement

Provision

Jurisdiction

Number

Czech Republic

Article 25(1), second

sentence

Denmark

Article 26(1), second

sentence

Egypt

Article 24(1), second

sentence

Estonia

Article 24(1), second

sentence

Finland

Article 25(1), second

sentence

France

Article 26(1), second

sentence

Georgia

Article 25(1), second

sentence

Germany

Article 25(1), second

sentence

Greece

Article 24(1), second

sentence

Guernsey

Article 23(1), second

sentence

Hong Kong

Article 23(1), second

sentence

Hungary

Article 25(1), second

sentence

Iceland

Article 24(1), second

sentence

India

Article 25(1), second

sentence

Ireland

Article 24(1), second

sentence

Isle of Man

Article 24(1), second

sentence

Israel

Article 24(1), second

sentence

Italy

Article 24(1), second

sentence

Jersey

Article 24(1), second

sentence

Jordan

Article 24(1), second

sentence

Korea

Article 25(1), second

sentence

Kuwait

Article 25(1), second

sentence

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Listed

Other Contracting

Agreement

Provision

Jurisdiction

Number

Latvia

Article 25(1), second

sentence

Lebanon

Article 24(1), second

sentence

Libya

Article 26(1), second

sentence

Liechtenstein

Article 24(1), second

sentence

Lithuania

Article 25(1), second

sentence

Luxembourg

Article 25(1), second

sentence

Malaysia

Article 26(1), second

sentence

Mauritius

Article 24(1), second

sentence

Mexico

Article 23(1), second

sentence

Moldova

Article 23(1), second

sentence

Montenegro

Article 24(1), second

sentence

Morocco

Article 25(1), second

sentence

Netherlands

Article 27(1), second

sentence

Norway

Article 24(1), second

sentence

Poland

Article 25(1), second

sentence

Portugal

Article 24(1), second

sentence

Qatar

Article 25(1), second

sentence

Romania

Article 26(1), second

sentence

Russia

Article 24(1), second

sentence

Saudi Arabia

Article 24(1), second

sentence

Serbia

Article 24(1), second

sentence

Singapore

Article 24(1), second

sentence

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Listed

Other Contracting

Agreement

Provision

Jurisdiction

Number

Slovakia

Article 24(1), second

sentence

Slovenia

Article 25(1), second

sentence

South Africa

Article 24(1), second

sentence

Spain

Article 24(1), second

sentence

Sweden

Article 24(1), second

sentence

Switzerland

Article 25(1), second

sentence

Syria

Article 24(1), second

sentence

Tunisia

Article 24(1), second

sentence

Turkey

Article 24(1), second

sentence

Ukraine

Article 24(1),second

sentence

United Arab Emirates

Article 24(1), second

sentence

Uruguay

Article 24(1), second

sentence

Viet Nam

Article 25(1), second

sentence

Notification of Listed Agreements Not Containing Existing

Provisions

Pursuant to Article 16(6)(c)(i) of the Convention, Malta

considers that the following agreement does not contain a provision

described in Article 16(4)(b)(i).

Listed Agreement Number

Other Contracting Jurisdiction

Mexico

Pursuant to Article 16(6)(c)(ii) of the Convention, Malta

considers that the following agreements do not contain a provision

described in Article 16(4)(b)(ii).

Listed Agreement Number

Other Contracting Jurisdiction

Belgium

Canada

Pakistan

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Qatar

Switzerland

United Kingdom

Pursuant to Article 16(6)(d)(i) of the Convention, Malta

considers that the following agreements do not contain a provision

described in Article 16(4)(c)(i).

Listed Agreement Number

Other Contracting Jurisdiction

Belgium

France

Pursuant to Article 16(6)(d)(ii) of the Convention, Malta

considers that the following agreements do not contain a provision

described in Article 16(4)(c)(ii).

Listed Agreement Number

Other Contracting Jurisdiction

Australia

Belgium

Pakistan

Ukraine

United Kingdom

Article 17 - Corresponding Adjustments

Reservation

Notification of Existing Provisions in Listed Agreements

Pursuant to Article 17(4) of the Convention, Malta considers

that the following agreements contain a provision described in Article

17(2). The article and paragraph number of each such provision is

identified below.

Listed

Other Contracting

Agreement

Provision

Jurisdiction

Number

Albania

Article 9(2)

Andorra

Article 9(2)

Australia

Article 9(3)

Azerbaijan

Article 9(2)

Bahrain

Article 9(2)

Barbados

Article 9(2)

Canada

Article 9(2)

China

Article 9(2)

Curaçao

Article 9(2)

Cyprus

Article 9(3)

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Listed

Other Contracting

Agreement

Provision

Jurisdiction

Number

Czech Republic

Article 9(2)

Denmark

Article 9(2)

Egypt

Article 9(2)

Estonia

Article 9(2)

Finland

Article 9(2)

Georgia

Article 9(2)

Germany

Article 9(2)

Greece

Article 9(2)

Guernsey

Article 9(2)

Hong Kong

Article 9(2)

Hungary

Article 9(3)

Iceland

Article 9(2)

India

Article 9(2)

Ireland

Article 9(2)

Isle of Man

Article 9(2)

Israel

Article 9(2)

Jersey

Article 9(2)

Jordan

Article 9(2)

Korea

Article 9(2)

Kuwait

Article 9(2)

Latvia

Article 9(2)

Lebanon

Article 9(2)

Libya

Article 10(2)

Liechtenstein

Article 9(2)

Lithuania

Article 9(2)

Luxembourg

Article 9(2)

Mauritius

Article 9(2)

Mexico

Article 9(2)

Moldova

Article 9(2)

Montenegro

Article 9(2)

Morocco

Article 9(2)

Netherlands

Article 9(2)

Norway

Article 9(2)

Poland

Article 9(3)

Portugal

Article 9(2)

Romania

Article 9(2)

Russia

Article 9(2)

San Marino

Article 9(2)

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Listed

Other Contracting

Agreement

Provision

Jurisdiction

Number

Saudi Arabia

Article 9(2)

Serbia

Article 9(2)

Singapore

Article 9(2)

Slovak Republic

Article 9(2)

Slovenia

Article 9(2)

South Africa

Article 9(2)

Spain

Article 9(2)

Sweden

Article 9(2)

Switzerland

Article 9(2)

Syria

Article 9(2)

Tunisia

Article 9(2)

Turkey

Article 9(2)

Ukraine

Article 9(2)

United Arab Emirates

Article 9(2)

United Kingdom

Article 9(2)

Uruguay

Article 9(2)

Viet Nam

Article 9(2)

Article 18 - Choice to Apply Part VI

Notification of Choice of Optional Provisions

Pursuant to Article 18 of the Convention, Malta hereby chooses

to apply Part VI.

Article 19 - Mandatory Binding Arbitration

Reservation

Pursuant to Article 19(12) of the Convention, Malta reserves

the right for the following rules to apply with respect to its Covered

Tax Agreements notwithstanding the other provisions of Article 19

a)

any unresolved issue arising from a mutual

agreement procedure case otherwise within the scope of the

arbitration process provided for by the Convention shall not be

submitted to arbitration, if a decision on this issue has already

been rendered by a court or administrative tribunal of either

Contracting Jurisdiction;

b)

if, at any time after a request for arbitration has

been made and before the arbitration panel has delivered its

decision to the competent authorities of the Contracting

Jurisdictions, a decision concerning the issue is rendered by a

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

court or administrative tribunal of one of the Contracting

Jurisdictions, the arbitration process shall terminate.

Article 23 - Type of Arbitration Process

Reservation

Pursuant to Article 23(2) of the Convention, for the purpose of

applying Article 23 to its Covered Tax Agreements, Malta reserves

the right for Article 23(1) not to apply to its Covered Tax

Agreements.

Notification of Choice of Optional Provisions

Pursuant to Article 23(4) of the Convention, Malta hereby

chooses to apply Article 23(5).

Article 24 - Agreement on a Different Resolution

Notification of Choice of Optional Provisions

Pursuant to Article 24(1) of the Convention, Malta hereby

chooses to apply Article 24(2).

Article 26 - Compatibility

Reservation

Pursuant to Article 26(4) of the Convention, Malta reserves the

right for Part VI not to apply with respect to the following

agreements that already provide for mandatory binding arbitration of

unresolved issues arising from a mutual agreement procedure case.

The article and paragraph number of each such provision is identified

below.

Listed

Other Contracting

Agreement

Provision

Jurisdiction

Number

Curaçao

Article 24(5)

Moldova

Article 23(5)

Liechtenstein

Article 24(5)

Article 28 - Reservations

Reservation Formulated for Scope of Arbitration

Pursuant to Article 28(2)(a) of the Convention, Malta has no

reservations with respect to the scope of cases that shall be eligible

for arbitration under the provisions of Part VI.

TREATY RELATED MEASURES TO PREVENT BASE

EROSION AND PROFIT SHIFTING)

Notification of Observation to the Reservation Made by the

Other Contracting Jurisdiction

Pursuant to Article 28(2)(b) of the Convention, Malta is not yet

aware of any reservation and hence will not raise any objections at

this stage.

Article 35 - Entry into Effect

Notification of Choice of Optional Provisions

Pursuant to Article 35(3) of the Convention, solely for the

purpose of its own application of Article 35(1)(b) and (5)(b), Malta

hereby chooses to replace the reference to “taxable periods beginning

on or after the expiration of a period” with reference to “taxable

periods beginning on or after 1 January of the next year beginning on

or after the expiration of a period”.

Article 36 - Entry into Effect of Part VI

Reservation

Pursuant to Article 36(2) of the Convention, Malta reserves the

right for Part VI to apply to a case presented to the competent

authority of a Contracting Jurisdiction prior to the later of the dates on

which the Convention enters into force for each of the Contracting

Jurisdictions to the Covered Tax Agreement only to the extent that the

competent authorities of both Contracting Jurisdictions agree that it

will apply to that specific case.

Notification of Mutual Agreement on Entry into Effect with

respect to Cases Prior to Entry into Force of the Convention

To date Malta has not reached any such mutual agreements pursuant to

Article 19(10) with the competent authorities of other Contracting

Jurisdictions.

With respect to Covered Tax Agreements for which one

or more Parties has made the reservation described in subparagraph a)

of paragraph 3 of Article 11 (Application of Tax Agreements to

Restrict a Party’s Right to Tax its Own Residents), the following

sentence will be added at the end of paragraph 1: "In no case shall the

provisions of this paragraph be construed to affect a Contracting

Jurisdiction’s right to tax the residents of that Contracting

Jurisdiction.".

Paragraph 1 (as it may be modified by paragraph 3) shall

apply in place of or in the absence of provisions of a Covered Tax

Agreement to the extent that they address whether income derived by

or through entities or arrangements that are treated as fiscally

transparent under the tax law of either Contracting Jurisdiction

(whether through a general rule or by identifying in detail the

treatment of specific fact patterns and types of entities or

arrangements) shall be treated as income of a resident of a Contracting

TREATY RELATED MEASURES TO PREVENT BASE

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Jurisdiction.

A Party may reserve the right

a)

for the entirety of this Article not to apply to its

Covered Tax Agreements;

b)

for paragraph 1 not to apply to its Covered Tax

Agreements that already contain a provision described in

paragraph 4;

c)

for paragraph 1 not to apply to its Covered Tax

Agreements that already contain a provision described in

paragraph 4 which denies treaty benefits in the case of income

derived by or through an entity or arrangement established in a

third jurisdiction;

d)

for paragraph 1 not to apply to its Covered Tax

Agreements that already contain a provision described in

paragraph 4 which identifies in detail the treatment of specific

fact patterns and types of entities or arrangements;

e)

for paragraph 1 not to apply to its Covered Tax

Agreements that already contain a provision described in

paragraph 4 which identifies in detail the treatment of specific

fact patterns and types of entities or arrangements and denies

treaty benefits in the case of income derived by or through an

entity or arrangement established in a third jurisdiction;

f)

for paragraph 2 not to apply to its Covered Tax

Agreements;

g)

for paragraph 1 to apply only to its Covered Tax

Agreements that already contain a provision described in

paragraph 4 which identifies in detail the treatment of specific

fact patterns and types of entities or arrangements.

Each Party that has not made a reservation described in

subparagraph a) or b) of paragraph 5 shall notify the Depositary of

whether each of its Covered Tax Agreements contains a provision

described in paragraph 4 that is not subject to a reservation under

subparagraphs c) through e) of paragraph 5, and if so, the article and

paragraph number of each such provision. In the case of a Party that

has made the reservation described in subparagraph g) of paragraph

5, the notification pursuant to the preceding sentence shall be limited

to Covered Tax Agreements that are subject to that reservation.

Where all Contracting Jurisdictions have made such a notification

with respect to a provision of a Covered Tax Agreement, that

provision shall be replaced by the provisions of paragraph 1 (as it

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may be modified by paragraph 3) to the extent provided in paragraph

4. In other cases, paragraph 1 (as it may be modified by paragraph 3)

shall supersede the provisions of the Covered Tax Agreement only to

the extent that those provisions are incompatible with paragraph 1 (as

it may be modified by paragraph 3).

Article 4 - Dual Resident Entities

1. Where by reason of the provisions of a Covered Tax

Agreement a person other than an individual is a resident of more than

one Contracting Jurisdiction, the competent authorities of the

Contracting Jurisdictions shall endeavour to determine by mutual

agreement the Contracting Jurisdiction of which such person shall be

deemed to be a resident for the purposes of the Covered Tax

Agreement, having regard to its place of effective management, the

place where it is incorporated or otherwise constituted and any other

relevant factors. In the absence of such agreement, such person shall

not be entitled to any relief or exemption from tax provided by the

Covered Tax Agreement except to the extent and in such manner as

may be agreed upon by the competent authorities of the Contracting

Jurisdictions.

2. Paragraph 1 shall apply in place of or in the absence of

provisions of a Covered Tax Agreement that provide rules for

determining whether a person other than an individual shall be treated

as a resident of one of the Contracting Jurisdictions in cases in which

that person would otherwise be treated as a resident of more than one

Contracting Jurisdiction. Paragraph 1 shall not apply, however, to

provisions of a Covered Tax Agreement specifically addressing the

residence of companies participating in dual-listed company

arrangements.

3. A Party may reserve the right

a)

for the entirety of this Article not to apply to its

Covered Tax Agreements;

b)

for the entirety of this Article not to apply to its

Covered Tax Agreements that already address cases where a

person other than an individual is a resident of more than one

Contracting Jurisdiction by requiring the competent authorities

of the Contracting Jurisdictions to endeavour to reach mutual

agreement on a single Contracting Jurisdiction of residence;

c)

for the entirety of this Article not to apply to its

Covered Tax Agreements that already address cases where a

person other than an individual is a resident of more than one

Contracting Jurisdiction by denying treaty benefits without

requiring the competent authorities of the Contracting

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Jurisdictions to endeavour to reach mutual agreement on a

single Contracting Jurisdiction of residence;

d)

for the entirety of this Article not to apply to its

Covered Tax Agreements that already address cases where a

person other than an individual is a resident of more than one

Contracting Jurisdiction by requiring the competent authorities

of the Contracting Jurisdictions to endeavour to reach mutual

agreement on a single Contracting Jurisdiction of residence,

and that set out the treatment of that person under the Covered

Tax Agreement where such an agreement cannot be reached;

e)

to replace the last sentence of paragraph 1 with

the following text for the purposes of its Covered Tax

Agreements: "In the absence of such agreement, such person

shall not be entitled to any relief or exemption from tax

provided by the Covered Tax Agreement.";

f)

for the entirety of this Article not to apply to its

Covered Tax Agreements with Parties that have made the

reservation described in subparagraph e).

4. Each Party that has not made a reservation described in

subparagraph a) of paragraph 3 shall notify the Depositary of whether

each of its Covered Tax Agreements contains a provision described in

paragraph 2 that is not subject to a reservation under subparagraphs

b) through d) of paragraph 3, and if so, the article and paragraph

number of each such provision. Where all Contracting Jurisdictions

have made such a notification with respect to a provision of a

Covered Tax Agreement, that provision shall be replaced by the

provisions of paragraph 1. In other cases, paragraph 1 shall supersede

the provisions of the Covered Tax Agreement only to the extent that

those provisions are incompatible with paragraph 1.

Article 5 - Application of Methods for Elimination of Double

Taxation

1. A Party may choose to apply either paragraphs 2 and 3

(Option A), paragraphs 4 and 5 (Option B), or paragraphs 6 and 7

(Option C), or may choose to apply none of the Options. Where each

Contracting Jurisdiction to a Covered Tax Agreement chooses a

different Option (or where one Contracting Jurisdiction chooses to

apply an Option and the other chooses to apply none of the Options),

the Option chosen by each Contracting Jurisdiction shall apply with

respect to its own residents.

Option A

2. Provisions of a Covered Tax Agreement that would

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otherwise exempt income derived or capital owned by a resident of a

Contracting Jurisdiction from tax in that Contracting Jurisdiction for

the purpose of eliminating double taxation shall not apply where the

other Contracting Jurisdiction applies the provisions of the Covered

Tax Agreement to exempt such income or capital from tax or to limit

the rate at which such income or capital may be taxed. In the latter

case, the first-mentioned Contracting Jurisdiction shall allow as a

deduction from the tax on the income or capital of that resident an

amount equal to the tax paid in that other Contracting Jurisdiction.

Such deduction shall not, however, exceed that part of the tax, as

computed before the deduction is given, which is attributable to such

items of income or capital which may be taxed in that other

Contracting Jurisdiction.

3. Paragraph 2 shall apply to a Covered Tax Agreement that

would otherwise require a Contracting Jurisdiction to exempt income

or capital described in that paragraph.

Option B

4. Provisions of a Covered Tax Agreement that would

otherwise exempt income derived by a resident of a Contracting

Jurisdiction from tax in that Contracting Jurisdiction for the purpose

of eliminating double taxation because such income is treated as a

dividend by that Contracting Jurisdiction shall not apply where such

income gives rise to a deduction for the purpose of determining the

taxable profits of a resident of the other Contracting Jurisdiction under

the laws of that other Contracting Jurisdiction. In such case, the first-

mentioned Contracting Jurisdiction shall allow as a deduction from

the tax on the income of that resident an amount equal to the income

tax paid in that other Contracting Jurisdiction. Such deduction shall

not, however, exceed that part of the income tax, as computed before

the deduction is given, which is attributable to such income which

may be taxed in that other Contracting Jurisdiction.

5. Paragraph 4 shall apply to a Covered Tax Agreement that

would otherwise require a Contracting Jurisdiction to exempt income

described in that paragraph.

Option C

6. a)

Where a resident of a Contracting Jurisdiction

derives income or owns capital which may be taxed in the other

Contracting Jurisdiction in accordance with the provisions of a

Covered Tax Agreement (except to the extent that these provisions

allow taxation by that other Contracting Jurisdiction solely because

the income is also income derived by a resident of that other

Contracting Jurisdiction), the first-mentioned Contracting Jurisdiction

shall allow

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i)

as a deduction from the tax on the income of that

resident, an amount equal to the income tax paid in that other

Contracting Jurisdiction;

ii)

as a deduction from the tax on the capital of that

resident, an amount equal to the capital tax paid in that other

Contracting Jurisdiction.

Such deduction shall not, however, exceed that

part of the income tax or capital tax, as computed before the

deduction is given, which is attributable to the income or the capital

which may be taxed in that other Contracting Jurisdiction.

b)

Where in accordance with any provision of the

Covered Tax Agreement income derived or capital owned by a

resident of a Contracting Jurisdiction is exempt from tax in that

Contracting Jurisdiction, such Contracting Jurisdiction may

nevertheless, in calculating the amount of tax on the remaining

income or capital of such resident, take into account the exempted

income or capital.

Paragraph 6 shall apply in place of provisions of a

Covered Tax Agreement that, for purposes of eliminating double

taxation, require a Contracting Jurisdiction to exempt from tax in that

Contracting Jurisdiction income derived or capital owned by a

resident of that Contracting Jurisdiction which, in accordance with

the provisions of the Covered Tax Agreement, may be taxed in the

other Contracting Jurisdiction.

A Party that does not choose to apply an Option under

paragraph 1 may reserve the right for the entirety of this Article not to

apply with respect to one or more identified Covered Tax Agreements

(or with respect to all of its Covered Tax Agreements).

A Party that does not choose to apply Option C may

reserve the right, with respect to one or more identified Covered Tax

Agreements (or with respect to all of its Covered Tax Agreements),

not to permit the other Contracting Jurisdiction(s) to apply Option C.

Each Party that chooses to apply an Option under

paragraph 1 shall notify the Depositary of its choice of Option. Such

notification shall also include

a)

in the case of a Party that chooses to apply

Option A, the list of its Covered Tax Agreements which

contain a provision described in paragraph 3, as well as the

article and paragraph number of each such provision;

b)

in the case of a Party that chooses to apply

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Option B, the list of its Covered Tax Agreements which contain

a provision described in paragraph 5, as well as the article and

paragraph number of each such provision;

c)

in the case of a Party that chooses to apply

Option C, the list of its Covered Tax Agreements which contain

a provision described in paragraph 7, as well as the article and

paragraph number of each such provision.

An Option shall apply with respect to a provision of a Covered

Tax Agreement only where the Party that has chosen to apply that

Option has made such a notification with respect to that provision.

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 text

"Intending to eliminate double taxation with respect to

the taxes covered by this agreement without creating

opportunities for non-taxation or reduced taxation through tax

evasion or avoidance (including through treaty-shopping

arrangements aimed at obtaining reliefs provided in this

agreement for the indirect benefit of residents of third

jurisdictions),".

2. The text described in paragraph 1 shall be included in a

Covered Tax Agreement in place of or in the absence of preamble

language of the Covered Tax Agreement referring to an intent to

eliminate double taxation, whether or not that language also refers to

the intent not to create opportunities for non-taxation or reduced

taxation.

3. A Party may also choose to include the following

preamble text with respect to its Covered Tax Agreements that do not

contain preamble language referring to a desire to develop an

economic relationship or to enhance co-operation in tax matters

"Desiring to further develop their economic relationship

and to enhance their co-operation in tax matters,".

4. A Party may reserve the right for paragraph 1 not to

apply to its Covered Tax Agreements that already contain preamble

language describing the intent of the Contracting Jurisdictions to

eliminate double taxation without creating opportunities for non-

taxation or reduced taxation, whether that language is limited to cases

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of tax evasion or avoidance (including through treaty-shopping

arrangements aimed at obtaining reliefs provided in the Covered Tax

Agreement for the indirect benefit of residents of third jurisdictions)

or applies more broadly.

5. Each Party shall notify the Depositary of whether each

of its Covered Tax Agreements, other than those that are within the

scope of a reservation under paragraph 4, contains preamble language

described in paragraph 2, and if so, the text of the relevant

preambular paragraph. Where all Contracting Jurisdictions have

made such a notification with respect to that preamble language, such

preamble language shall be replaced by the text described in

paragraph 1. In other cases, the text described in paragraph 1 shall be

included in addition to the existing preamble language.

6. Each Party that chooses to apply paragraph 3 shall notify

the Depositary of its choice. Such notification shall also include the

list of its Covered Tax Agreements that do not already contain

preamble language referring to a desire to develop an economic

relationship or to enhance co-operation in tax matters. The text

described in paragraph 3 shall be included in a Covered Tax

Agreement only where all Contracting Jurisdictions have chosen to

apply that paragraph and have made such a notification with respect

to the Covered Tax Agreement.

Article 7 - Prevention of Treaty Abuse

1. Notwithstanding any provisions of a Covered Tax

Agreement, a benefit under the Covered Tax Agreement shall not be

granted in respect of an item of income or capital if it is reasonable to

conclude, having regard to all relevant facts and circumstances, that

obtaining that benefit was one of the principal purposes of any

arrangement or transaction that resulted directly or indirectly in that

benefit, unless it is established that granting that benefit in these

circumstances would be in accordance with the object and purpose of

the relevant provisions of the Covered Tax Agreement.

2. Paragraph 1 shall apply in place of or in the absence of

provisions of a Covered Tax Agreement that deny all or part of the

benefits that would otherwise be provided under the Covered Tax

Agreement where the principal purpose or one of the principal

purposes of any arrangement or transaction, or of any person

concerned with an arrangement or transaction, was to obtain those

benefits.

3. A Party that has not made the reservation described in

subparagraph a) of paragraph 15 may also choose to apply paragraph

4 with respect to its Covered Tax Agreements.

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4. Where a benefit under a Covered Tax Agreement is

denied to a person under provisions of the Covered Tax Agreement (as

it may be modified by this Convention) that deny all or part of the

benefits that would otherwise be provided under the Covered Tax

Agreement where the principal purpose or one of the principal

purposes of any arrangement or transaction, or of any person

concerned with an arrangement or transaction, was to obtain those

benefits, the competent authority of the Contracting Jurisdiction that

would otherwise have granted this benefit shall nevertheless treat that

person as being entitled to this benefit, or to different benefits with

respect to a specific item of income or capital, if such competent

authority, upon request from that person and after consideration of the

relevant facts and circumstances, determines that such benefits would

have been granted to that person in the absence of the transaction or

arrangement. The competent authority of the Contracting Jurisdiction

to which a request has been made under this paragraph by a resident of

the other Contracting Jurisdiction shall consult with the competent

authority of that other Contracting Jurisdiction before rejecting the

request.

5. Paragraph 4 shall apply to provisions of a Covered Tax

Agreement (as it may be modified by this Convention) that deny all or

part of the benefits that would otherwise be provided under the

Covered Tax Agreement where the principal purpose or one of the

principal purposes of any arrangement or transaction, or of any person

concerned with an arrangement or transaction, was to obtain those

benefits.

6. A Party may also choose to apply the provisions

contained in paragraphs 8 through 13 (hereinafter referred to as the

"Simplified Limitation on Benefits Provision") to its Covered Tax

Agreements by making the notification described in subparagraph c)

of paragraph 17. The Simplified Limitation on Benefits Provision

shall apply with respect to a Covered Tax Agreement only where all

Contracting Jurisdictions have chosen to apply it.

7. In cases where some but not all of the Contracting

Jurisdictions to a Covered Tax Agreement choose to apply the

Simplified Limitation on Benefits Provision pursuant to paragraph 6,

then, notwithstanding the provisions of that paragraph, the Simplified

Limitation on Benefits Provision shall apply with respect to the

granting of benefits under the Covered Tax Agreement

a)

by all Contracting Jurisdictions, if all of the

Contracting Jurisdictions that do not choose pursuant to

paragraph 6 to apply the Simplified Limitation on Benefits

Provision agree to such application by choosing to apply this

subparagraph and notifying the Depositary accordingly; or

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b)

only by the Contracting Jurisdictions that choose

to apply the Simplified Limitation on Benefits Provision, if all

of the Contracting Jurisdictions that do not choose pursuant to

paragraph 6 to apply the Simplified Limitation on Benefits

Provision agree to such application by choosing to apply this

subparagraph and notifying the Depositary accordingly.

Simplified Limitation on Benefits Provision

8. Except as otherwise provided in the Simplified

Limitation on Benefits Provision, a resident of a Contracting

Jurisdiction to a Covered Tax Agreement shall not be entitled to a

benefit that would otherwise be accorded by the Covered Tax

Agreement, other than a benefit under provisions of the Covered Tax

Agreement

a)

which determine the residence of a person other

than an individual which is a resident of more than one

Contracting Jurisdiction by reason of provisions of the

Covered Tax Agreement that define a resident of a Contracting

Jurisdiction;

b)

which provide that a Contracting Jurisdiction

will grant to an enterprise of that Contracting Jurisdiction a

corresponding adjustment following an initial adjustment

made by the other Contracting Jurisdiction, in accordance with

the Covered Tax Agreement, to the amount of tax charged in

the first-mentioned Contracting Jurisdiction on the profits of

an associated enterprise; or

c)

which allow residents of a Contracting

Jurisdiction to request that the competent authority of that

Contracting Jurisdiction consider cases of taxation not in

accordance with the Covered Tax Agreement,

unless such resident is a "qualified person", as defined in paragraph 9

at the time that the benefit would be accorded.

9. A resident of a Contracting Jurisdiction to a Covered

Tax Agreement shall be a qualified person at a time when a benefit

would otherwise be accorded by the Covered Tax Agreement if, at

that time, the resident is

a)

an individual;

b)

that Contracting Jurisdiction, or a political

subdivision or local authority thereof, or an agency or

instrumentality of any such Contracting Jurisdiction, political

subdivision or local authority;

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c)

a company or other entity, if the principal class of

its shares is regularly traded on one or more recognised stock

exchanges;

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 through an

exchange of diplomatic notes; or

ii)

is an entity or arrangement established in

that Contracting Jurisdiction that is treated as a separate

person under the taxation laws of that Contracting

Jurisdiction and

A)

that is established and operated

exclusively or almost exclusively to administer

or provide retirement benefits and ancillary or

incidental benefits to individuals and that is

regulated as such by that Contracting

Jurisdiction or one of its political subdivisions

or local authorities; or

B)

that is established and operated

exclusively or almost exclusively to invest

funds for the benefit of entities or arrangements

referred to in subdivision A);

e)

a person other than an individual, if, on at least

half the days of a twelve-month period that includes the time

when the benefit would otherwise be accorded, persons who

are residents of that Contracting Jurisdiction and that are

entitled to benefits of the Covered Tax Agreement under

subparagraphs a) to d) own, directly or indirectly, at least 50

per cent of the shares of the person.

10. a)

A resident of a Contracting Jurisdiction to a

Covered Tax Agreement will be entitled to benefits of the Covered

Tax Agreement with respect to an item of income derived from the

other Contracting Jurisdiction, regardless of whether the resident is a

qualified person, if the resident is engaged in the active conduct of a

business in the first-mentioned Contracting Jurisdiction, and the

income derived from the other Contracting Jurisdiction emanates

from, or is incidental to, that business. For purposes of the Simplified

Limitation on Benefits Provision, the term "active conduct of a

business" shall not include the following activities or any combination

thereof

i)

operating as a holding company;

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ii)

providing overall supervision or administration

of a group of companies;

iii)

providing group financing (including cash

pooling); or

iv)

making or managing investments, unless these

activities are carried on by a bank, insurance company or

registered securities dealer in the ordinary course of its

business as such.

b)

If a resident of a Contracting Jurisdiction to a

Covered Tax Agreement derives an item of income from a business

activity conducted by that resident in the other Contracting

Jurisdiction, or derives an item of income arising in the other

Contracting Jurisdiction from a connected person, the conditions

described in subparagraph a) shall be considered to be satisfied with

respect to such item only if the business activity carried on by the

resident in the first-mentioned Contracting Jurisdiction to which the

item is related is substantial in relation to the same activity or a

complementary business activity carried on by the resident or such

connected person in the other Contracting Jurisdiction. Whether a

business activity is substantial for the purposes of this subparagraph

shall be determined based on all the facts and circumstances.

c)

For purposes of applying this paragraph,

activities conducted by connected persons with respect to a resident

of a Contracting Jurisdiction to a Covered Tax Agreement shall be

deemed to be conducted by such resident.

A resident of a Contracting Jurisdiction to a Covered

Tax Agreement that is not a qualified person shall also be entitled to a

benefit that would otherwise be accorded by the Covered Tax

Agreement with respect to an item of income if, on at least half of the

days of any twelve-month period that includes the time when the

benefit would otherwise be accorded, persons that are equivalent

beneficiaries own, directly or indirectly, at least 75 per cent of the

beneficial interests of the resident.

If a resident of a Contracting Jurisdiction to a Covered

Tax Agreement is neither a qualified person pursuant to the

provisions of paragraph 9, nor entitled to benefits under paragraph 10

or 11, the competent authority of the other Contracting Jurisdiction

may, nevertheless, grant the benefits of the Covered Tax Agreement,

or benefits with respect to a specific item of income, taking into

account the object and purpose of the Covered Tax Agreement, but

only if such resident demonstrates to the satisfaction of such

competent authority that neither its establishment, acquisition or

maintenance, nor the conduct of its operations, had as one of its

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principal purposes the obtaining of benefits under the Covered Tax

Agreement. Before either granting or denying a request made under

this paragraph by a resident of a Contracting Jurisdiction, the

competent authority of the other Contracting Jurisdiction to which the

request has been made shall consult with the competent authority of

the first-mentioned Contracting Jurisdiction.

For the purposes of the Simplified Limitation on Benefits

Provision

a)

the term "recognised stock exchange" means

i)

any stock exchange established and

regulated as such under the laws of either Contracting

Jurisdiction; and

ii)

any other stock exchange agreed upon by

the competent authorities of the Contracting

Jurisdictions;

b)

the term "principal class of shares" means the

class or classes of shares of a company which represents the

majority of the aggregate vote and value of the company or the

class or classes of beneficial interests of an entity which

represents in the aggregate a majority of the aggregate vote and

value of the entity;

c)

the term "equivalent beneficiary" means any

person who would be entitled to benefits with respect to an

item of income accorded by a Contracting Jurisdiction to a

Covered Tax Agreement under the domestic law of that

Contracting Jurisdiction, the Covered Tax Agreement or any

other international instrument which are equivalent to, or more

favourable than, benefits to be accorded to that item of income

under the Covered Tax Agreement; for the purposes of

determining whether a person is an equivalent beneficiary with

respect to dividends, the person shall be deemed to hold the

same capital of the company paying the dividends as such

capital the company claiming the benefit with respect to the

dividends holds;

d)

with respect to entities that are not companies,

the term "shares" means interests that are comparable to shares;

e)

two persons shall be "connected persons" if one

owns, directly or indirectly, at least 50 per cent of the beneficial

interest in the other (or, in the case of a company, at least 50 per

cent of the aggregate vote and value of the company’s shares)

or another person owns, directly or indirectly, at least 50 per

cent of the beneficial interest (or, in the case of a company, at

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least 50 per cent of the aggregate vote and value of the

company’s shares) in each person; in any case, a person shall

be connected to another if, based on all the relevant facts and

circumstances, one has control of the other or both are under

the control of the same person or persons.

The Simplified Limitation on Benefits Provision shall

apply in place of or in the absence of provisions of a Covered Tax

Agreement that would limit the benefits of the Covered Tax

Agreement (or that would limit benefits other than a benefit under the

provisions of the Covered Tax Agreement relating to residence,

associated enterprises or non-discrimination or a benefit that is not

restricted solely to residents of a Contracting Jurisdiction) only to a

resident that qualifies for such benefits by meeting one or more

categorical tests.

A Party may reserve the right

a)

for paragraph 1 not to apply to its Covered Tax

Agreements on the basis that it intends to adopt a combination

of a detailed limitation on benefits provision and either rules to

address conduit financing structures or a principal purpose

test, thereby meeting the minimum standard for preventing

treaty abuse under the OECD/G20 BEPS package; in such

cases, the Contracting Jurisdictions shall endeavour to reach a

mutually satisfactory solution which meets the minimum

standard;

b)

for paragraph 1 (and paragraph 4, in the case of a

Party that has chosen to apply that paragraph) not to apply to

its Covered Tax Agreements that already contain provisions

that deny all of the benefits that would otherwise be provided

under the Covered Tax Agreement where the principal purpose

or one of the principal purposes of any arrangement or

transaction, or of any person concerned with an arrangement

or transaction, was to obtain those benefits;

c)

for the Simplified Limitation on Benefits

Provision not to apply to its Covered Tax Agreements that

already contain the provisions described in paragraph 14.

Except where the Simplified Limitation on Benefits

Provision applies with respect to the granting of benefits under a

Covered Tax Agreement by one or more Parties pursuant to

paragraph 7, a Party that chooses pursuant to paragraph 6 to apply the

Simplified Limitation on Benefits Provision may reserve the right for

the entirety of this Article not to apply with respect to its Covered

Tax Agreements for which one or more of the other Contracting

Jurisdictions has not chosen to apply the Simplified Limitation on

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Benefits Provision. In such cases, the Contracting Jurisdictions shall

endeavour to reach a mutually satisfactory solution which meets the

minimum standard for preventing treaty abuse under the OECD/G20

BEPS package.

a)

Each Party that has not made the reservation

described in subparagraph a) of paragraph 15 shall notify the

Depositary of whether each of its Covered Tax Agreements that is not

subject to a reservation described in subparagraph b) of paragraph 15

contains a provision described in paragraph 2, and if so, the article and

paragraph number of each such provision. Where all Contracting

Jurisdictions have made such a notification with respect to a provision

of a Covered Tax Agreement, that provision shall be replaced by the

provisions of paragraph 1 (and where applicable, paragraph 4). In

other cases, paragraph 1 (and where applicable, paragraph 4) shall

supersede the provisions of the Covered Tax Agreement only to the

extent that those provisions are incompatible with paragraph 1 (and

where applicable, paragraph 4). A Party making a notification under

this subparagraph may also include a statement that while such Party

accepts the application of paragraph 1 alone as an interim measure, it

intends where possible to adopt a limitation on benefits provision, in

addition to or in replacement of paragraph 1, through bilateral

negotiation.

b)

Each Party that chooses to apply paragraph 4

shall notify the Depositary of its choice. Paragraph 4 shall apply to a

Covered Tax Agreement only where all Contracting Jurisdictions have

made such a notification.

c)

Each Party that chooses to apply the Simplified

Limitation on Benefits Provision pursuant to paragraph 6 shall notify

the Depositary of its choice. Unless such Party has made the

reservation described in subparagraph c) of paragraph 15, such

notification shall also include the list of its Covered Tax Agreements

which contain a provision described in paragraph 14, as well as the

article and paragraph number of each such provision.

d)

Each Party that does not choose to apply the

Simplified Limitation on Benefits Provision pursuant to paragraph 6,

but chooses to apply either subparagraph a) or b) of paragraph 7 shall

notify the Depositary of its choice of subparagraph. Unless such Party

has made the reservation described in subparagraph c) of paragraph

15, such notification shall also include the list of its Covered Tax

Agreements which contain a provision described in paragraph 14, as

well as the article and paragraph number of each such provision.

e)

Where all Contracting Jurisdictions have made a

notification under subparagraph c) or d) with respect to a provision of

a Covered Tax Agreement, that provision shall be replaced by the

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Simplified Limitation on Benefits Provision. In other cases, the

Simplified Limitation on Benefits Provision shall supersede the

provisions of the Covered Tax Agreement only to the extent that

those provisions are incompatible with the Simplified Limitation on

Benefits Provision.

Article 8 - Dividend Transfer Transactions

1. Provisions of a Covered Tax Agreement that exempt

dividends paid by a company which is a resident of a Contracting

Jurisdiction from tax or that limit the rate at which such dividends

may be taxed, provided that the beneficial owner or the recipient is a

company which is a resident of the other Contracting Jurisdiction and

which owns, holds or controls more than a certain amount of the

capital, shares, stock, voting power, voting rights or similar

ownership interests of the company paying the dividends, shall apply

only if the ownership conditions described in those provisions are

met throughout a 365 day period that includes the day of the payment

of the dividends (for the purpose of computing that period, no

account shall be taken of changes of ownership that would directly

result from a corporate reorganisation, such as a merger or divisive

reorganisation, of the company that holds the shares or that pays the

dividends).

2. The minimum holding period provided in paragraph 1

shall apply in place of or in the absence of a minimum holding period

in provisions of a Covered Tax Agreement described in paragraph 1.

3. A Party may reserve the right

a)

for the entirety of this Article not to apply to its

Covered Tax Agreements;

b)

for the entirety of this Article not to apply to its

Covered Tax Agreements to the extent that the provisions

described in paragraph 1 already include

i)

a minimum holding period;

ii)

a minimum holding period shorter than a

365 day period; or

iii)

a minimum holding period longer than a

365 day period.

4. Each Party that has not made a reservation described in

subparagraph a) of paragraph 3 shall notify the Depositary of whether

each of its Covered Tax Agreements contains a provision described in

paragraph 1 that is not subject to a reservation described in

subparagraph b) of paragraph 3, and if so, the article and paragraph

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number of each such provision. Paragraph 1 shall apply with respect

to a provision of a Covered Tax Agreement only where all Contracting

Jurisdictions have made such a notification with respect to that

provision.

Article 9 - Capital Gains from Alienation of Shares or Interests

of Entities Deriving their Value Principally from Immovable Property

1. Provisions of a Covered Tax Agreement providing that

gains derived by a resident of a Contracting Jurisdiction from the

alienation of shares or other rights of participation in an entity may be

taxed in the other Contracting Jurisdiction provided that these shares

or rights derived more than a certain part of their value from

immovable property (real property) situated in that other Contracting

Jurisdiction (or provided that more than a certain part of the property

of the entity consists of such immovable property (real property))

a)

shall apply if the relevant value threshold is met

at any time during the 365 days preceding the alienation; and

b)

shall apply to shares or comparable interests,

such as interests in a partnership or trust (to the extent that such

shares or interests are not already covered) in addition to any

shares or rights already covered by the provisions.

2. The period provided in subparagraph a) of paragraph 1

shall apply in place of or in the absence of a time period for

determining whether the relevant value threshold in provisions of a

Covered Tax Agreement described in paragraph 1 was met.

3. A Party may also choose to apply paragraph 4 with

respect to its Covered Tax Agreements.

4. For purposes of a Covered Tax Agreement, gains derived

by a resident of a Contracting Jurisdiction from the alienation of

shares or comparable interests, such as interests in a partnership or

trust, may be taxed in the other Contracting Jurisdiction if, at any time

during the 365 days preceding the alienation, these shares or

comparable interests derived more than 50 per cent of their value

directly or indirectly from immovable property (real property)

situated in that other Contracting Jurisdiction.

5. Paragraph 4 shall apply in place of or in the absence of

provisions of a Covered Tax Agreement providing that gains derived

by a resident of a Contracting Jurisdiction from the alienation of

shares or other rights of participation in an entity may be taxed in the

other Contracting Jurisdiction provided that these shares or rights

derived more than a certain part of their value from immovable

property (real property) situated in that other Contracting Jurisdiction,

or provided that more than a certain part of the property of the entity

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consists of such immovable property (real property).

6. A Party may reserve the right

a)

for paragraph 1 not to apply to its Covered Tax

Agreements;

b)

for subparagraph a) of paragraph 1 not to apply

to its Covered Tax Agreements;

c)

for subparagraph b) of paragraph 1 not to apply

to its Covered Tax Agreements;

d)

for subparagraph a) of paragraph 1 not to apply

to its Covered Tax Agreements that already contain a provision

of the type described in paragraph 1 that includes a period for

determining whether the relevant value threshold was met;

e)

for subparagraph b) of paragraph 1 not to apply

to its Covered Tax Agreements that already contain a provision

of the type described in paragraph 1 that applies to the

alienation of interests other than shares;

f)

for paragraph 4 not to apply to its Covered Tax

Agreements that already contain the provisions described in

paragraph 5.

7. Each Party that has not made the reservation described

in subparagraph a) of paragraph 6 shall notify the Depositary of

whether each of its Covered Tax Agreements contains a provision

described in paragraph 1, and if so, the article and paragraph number

of each such provision. Paragraph 1 shall apply with respect to a

provision of a Covered Tax Agreement only where all Contracting

Jurisdictions have made a notification with respect to that provision.

8. Each Party that chooses to apply paragraph 4 shall notify

the Depositary of its choice. Paragraph 4 shall apply to a Covered Tax

Agreement only where all Contracting Jurisdictions have made such

a notification. In such case, paragraph 1 shall not apply with respect

to that Covered Tax Agreement. In the case of a Party that has not

made the reservation described in subparagraph f) of paragraph 6 and

has made the reservation described in subparagraph a) of paragraph

6, such notification shall also include the list of its Covered Tax

Agreements which contain a provision described in paragraph 5, as

well as the article and paragraph number of each such provision.

Where all Contracting Jurisdictions have made a notification with

respect to a provision of a Covered Tax Agreement under this

paragraph or paragraph 7, that provision shall be replaced by the

provisions of paragraph 4. In other cases, paragraph 4 shall supersede

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the provisions of the Covered Tax Agreement only to the extent that

those provisions are incompatible with paragraph 4.

Article 10 - Anti-abuse Rule for Permanent Establishments

Situated in Third Jurisdictions

1. Where

a)

an enterprise of a Contracting Jurisdiction to a

Covered Tax Agreement derives income from the other

Contracting Jurisdiction and the first-mentioned Contracting

Jurisdiction treats such income as attributable to a permanent

establishment of the enterprise situated in a third jurisdiction;

and

b)

the profits attributable to that permanent

establishment are exempt from tax in the first-mentioned

Contracting Jurisdiction,

the benefits of the Covered Tax Agreement shall not apply to any item

of income on which the tax in the third jurisdiction is less than 60 per

cent of the tax that would be imposed in the first-mentioned

Contracting Jurisdiction on that item of income if that permanent

establishment were situated in the first-mentioned Contracting

Jurisdiction. In such a case, any income to which the provisions of this

paragraph apply shall remain taxable according to the domestic law of

the other Contracting Jurisdiction, notwithstanding any other

provisions of the Covered Tax Agreement.

2. Paragraph 1 shall not apply if the income derived from

the other Contracting Jurisdiction described in paragraph 1 is derived

in connection with or is incidental to the active conduct of a business

carried on through the permanent establishment (other than the

business of making, managing or simply holding investments for the

enterprise’s own account, unless these activities are banking,

insurance or securities activities carried on by a bank, insurance

enterprise or registered securities dealer, respectively).

3. If benefits under a Covered Tax Agreement are denied

pursuant to paragraph 1 with respect to an item of income derived by a

resident of a Contracting Jurisdiction, the competent authority of the

other Contracting Jurisdiction may, nevertheless, grant these benefits

with respect to that item of income if, in response to a request by such

resident, such competent authority determines that granting such

benefits is justified in light of the reasons such resident did not satisfy

the requirements of paragraphs 1 and 2. The competent authority of

the Contracting Jurisdiction to which a request has been made under

the preceding sentence by a resident of the other Contracting

Jurisdiction shall consult with the competent authority of that other

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Contracting Jurisdiction before either granting or denying the

request.

4. Paragraphs 1 through 3 shall apply in place of or in the

absence of provisions of a Covered Tax Agreement that deny or limit

benefits that would otherwise be granted to an enterprise of a

Contracting Jurisdiction which derives income from the other

Contracting Jurisdiction that is attributable to a permanent

establishment of the enterprise situated in a third jurisdiction.

5. A Party may reserve the right

a)

for the entirety of this Article not to apply to its

Covered Tax Agreements;

b)

for the entirety of this Article not to apply to its

Covered Tax Agreements that already contain the provisions

described in paragraph 4;

c)

for this Article to apply only to its Covered Tax

Agreements that already contain the provisions described in

paragraph 4.

6. Each Party that has not made the reservation described

in subparagraph a) or b) of paragraph 5 shall notify the Depositary of

whether each of its Covered Tax Agreements contains a provision

described in paragraph 4, and if so, the article and paragraph number

of each such provision. Where all Contracting Jurisdictions have

made such a notification with respect to a provision of a Covered Tax

Agreement, that provision shall be replaced by the provisions of

paragraphs 1 through 3. In other cases, paragraphs 1 through 3 shall

supersede the provisions of the Covered Tax Agreement only to the

extent that those provisions are incompatible with those paragraphs.

Article 11 - Application of Tax Agreements to Restrict a Party’s

Right to Tax its Own Residents

1. A Covered Tax Agreement shall not affect the taxation

by a Contracting Jurisdiction of its residents, except with respect to

the benefits granted under provisions of the Covered Tax Agreement

a)

which require that Contracting Jurisdiction to

grant to an enterprise of that Contracting Jurisdiction a

correlative or corresponding adjustment following an initial

adjustment made by the other Contracting Jurisdiction, in

accordance with the Covered Tax Agreement, to the amount of

tax charged in the first-mentioned Contracting Jurisdiction on

the profits of a permanent establishment of the enterprise or

the profits of an associated enterprise;

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b)

which may affect how that Contracting

Jurisdiction taxes an individual who is a resident of that

Contracting Jurisdiction if that individual derives income in

respect of services rendered to the other Contracting

Jurisdiction or a political subdivision or local authority or other

comparable body thereof;

c)

which may affect how that Contracting

Jurisdiction taxes an individual who is a resident of that

Contracting Jurisdiction if that individual is also a student,

business apprentice or trainee, or a teacher, professor, lecturer,

instructor, researcher or research scholar who meets the

conditions of the Covered Tax Agreement;

d)

which require that Contracting Jurisdiction to

provide a tax credit or tax exemption to residents of that

Contracting Jurisdiction with respect to the income that the

other Contracting Jurisdiction may tax in accordance with the

Covered Tax Agreement (including profits that are attributable

to a permanent establishment situated in that other Contracting

Jurisdiction in accordance with the Covered Tax Agreement);

e)

which protect residents of that Contracting

Jurisdiction against certain discriminatory taxation practices by

that Contracting Jurisdiction;

f)

which allow residents of that Contracting

Jurisdiction to request that the competent authority of that or

either Contracting Jurisdiction consider cases of taxation not in

accordance with the Covered Tax Agreement;

g)

which may affect how that Contracting

Jurisdiction taxes an individual who is a resident of that

Contracting Jurisdiction when that individual is a member of a

diplomatic mission, government mission or consular post of the

other Contracting Jurisdiction;

h)

which provide that pensions or other payments

made under the social security legislation of the other

Contracting Jurisdiction shall be taxable only in that other

Contracting Jurisdiction;

i)

which provide that pensions and similar

payments, annuities, alimony payments or other maintenance

payments arising in the other Contracting Jurisdiction shall be

taxable only in that other Contracting Jurisdiction; or

j)

which otherwise expressly limit a Contracting

Jurisdiction’s right to tax its own residents or provide expressly

that the Contracting Jurisdiction in which an item of income

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arises has the exclusive right to tax that item of income.

2. Paragraph 1 shall apply in place of or in the absence of

provisions of a Covered Tax Agreement stating that the Covered Tax

Agreement would not affect the taxation by a Contracting

Jurisdiction of its residents.

3. A Party may reserve the right

a)

for the entirety of this Article not to apply to its

Covered Tax Agreements;

b)

for the entirety of this Article not to apply to its

Covered Tax Agreements that already contain the provisions

described in paragraph 2.

4. Each Party that has not made the reservation described

in subparagraph a) or b) of paragraph 3 shall notify the Depositary of

whether each of its Covered Tax Agreements contains a provision

described in paragraph 2, and if so, the article and paragraph number

of each such provision. Where all Contracting Jurisdictions have

made such a notification with respect to a provision of a Covered Tax

Agreement, that provision shall be replaced by the provisions of

paragraph 1. In other cases, paragraph 1 shall supersede the

provisions of the Covered Tax Agreement only to the extent that

those provisions are incompatible with paragraph 1.

PART IV

AVOIDANCE OF PERMANENT ESTABLISHMENT STATUS

Article 12 - Artificial Avoidance of Permanent Establishment

Status through Commissionnaire Arrangements and Similar

Strategies

1. Notwithstanding the provisions of a Covered Tax

Agreement that define the term "permanent establishment", but

subject to paragraph 2, where a person is acting in a Contracting

Jurisdiction to a Covered Tax Agreement on behalf of an enterprise

and, in doing so, habitually concludes contracts, or habitually plays

the principal role leading to the conclusion of contracts that are

routinely concluded without material modification by the enterprise,

and these contracts are

a)

in the name of the enterprise; or

b)

for the transfer of the ownership of, or for the

granting of the right to use, property owned by that enterprise

or that the enterprise has the right to use; or

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c)

for the provision of services by that enterprise,

that enterprise shall be deemed to have a permanent establishment in

that Contracting Jurisdiction in respect of any activities which that

person undertakes for the enterprise unless these activities, if they

were exercised by the enterprise through a fixed place of business of

that enterprise situated in that Contracting Jurisdiction, would not

cause that fixed place of business to be deemed to constitute a

permanent establishment under the definition of permanent

establishment included in the Covered Tax Agreement (as it may be

modified by this Convention).

2. Paragraph 1 shall not apply where the person acting in a

Contracting Jurisdiction to a Covered Tax Agreement on behalf of an

enterprise of the other Contracting Jurisdiction carries on business in

the first-mentioned Contracting Jurisdiction as an independent agent

and acts for the enterprise in the ordinary course of that business.

Where, however, a person acts exclusively or almost exclusively on

behalf of one or more enterprises to which it is closely related, that

person shall not be considered to be an independent agent within the

meaning of this paragraph with respect to any such enterprise.

3. a)

Paragraph 1 shall apply in place of provisions of

a Covered Tax Agreement that describe the conditions under which an

enterprise shall be deemed to have a permanent establishment in a

Contracting Jurisdiction (or a person shall be deemed to be a

permanent establishment in a Contracting Jurisdiction) in respect of

an activity which a person other than an agent of an independent

status undertakes for the enterprise, but only to the extent that such

provisions address the situation in which such person has, and

habitually exercises, in that Contracting Jurisdiction an authority to

conclude contracts in the name of the enterprise.

b)

Paragraph 2 shall apply in place of provisions of

a Covered Tax Agreement that provide that an enterprise shall not be

deemed to have a permanent establishment in a Contracting

Jurisdiction in respect of an activity which an agent of an independent

status undertakes for the enterprise.

4. A Party may reserve the right for the entirety of this

Article not to apply to its Covered Tax Agreements.

5. Each Party that has not made a reservation described in

paragraph 4 shall notify the Depositary of whether each of its Covered

Tax Agreements contains a provision described in subparagraph a) of

paragraph 3, as well as the article and paragraph number of each such

provision. Paragraph 1 shall apply with respect to a provision of a

Covered Tax Agreement only where all Contracting Jurisdictions have

made a notification with respect to that provision.

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6. Each Party that has not made a reservation described in

paragraph 4 shall notify the Depositary of whether each of its

Covered Tax Agreements contains a provision described in

subparagraph b) of paragraph 3, as well as the article and paragraph

number of each such provision. Paragraph 2 shall apply with respect

to a provision of a Covered Tax Agreement only where all

Contracting Jurisdictions have made such a notification with respect

to that provision.

Article 13 - Artificial Avoidance of Permanent Establishment

Status through the Specific Activity Exemptions

1. A Party may choose to apply paragraph 2 (Option A) or

paragraph 3 (Option B) or to apply neither Option.

Option A

2. Notwithstanding the provisions of a Covered Tax

Agreement that define the term "permanent establishment", the term

"permanent establishment" shall be deemed not to include

a)

the activities specifically listed in the Covered

Tax Agreement (prior to modification by this Convention) as

activities deemed not to constitute a permanent establishment,

whether or not that exception from permanent establishment

status is contingent on the activity being of a preparatory or

auxiliary character;

b)

the maintenance of a fixed place of business

solely for the purpose of carrying on, for the enterprise, any

activity not described in subparagraph a);

c)

the maintenance of a fixed place of business

solely for any combination of activities mentioned in

subparagraphs a) and b),

provided that such activity or, in the case of subparagraph c), the

overall activity of the fixed place of business, is of a preparatory or

auxiliary character.

Option B

3. Notwithstanding the provisions of a Covered Tax

Agreement that define the term "permanent establishment", the term

"permanent establishment" shall be deemed not to include

a)

the activities specifically listed in the Covered

Tax Agreement (prior to modification by this Convention) as

activities deemed not to constitute a permanent establishment,

whether or not that exception from permanent establishment

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status is contingent on the activity being of a preparatory or

auxiliary character, except to the extent that the relevant

provision of the Covered Tax Agreement provides explicitly

that a specific activity shall be deemed not to constitute a

permanent establishment provided that the activity is of a

preparatory or auxiliary character;

b)

the maintenance of a fixed place of business

solely for the purpose of carrying on, for the enterprise, any

activity not described in subparagraph a), provided that this

activity is of a preparatory or auxiliary character;

c)

the maintenance of a fixed place of business

solely for any combination of activities mentioned in

subparagraphs a) and b), provided that the overall activity of

the fixed place of business resulting from this combination is of

a preparatory or auxiliary character.

4. A provision of a Covered Tax Agreement (as it may be

modified by paragraph 2 or 3) that lists specific activities deemed not

to constitute a permanent establishment shall not apply to a fixed

place of business that is used or maintained by an enterprise if the

same enterprise or a closely related enterprise carries on business

activities at the same place or at another place in the same Contracting

Jurisdiction and

a)

that place or other place constitutes a permanent

establishment for the enterprise or the closely related enterprise

under the provisions of a Covered Tax Agreement defining a

permanent establishment; or

b)

the overall activity resulting from the

combination of the activities carried on by the two enterprises

at the same place, or by the same enterprise or closely related

enterprises at the two places, is not of a preparatory or auxiliary

character,

provided that the business activities carried on by the two enterprises

at the same place, or by the same enterprise or closely related

enterprises at the two places, constitute complementary functions that

are part of a cohesive business operation.

5. a)

Paragraph 2 or 3 shall apply in place of the

relevant parts of provisions of a Covered Tax Agreement that list

specific activities that are deemed not to constitute a permanent

establishment even if the activity is carried on through a fixed place of

business (or provisions of a Covered Tax Agreement that operate in a

comparable manner).

b)

Paragraph 4 shall apply to provisions of a

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Covered Tax Agreement (as they may be modified by paragraph 2 or

3) that list specific activities that are deemed not to constitute a

permanent establishment even if the activity is carried on through a

fixed place of business (or provisions of a Covered Tax Agreement

that operate in a comparable manner).

6. A Party may reserve the right

a)

for the entirety of this Article not to apply to its

Covered Tax Agreements;

b)

for paragraph 2 not to apply to its Covered Tax

Agreements that explicitly state that a list of specific activities

shall be deemed not to constitute a permanent establishment

only if each of the activities is of a preparatory or auxiliary

character;

c)

for paragraph 4 not to apply to its Covered Tax

Agreements.

7. Each Party that chooses to apply an Option under

paragraph 1 shall notify the Depositary of its choice of Option. Such

notification shall also include the list of its Covered Tax Agreements

which contain a provision described in subparagraph a) of paragraph

5, as well as the article and paragraph number of each such provision.

An Option shall apply with respect to a provision of a Covered Tax

Agreement only where all Contracting Jurisdictions have chosen to

apply the same Option and have made such a notification with respect

to that provision.

8. Each Party that has not made a reservation described in

subparagraph a) or c) of paragraph 6 and does not choose to apply an

Option under paragraph 1 shall notify the Depositary of whether each

of its Covered Tax Agreements contains a provision described in

subparagraph b) of paragraph 5, as well as the article and paragraph

number of each such provision. Paragraph 4 shall apply with respect

to a provision of a Covered Tax Agreement only where all

Contracting Jurisdictions have made a notification with respect to

that provision under this paragraph or paragraph 7.

Article 14 - Splitting-up of Contracts

1. For the sole purpose of determining whether the period

(or periods) referred to in a provision of a Covered Tax Agreement

that stipulates a period (or periods) of time after which specific

projects or activities shall constitute a permanent establishment has

been exceeded

a)

where an enterprise of a Contracting Jurisdiction

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carries on activities in the other Contracting Jurisdiction at a

place that constitutes a building site, construction project,

installation project or other specific project identified in the

relevant provision of the Covered Tax Agreement, or carries on

supervisory or consultancy activities in connection with such a

place, in the case of a provision of a Covered Tax Agreement

that refers to such activities, and these activities are carried on

during one or more periods of time that, in the aggregate,

exceed 30 days without exceeding the period or periods

referred to in the relevant provision of the Covered Tax

Agreement; and

b)

where connected activities are carried on in that

other Contracting Jurisdiction at (or, where the relevant

provision of the Covered Tax Agreement applies to supervisory

or consultancy activities, in connection with) the same building

site, construction or installation project, or other place

identified in the relevant provision of the Covered Tax

Agreement during different periods of time, each exceeding 30

days, by one or more enterprises closely related to the first-

mentioned enterprise,

these different periods of time shall be added to the aggregate period

of time during which the first-mentioned enterprise has carried on

activities at that building site, construction or installation project, or

other place identified in the relevant provision of the Covered Tax

Agreement.

2. Paragraph 1 shall apply in place of or in the absence of

provisions of a Covered Tax Agreement to the extent that such

provisions address the division of contracts into multiple parts to

avoid the application of a time period or periods in relation to the

existence of a permanent establishment for specific projects or

activities described in paragraph 1.

3. A Party may reserve the right

a)

for the entirety of this Article not to apply to its

Covered Tax Agreements;

b)

for the entirety of this Article not to apply with

respect to provisions of its Covered Tax Agreements relating to

the exploration for or exploitation of natural resources.

4. Each Party that has not made a reservation described in

subparagraph a) of paragraph 3 shall notify the Depositary of whether

each of its Covered Tax Agreements contains a provision described in

paragraph 2 that is not subject to a reservation under subparagraph b)

of paragraph 3, and if so, the article and paragraph number of each

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such provision. Where all Contracting Jurisdictions have made such a

notification with respect to a provision of a Covered Tax Agreement,

that provision shall be replaced by the provisions of paragraph 1 to

the extent provided in paragraph 2. In other cases, paragraph 1 shall

supersede the provisions of the Covered Tax Agreement only to the

extent that those provisions are incompatible with paragraph 1.

Article 15 - Definition of a Person Closely Related to an

Enterprise

1. For the purposes of the provisions of a Covered Tax

Agreement that are modified by paragraph 2 of Article 12 (Artificial

Avoidance of Permanent Establishment Status through

Commissionnaire Arrangements and Similar Strategies), paragraph 4

of Article 13 (Artificial Avoidance of Permanent Establishment

Status through the Specific Activity Exemptions), or paragraph 1 of

Article 14 (Splitting-up of Contracts), a person is closely related to an

enterprise if, based on all the relevant facts and circumstances, one

has control of the other or both are under the control of the same

persons or enterprises. In any case, a person shall be considered to be

closely related to an enterprise if one possesses directly or indirectly

more than 50 per cent of the beneficial interest in the other (or, in the

case of a company, more than 50 per cent of the aggregate vote and

value of the company’s shares or of the beneficial equity interest in

the company) or if another person possesses directly or indirectly

more than 50 per cent of the beneficial interest (or, in the case of a

company, more than 50 per cent of the aggregate vote and value of

the company’s shares or of the beneficial equity interest in the

company) in the person and the enterprise.

2. A Party that has made the reservations described in

paragraph 4 of Article 12 (Artificial Avoidance of Permanent

Establishment Status through Commissionnaire Arrangements and

Similar Strategies), subparagraph a) or c) of paragraph 6 of Article 13

(Artificial Avoidance of Permanent Establishment Status through the

Specific Activity Exemptions), and subparagraph a) of paragraph 3 of

Article 14 (Splitting-up of Contracts) may reserve the right for the

entirety of this Article not to apply to the Covered Tax Agreements to

which those reservations apply.

PART V

IMPROVING DISPUTE RESOLUTION

Article 16 - Mutual Agreement Procedure

1. Where a person considers that the actions of one or both

of the Contracting Jurisdictions result or will result for that person in

taxation not in accordance with the provisions of the Covered Tax

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Agreement, that person may, irrespective of the remedies provided by

the domestic law of those Contracting Jurisdictions, present the case

to the competent authority of either Contracting Jurisdiction. The case

must be presented within three years from the first notification of the

action resulting in taxation not in accordance with the provisions of

the Covered Tax Agreement.

2. The competent authority shall endeavour, if the objection

appears to it to be justified and if it is not itself able to arrive at a

satisfactory solution, to resolve the case by mutual agreement with the

competent authority of the other Contracting Jurisdiction, with a view

to the avoidance of taxation which is not in accordance with the

Covered Tax Agreement. Any agreement reached shall be

implemented notwithstanding any time limits in the domestic law of

the Contracting Jurisdictions.

3. The competent authorities of the Contracting

Jurisdictions shall endeavour to resolve by mutual agreement any

difficulties or doubts arising as to the interpretation or application of

the Covered Tax Agreement. They may also consult together for the

elimination of double taxation in cases not provided for in the

Covered Tax Agreement.

4. a)

i)

The first sentence of paragraph 1 shall

apply in place of or in the absence of provisions of a Covered Tax

Agreement (or parts thereof) that provide that where a person

considers that the actions of one or both of the Contracting

Jurisdiction result or will result for that person in taxation not in

accordance with the provisions of the Covered Tax Agreement, that

person may, irrespective of the remedies provided by the domestic law

of those Contracting Jurisdictions, present the case to the competent

authority of the Contracting Jurisdiction of which that person is a

resident including provisions under which, if the case presented by

that person comes under the provisions of a Covered Tax Agreement

relating to non-discrimination based on nationality, the case may be

presented to the competent authority of the Contracting Jurisdiction of

which that person is a national.

ii) The second sentence of paragraph 1 shall

apply in place of provisions of a Covered Tax Agreement that provide

that a case referred to in the first sentence of paragraph 1 must be

presented within a specific time period that is shorter than three years

from the first notification of the action resulting in taxation not in

accordance with the provisions of the Covered Tax Agreement, or in

the absence of a provision of a Covered Tax Agreement describing the

time period within which such a case must be presented.

b)

i)

The first sentence of paragraph 2 shall

apply in the absence of provisions of a Covered Tax Agreement that

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provide that the competent authority that is presented with the case

by the person referred to in paragraph 1 shall endeavour, if the

objection appears to it to be justified and if it is not itself able to

arrive at a satisfactory solution, to resolve the case by mutual

agreement with the competent authority of the other Contracting

Jurisdiction, with a view to the avoidance of taxation which is not in

accordance with the Covered Tax Agreement.

ii) The second sentence of paragraph 2 shall

apply in the absence of provisions of a Covered Tax Agreement

providing that any agreement reached shall be implemented

notwithstanding any time limits in the domestic law of the

Contracting Jurisdictions.

c)

i)

The first sentence of paragraph 3 shall

apply in the absence of provisions of a Covered Tax Agreement that

provide that the competent authorities of the Contracting

Jurisdictions shall endeavour to resolve by mutual agreement any

difficulties or doubts arising as to the interpretation or application of

the Covered Tax Agreement.

ii) The second sentence of paragraph 3 shall

apply in the absence of provisions of a Covered Tax Agreement that

provide that the competent authorities of the Contracting

Jurisdictions may also consult together for the elimination of double

taxation in cases not provided for in the Covered Tax Agreement.

5. A Party may reserve the right

a)

for the first sentence of paragraph 1 not to apply

to its Covered Tax Agreements on the basis that it intends to

meet the minimum standard for improving dispute resolution

under the OECD/G20 BEPS Package by ensuring that under

each of its Covered Tax Agreements (other than a Covered Tax

Agreement that permits a person to present a case to the

competent authority of either Contracting Jurisdiction), where

a person considers that the actions of one or both of the

Contracting Jurisdictions result or will result for that person in

taxation not in accordance with the provisions of the Covered

Tax Agreement, irrespective of the remedies provided by the

domestic law of those Contracting Jurisdictions, that person

may present the case to the competent authority of the

Contracting Jurisdiction of which the person is a resident or, if

the case presented by that person comes under a provision of a

Covered Tax Agreement relating to non-discrimination based

on nationality, to that of the Contracting Jurisdiction of which

that person is a national; and the competent authority of that

Contracting Jurisdiction will implement a bilateral notification

or consultation process with the competent authority of the

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other Contracting Jurisdiction for cases in which the competent

authority to which the mutual agreement procedure case was

presented does not consider the taxpayer’s objection to be

justified;

b)

for the second sentence of paragraph 1 not to

apply to its Covered Tax Agreements that do not provide that

the case referred to in the first sentence of paragraph 1 must be

presented within a specific time period on the basis that it

intends to meet the minimum standard for improving dispute

resolution under the OECD/G20 BEPS package by ensuring

that for the purposes of all such Covered Tax Agreements the

taxpayer referred to in paragraph 1 is allowed to present the

case within a period of at least three years from the first

notification of the action resulting in taxation not in accordance

with the provisions of the Covered Tax Agreement;

c)

for the second sentence of paragraph 2 not to

apply to its Covered Tax Agreements on the basis that for the

purposes of all of its Covered Tax Agreements

i)

any agreement reached via the mutual

agreement

procedure

shall

be

implemented

notwithstanding any time limits in the domestic laws of

the Contracting Jurisdictions; or

ii)

it intends to meet the minimum standard

for improving dispute resolution under the OECD/G20

BEPS package by accepting, in its bilateral treaty

negotiations, a treaty provision providing that

A)

the Contracting Jurisdictions

shall make no adjustment to the profits that are

attributable to a permanent establishment of an

enterprise of one of the Contracting

Jurisdictions after a period that is mutually

agreed between both Contracting Jurisdictions

from the end of the taxable year in which the

profits would have been attributable to the

permanent establishment (this provision shall

not apply in the case of fraud, gross negligence

or wilful default); and

B)

the Contracting Jurisdictions

shall not include in the profits of an enterprise,

and tax accordingly, profits that would have

accrued to the enterprise but that by reason of

the conditions referred to in a provision in the

Covered Tax Agreement relating to associated

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enterprises have not so accrued, after a period

that is mutually agreed between both

Contracting Jurisdictions from the end of the

taxable year in which the profits would have

accrued to the enterprise (this provision shall

not apply in the case of fraud, gross negligence

or wilful default).

6. a)

Each Party that has not made a reservation

described in subparagraph a) of paragraph 5 shall notify the

Depositary of whether each of its Covered Tax Agreements contains

a provision described in clause i) of subparagraph a) of paragraph 4,

and if so, the article and paragraph number of each such provision.

Where all Contracting Jurisdictions have made a notification with

respect to a provision of a Covered Tax Agreement, that provision

shall be replaced by the first sentence of paragraph 1. In other cases,

the first sentence of paragraph 1 shall supersede the provisions of the

Covered Tax Agreement only to the extent that those provisions are

incompatible with that sentence.

b)

Each Party that has not made the reservation

described in subparagraph b) of paragraph 5 shall notify the

Depositary of

i)

the list of its Covered Tax Agreements which

contain a provision that provides that a case referred to in the

first sentence of paragraph 1 must be presented within a

specific time period that is shorter than three years from the

first notification of the action resulting in taxation not in

accordance with the provisions of the Covered Tax Agreement,

as well as the article and paragraph number of each such

provision; a provision of a Covered Tax Agreement shall be

replaced by the second sentence of paragraph 1 where all

Contracting Jurisdictions have made such a notification with

respect to that provision; in other cases, subject to clause ii),

the second sentence of paragraph 1 shall supersede the

provisions of the Covered Tax Agreement only to the extent

that those provisions are incompatible with the second

sentence of paragraph 1;

ii)

the list of its Covered Tax Agreements which

contain a provision that provides that a case referred to in the

first sentence of paragraph 1 must be presented within a

specific time period that is at least three years from the first

notification of the action resulting in taxation not in

accordance with the provisions of the Covered Tax Agreement,

as well as the article and paragraph number of each such

provision; the second sentence of paragraph 1 shall not apply

to a Covered Tax Agreement where any Contracting

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Jurisdiction has made such a notification with respect to that

Covered Tax Agreement.

c)

Each Party shall notify the Depositary of

i)

the list of its Covered Tax Agreements which do

not contain a provision described in clause i) of subparagraph

b) of paragraph 4; the first sentence of paragraph 2 shall apply

to a Covered Tax Agreement only where all Contracting

Jurisdictions have made such a notification with respect to that

Covered Tax Agreement;

ii)

in the case of a Party that has not made the

reservation described in subparagraph c) of paragraph 5, the list

of its Covered Tax Agreements which do not contain a

provision described in clause ii) of subparagraph b) of

paragraph 4; the second sentence of paragraph 2 shall apply to

a Covered Tax Agreement only where all Contracting

Jurisdictions have made such a notification with respect to that

Covered Tax Agreement.

d)

Each Party shall notify the Depositary of

i)

the list of its Covered Tax Agreements which do

not contain a provision described in clause i) of subparagraph

c) of paragraph 4; the first sentence of paragraph 3 shall apply

to a Covered Tax Agreement only where all Contracting

Jurisdictions have made such a notification with respect to that

Covered Tax Agreement;

ii)

the list of its Covered Tax Agreements which do

not contain a provision described in clause ii) of subparagrap h

c) of paragraph 4; the second sentence of paragraph 3 shall

apply to a Covered Tax Agreement only where all Contracting

Jurisdictions have made such a notification with respect to that

Covered Tax Agreement.

Article 17 - Corresponding Adjustments

1. Where a Contracting Jurisdiction includes in the profits

of an enterprise of that Contracting Jurisdiction - and taxes

accordingly - profits on which an enterprise of the other Contracting

Jurisdiction has been charged to tax in that other Contracting

Jurisdiction and the profits so included are profits which would have

accrued to the enterprise of the first-mentioned Contracting

Jurisdiction if the conditions made between the two enterprises had

been those which would have been made between independent

enterprises, then that other Contracting Jurisdiction shall make an

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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 the Covered Tax Agreement and the

competent authorities of the Contracting Jurisdictions shall if

necessary consult each other.

2. Paragraph 1 shall apply in place of or in the absence of a

provision that requires a Contracting Jurisdiction to make an

appropriate adjustment to the amount of the tax charged therein on

the profits of an enterprise of that Contracting Jurisdiction where the

other Contracting Jurisdiction includes those profits in the profits of

an enterprise of that other Contracting Jurisdiction and taxes those

profits accordingly, and the profits so included are profits which

would have accrued to the enterprise of that other Contracting

Jurisdiction if the conditions made between the two enterprises had

been those which would have been made between independent

enterprises.

3. A Party may reserve the right

a)

for the entirety of this Article not to apply to its

Covered Tax Agreements that already contain a provision

described in paragraph 2;

b)

for the entirety of this Article not to apply to its

Covered Tax Agreements on the basis that in the absence of a

provision referred to in paragraph 2 in its Covered Tax

Agreement

i)

it shall make the appropriate adjustment

referred to in paragraph 1; or

ii)

its competent authority shall endeavour

to resolve the case under the provisions of a Covered

Tax Agreement relating to mutual agreement procedure;

c)

in the case of a Party that has made a reservation

under clause ii) of subparagraph c) of paragraph 5 of Article

16 (Mutual Agreement Procedure), for the entirety of this

Article not to apply to its Covered Tax Agreements on the

basis that in its bilateral treaty negotiations it shall accept a

treaty provision of the type contained in paragraph 1, provided

that the Contracting Jurisdictions were able to reach agreement

on that provision and on the provisions described in clause ii)

of subparagraph c) of paragraph 5 of Article 16 (Mutual

Agreement Procedure).

4. Each Party that has not made a reservation described in

paragraph 3 shall notify the Depositary of whether each of its

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Covered Tax Agreements contains a provision described in paragraph

2, and if so, the article and paragraph number of each such provision.

Where all Contracting Jurisdictions have made such a notification

with respect to a provision of a Covered Tax Agreement, that

provision shall be replaced by the provisions of paragraph 1. In other

cases, paragraph 1 shall supersede the provisions of the Covered Tax

Agreement only to the extent that those provisions are incompatible

with paragraph 1.

PART VI

ARBITRATION

Article 18 - Choice to Apply Part VI

A Party may choose to apply this Part with respect to its

Covered Tax Agreements and shall notify the Depositary accordingly.

This Part shall apply in relation to two Contracting Jurisdictions with

respect to a Covered Tax Agreement only where both Contracting

Jurisdictions have made such a notification.

Article 19 - Mandatory Binding Arbitration

1. Where

a)

under a provision of a Covered Tax Agreement

(as it may be modified by paragraph 1 of Article 16 (Mutual

Agreement Procedure)) that provides that a person may present

a case to a competent authority of a Contracting Jurisdiction

where that person considers that the actions of one or both of

the Contracting Jurisdictions result or will result for that person

in taxation not in accordance with the provisions of the

Covered Tax Agreement (as it may be modified by the

Convention), a person has presented a case to the competent

authority of a Contracting Jurisdiction on the basis that the

actions of one or both of the Contracting Jurisdictions have

resulted for that person in taxation not in accordance with the

provisions of the Covered Tax Agreement (as it may be

modified by the Convention); and

b)

the competent authorities are unable to reach an

agreement to resolve that case pursuant to a provision of a

Covered Tax Agreement (as it may be modified by paragraph 2

of Article 16 (Mutual Agreement Procedure)) that provides that

the competent authority shall endeavour to resolve the case by

mutual agreement with the competent authority of the other

Contracting Jurisdiction, within a period of two years

beginning on the start date referred to in paragraph 8 or 9, as

the case may be (unless, prior to the expiration of that period

the competent authorities of the Contracting Jurisdictions have

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agreed to a different time period with respect to that case and

have notified the person who presented the case of such

agreement),

any unresolved issues arising from the case shall, if the person so

requests in writing, be submitted to arbitration in the manner

described in this Part, according to any rules or procedures agreed

upon by the competent authorities of the Contracting Jurisdictions

pursuant to the provisions of paragraph 10.

2. Where a competent authority has suspended the mutual

agreement procedure referred to in paragraph 1 because a case with

respect to one or more of the same issues is pending before court or

administrative tribunal, the period provided in subparagraph b) of

paragraph 1 will stop running until either a final decision has been

rendered by the court or administrative tribunal or the case has been

suspended or withdrawn. In addition, where a person who presented a

case and a competent authority have agreed to suspend the mutual

agreement procedure, the period provided in subparagraph b) of

paragraph 1 will stop running until the suspension has been lifted.

3. Where both competent authorities agree that a person

directly affected by the case has failed to provide in a timely manner

any additional material information requested by either competent

authority after the start of the period provided in subparagraph b) of

paragraph 1, the period provided in subparagraph b) of paragraph 1

shall be extended for an amount of time equal to the period beginning

on the date by which the information was requested and ending on the

date on which that information was provided.

4. a)

The arbitration decision with respect to the

issues submitted to arbitration shall be implemented through the

mutual agreement concerning the case referred to in paragraph 1. The

arbitration decision shall be final.

b)

The arbitration decision shall be binding on both

Contracting Jurisdictions except in the following cases

i)

if a person directly affected by the case does not

accept the mutual agreement that implements the arbitration

decision. In such a case, the case shall not be eligible for any

further consideration by the competent authorities. The mutual

agreement that implements the arbitration decision on the case

shall be considered not to be accepted by a person directly

affected by the case if any person directly affected by the case

does not, within 60 days after the date on which notification of

the mutual agreement is sent to the person, withdraw all issues

resolved in the mutual agreement implementing the arbitration

decision from consideration by any court or administrative

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tribunal or otherwise terminate any pending court or

administrative proceedings with respect to such issues in a

manner consistent with that mutual agreement.

ii)

if a final decision of the courts of one of the

Contracting Jurisdictions holds that the arbitration decision is

invalid. In such a case, the request for arbitration under

paragraph 1 shall be considered not to have been made, and the

arbitration process shall be considered not to have taken place

(except for the purposes of Articles 21 (Confidentiality of

Arbitration Proceedings) and 25 (Costs of Arbitration

Proceedings)). In such a case, a new request for arbitration may

be made unless the competent authorities agree that such a new

request should not be permitted.

iii)

if a person directly affected by the case pursues

litigation on the issues which were resolved in the mutual

agreement implementing the arbitration decision in any court

or administrative tribunal.

5. The competent authority that received the initial request

for a mutual agreement procedure as described in subparagraph a) of

paragraph 1 shall, within two calendar months of receiving the

request

a)

send a notification to the person who presented

the case that it has received the request; and

b)

send a notification of that request, along with a

copy of the request, to the competent authority of the other

Contracting Jurisdiction.

6. Within three calendar months after a competent authority

receives the request for a mutual agreement procedure (or a copy

thereof from the competent authority of the other Contracting

Jurisdiction) it shall either

a)

notify the person who has presented the case and

the other competent authority that it has received the

information necessary to undertake substantive consideration

of the case; or

b)

request additional information from that person

for that purpose.

7. Where pursuant to subparagraph b) of paragraph 6, one

or both of the competent authorities have requested from the person

who presented the case additional information necessary to undertake

substantive consideration of the case, the competent authority that

requested the additional information shall, within three calendar

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months of receiving the additional information from that person,

notify that person and the other competent authority either

a)

that it has received the requested information; or

b)

that some of the requested information is still

missing.

8. Where neither competent authority has requested

additional information pursuant to subparagraph b) of paragraph 6,

the start date referred to in paragraph 1 shall be the earlier of

a)

the date on which both competent authorities

have notified the person who presented the case pursuant to

subparagraph a) of paragraph 6; and

b)

the date that is three calendar months after the

notification to the competent authority of the other Contracting

Jurisdiction pursuant to subparagraph b) of paragraph 5.

9. Where additional information has been requested

pursuant to subparagraph b) of paragraph 6, the start date referred to

in paragraph 1 shall be the earlier of

a)

the latest date on which the competent

authorities that requested additional information have notified

the person who presented the case and the other competent

authority pursuant to subparagraph a) of paragraph 7; and

b)

the date that is three calendar months after both

competent authorities have received all information requested

by either competent authority from the person who presented

the case.

If, however, one or both of the competent authorities send the

notification referred to in subparagraph b) of paragraph 7, such

notification shall be treated as a request for additional information

under subparagraph b) of paragraph 6.

10. The competent authorities of the Contracting

Jurisdictions shall by mutual agreement (pursuant to the article of the

relevant Covered Tax Agreement regarding procedures for mutual

agreement) settle the mode of application of the provisions contained

in this Part, including the minimum information necessary for each

competent authority to undertake substantive consideration of the

case. Such an agreement shall be concluded before the date on which

unresolved issues in a case are first eligible to be submitted to

arbitration and may be modified from time to time thereafter.

11. For purposes of applying this Article to its Covered Tax

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Agreements, a Party may reserve the right to replace the two-year

period set forth in subparagraph b) of paragraph 1 with a three-year

period.

12. A Party may reserve the right for the following rules to

apply with respect to its Covered Tax Agreements notwithstanding the

other provisions of this Article

a)

any unresolved issue arising from a mutual

agreement procedure case otherwise within the scope of the

arbitration process provided for by this Convention shall not be

submitted to arbitration, if a decision on this issue has already

been rendered by a court or administrative tribunal of either

Contracting Jurisdiction;

b)

if, at any time after a request for arbitration has

been made and before the arbitration panel has delivered its

decision to the competent authorities of the Contracting

Jurisdictions, a decision concerning the issue is rendered by a

court or administrative tribunal of one of the Contracting

Jurisdictions, the arbitration process shall terminate.

Article 20 - Appointment of Arbitrators

1. Except to the extent that the competent authorities of the

Contracting Jurisdictions mutually agree on different rules,

paragraphs 2 through 4 shall apply for the purposes of this Part.

2. The following rules shall govern the appointment of the

members of an arbitration panel

a)

The arbitration panel shall consist of three

individual members with expertise or experience in

international tax matters.

b)

Each competent authority shall appoint one panel

member within 60 days of the date of the request for arbitration

under paragraph 1 of Article 19 (Mandatory Binding

Arbitration). The two panel members so appointed shall, within

60 days of the latter of their appointments, appoint a third

member who shall serve as Chair of the arbitration panel. The

Chair shall not be a national or resident of either Contracting

Jurisdiction.

c)

Each member appointed to the arbitration panel

must be impartial and independent of the competent authorities,

tax administrations, and ministries of finance of the

Contracting Jurisdictions and of all persons directly affected by

the case (as well as their advisors) at the time of accepting an

appointment, maintain his or her impartiality and independence

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throughout the proceedings, and avoid any conduct for a

reasonable period of time thereafter which may damage the

appearance of impartiality and independence of the arbitrators

with respect to the proceedings.

3. In the event that the competent authority of a

Contracting Jurisdiction fails to appoint a member of the arbitration

panel in the manner and within the time periods specified in

paragraph 2 or agreed to by the competent authorities of the

Contracting Jurisdictions, a member shall be appointed on behalf of

that competent authority by the highest ranking official of the Centre

for Tax Policy and Administration of the Organisation for Economic

Co-operation and Development that is not a national of either

Contracting Jurisdiction.

4. If the two initial members of the arbitration panel fail to

appoint the Chair in the manner and within the time periods specified

in paragraph 2 or agreed to by the competent authorities of the

Contracting Jurisdictions, the Chair shall be appointed by the highest

ranking official of the Centre for Tax Policy and Administration of

the Organisation for Economic Co-operation and Development that is

not a national of either Contracting Jurisdiction.

Article 21 - Confidentiality of Arbitration Proceedings

1. Solely for the purposes of the application of the

provisions of this Part and of the provisions of the relevant Covered

Tax Agreement and of the domestic laws of the Contracting

Jurisdictions related to the exchange of information, confidentiality,

and administrative assistance, members of the arbitration panel and a

maximum of three staff per member (and prospective arbitrators

solely to the extent necessary to verify their ability to fulfil the

requirements of arbitrators) shall be considered to be persons or

authorities to whom information may be disclosed. Information

received by the arbitration panel or prospective arbitrators and

information that the competent authorities receive from the

arbitration panel shall be considered information that is exchanged

under the provisions of the Covered Tax Agreement related to the

exchange of information and administrative assistance.

2. The competent authorities of the Contracting

Jurisdictions shall ensure that members of the arbitration panel and

their staff agree in writing, prior to their acting in an arbitration

proceeding, to treat any information relating to the arbitration

proceeding consistently with the confidentiality and nondisclosure

obligations described in the provisions of the Covered Tax

Agreement related to exchange of information and administrative

assistance and under the applicable laws of the Contracting

Jurisdictions.

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Article 22 - Resolution of a Case Prior to the Conclusion of the

Arbitration

For the purposes of this Part and the provisions of the relevant

Covered Tax Agreement that provide for resolution of cases through

mutual agreement, the mutual agreement procedure, as well as the

arbitration proceeding, with respect to a case shall terminate if, at any

time after a request for arbitration has been made and before the

arbitration panel has delivered its decision to the competent

authorities of the Contracting Jurisdictions

a)

the competent authorities of the Contracting

Jurisdictions reach a mutual agreement to resolve the case; or

b)

the person who presented the case withdraws the

request for arbitration or the request for a mutual agreement

procedure.

Article 23 - Type of Arbitration Process

1. Except to the extent that the competent authorities of the

Contracting Jurisdictions mutually agree on different rules, the

following rules shall apply with respect to an arbitration proceeding

pursuant to this Part

a)

After a case is submitted to arbitration, the

competent authority of each Contracting Jurisdiction shall

submit to the arbitration panel, by a date set by agreement, a

proposed resolution which addresses all unresolved issue(s) in

the case (taking into account all agreements previously reached

in that case between the competent authorities of the

Contracting Jurisdictions). The proposed resolution shall be

limited to a disposition of specific monetary amounts (for

example, of income or expense) or, where specified, the

maximum rate of tax charged pursuant to the Covered Tax

Agreement, for each adjustment or similar issue in the case. In

a case in which the competent authorities of the Contracting

Jurisdictions have been unable to reach agreement on an issue

regarding the conditions for application of a provision of the

relevant Covered Tax Agreement (hereinafter referred to as a

"threshold question"), such as whether an individual is a

resident or whether a permanent establishment exists, the

competent authorities may submit alternative proposed

resolutions with respect to issues the determination of which is

contingent on resolution of such threshold questions.

b)

The competent authority of each Contracting

Jurisdiction may also submit a supporting position paper for

consideration by the arbitration panel. Each competent

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authority that submits a proposed resolution or supporting

position paper shall provide a copy to the other competent

authority by the date on which the proposed resolution and

supporting position paper were due. Each competent authority

may also submit to the arbitration panel, by a date set by

agreement, a reply submission with respect to the proposed

resolution and supporting position paper submitted by the

other competent authority. A copy of any reply submission

shall be provided to the other competent authority by the date

on which the reply submission was due.

c)

The arbitration panel shall select as its decision

one of the proposed resolutions for the case submitted by the

competent authorities with respect to each issue and any

threshold questions, and shall not include a rationale or any

other explanation of the decision. The arbitration decision will

be adopted by a simple majority of the panel members. The

arbitration panel shall deliver its decision in writing to the

competent authorities of the Contracting Jurisdictions. The

arbitration decision shall have no precedential value.

2. For the purpose of applying this Article with respect to

its Covered Tax Agreements, a Party may reserve the right for

paragraph 1 not to apply to its Covered Tax Agreements. In such a

case, except to the extent that the competent authorities of the

Contracting Jurisdictions mutually agree on different rules, the

following rules shall apply with respect to an arbitration proceeding

a)

After a case is submitted to arbitration, the

competent authority of each Contracting Jurisdiction shall

provide any information that may be necessary for the

arbitration decision to all panel members without undue delay.

Unless the competent authorities of the Contracting

Jurisdictions agree otherwise, any information that was not

available to both competent authorities before the request for

arbitration was received by both of them shall not be taken into

account for purposes of the decision.

b)

The arbitration panel shall decide the issues

submitted to arbitration in accordance with the applicable

provisions of the Covered Tax Agreement and, subject to these

provisions, of those of the domestic laws of the Contracting

Jurisdictions. The panel members shall also consider any other

sources which the competent authorities of the Contracting

Jurisdictions may by mutual agreement expressly identify.

c)

The arbitration decision shall be delivered to the

competent authorities of the Contracting Jurisdictions in

writing and shall indicate the sources of law relied upon and

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the reasoning which led to its result. The arbitration decision

shall be adopted by a simple majority of the panel members.

The arbitration decision shall have no precedential value.

3. A Party that has not made the reservation described in

paragraph 2 may reserve the right for the preceding paragraphs of this

Article not to apply with respect to its Covered Tax Agreements with

Parties that have made such a reservation. In such a case, the

competent authorities of the Contracting Jurisdictions of each such

Covered Tax Agreement shall endeavour to reach agreement on the

type of arbitration process that shall apply with respect to that

Covered Tax Agreement. Until such an agreement is reached, Article

19 (Mandatory Binding Arbitration) shall not apply with respect to

such a Covered Tax Agreement.

4. A Party may also choose to apply paragraph 5 with

respect to its Covered Tax Agreements and shall notify the Depositary

accordingly. Paragraph 5 shall apply in relation to two Contracting

Jurisdictions with respect to a Covered Tax Agreement where either of

the Contracting Jurisdictions has made such a notification.

5. Prior to the beginning of arbitration proceedings, the

competent authorities of the Contracting Jurisdictions to a Covered

Tax Agreement shall ensure that each person that presented the case

and their advisors agree in writing not to disclose to any other person

any information received during the course of the arbitration

proceedings from either competent authority or the arbitration panel.

The mutual agreement procedure under the Covered Tax Agreement,

as well as the arbitration proceeding under this Part, with respect to

the case shall terminate if, at any time after a request for arbitration

has been made and before the arbitration panel has delivered its

decision to the competent authorities of the Contracting Jurisdictions,

a person that presented the case or one of that person’s advisors

materially breaches that agreement.

6. Notwithstanding paragraph 4, a Party that does not

choose to apply paragraph 5 may reserve the right for paragraph 5 not

to apply with respect to one or more identified Covered Tax

Agreements or with respect to all of its Covered Tax Agreements.

7. A Party that chooses to apply paragraph 5 may reserve

the right for this Part not to apply with respect to all Covered Tax

Agreements for which the other Contracting Jurisdiction makes a

reservation pursuant to paragraph 6.

Article 24 - Agreement on a Different Resolution

1. For purposes of applying this Part with respect to its

Covered Tax Agreements, a Party may choose to apply paragraph 2

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and shall notify the Depositary accordingly. Paragraph 2 shall apply

in relation to two Contracting Jurisdictions with respect to a Covered

Tax Agreement only where both Contracting Jurisdictions have made

such a notification.

2. Notwithstanding paragraph 4 of Article 19 (Mandatory

Binding Arbitration), an arbitration decision pursuant to this Part

shall not be binding on the Contracting Jurisdictions to a Covered Tax

Agreement and shall not be implemented if the competent authorities

of the Contracting Jurisdictions agree on a different resolution of all

unresolved issues within three calendar months after the arbitration

decision has been delivered to them.

3. A Party that chooses to apply paragraph 2 may reserve

the right for paragraph 2 to apply only with respect to its Covered Tax

Agreements for which paragraph 2 of Article 23 (Type of Arbitration

Process) applies.

Article 25 - Costs of Arbitration Proceedings

In an arbitration proceeding under this Part, the fees and

expenses of the members of the arbitration panel, as well as any costs

incurred in connection with the arbitration proceedings by the

Contracting Jurisdictions, shall be borne by the Contracting

Jurisdictions in a manner to be settled by mutual agreement between

the competent authorities of the Contracting Jurisdictions. In the

absence of such agreement, each Contracting Jurisdiction shall bear

its own expenses and those of its appointed panel member. The cost

of the chair of the arbitration panel and other expenses associated

with the conduct of the arbitration proceedings shall be borne by the

Contracting Jurisdictions in equal shares.

Article 26 - Compatibility

1. Subject to Article 18 (Choice to Apply Part VI), the

provisions of this Part shall apply in place of or in the absence of

provisions of a Covered Tax Agreement that provide for arbitration of

unresolved issues arising from a mutual agreement procedure case.

Each Party that chooses to apply this Part shall notify the Depositary

of whether each of its Covered Tax Agreements, other than those that

are within the scope of a reservation under paragraph 4, contains such

a provision, and if so, the article and paragraph number of each such

provision. Where two Contracting Jurisdictions have made a

notification with respect to a provision of a Covered Tax Agreement,

that provision shall be replaced by the provisions of this Part as

between those Contracting Jurisdictions.

2. Any unresolved issue arising from a mutual agreement

procedure case otherwise within the scope of the arbitration process

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provided for in this Part shall not be submitted to arbitration if the

issue falls within the scope of a case with respect to which an

arbitration panel or similar body has previously been set up in

accordance with a bilateral or multilateral convention that provides

for mandatory binding arbitration of unresolved issues arising from a

mutual agreement procedure case.

3. Subject to paragraph 1, nothing in this Part shall affect

the fulfilment of wider obligations with respect to the arbitration of

unresolved issues arising in the context of a mutual agreement

procedure resulting from other conventions to which the Contracting

Jurisdictions are or will become parties.

4. A Party may reserve the right for this Part not to apply

with respect to one or more identified Covered Tax Agreements (or to

all of its Covered Tax Agreements) that already provide for mandatory

binding arbitration of unresolved issues arising from a mutual

agreement procedure case.

PART VII

FINAL PROVISIONS

Article 27 - Signature and Ratification, Acceptance or Approval

1. As of 31 December 2016, this Convention shall be open

for signature by

a)

all States;

b)

Guernsey (the United Kingdom of Great Britain

and Northern Ireland); Isle of Man (the United Kingdom of

Great Britain and Northern Ireland); Jersey (the United

Kingdom of Great Britain and Northern Ireland); and

c)

any other jurisdiction authorised to become a

Party by means of a decision by consensus of the Parties and

Signatories.

2. This Convention is subject to ratification, acceptance or

approval.

Article 28 - Reservations

1. Subject to paragraph 2, no reservations may be made to

this Convention except those expressly permitted by

a)

Paragraph 5 of Article 3 (Transparent Entities);

b)

Paragraph 3 of Article 4 (Dual Resident Entities);

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c)

Paragraphs 8 and 9 of Article 5 (Application of

Methods for Elimination of Double Taxation);

d)

Paragraph 4 of Article 6 (Purpose of a Covered

Tax Agreement);

e)

Paragraphs 15 and 16 of Article 7 (Prevention of

Treaty Abuse);

f)

Paragraph 3 of Article 8 (Dividend Transfer

Transactions);

g)

Paragraph 6 of Article 9 (Capital Gains from

Alienation of Shares or Interests of Entities Deriving their

Value Principally from Immovable Property);

h)

Paragraph 5 of Article 10 (Anti-abuse Rule for

Permanent Establishments Situated in Third Jurisdictions);

i)

Paragraph 3 of Article 11 (Application of Tax

Agreements to Restrict a Party’s Right to Tax its Own

Residents);

j)

Paragraph 4 of Article 12 (Artificial Avoidance

of Permanent Establishment Status through Commissionnaire

Arrangements and Similar Strategies);

k)

Paragraph 6 of Article 13 (Artificial Avoidance

of Permanent Establishment Status through the Specific

Activity Exemptions);

l)

Paragraph 3 of Article 14 (Splitting-up of

Contracts);

m)

Paragraph 2 of Article 15 (Definition of a Person

Closely Related to an Enterprise);

n)

Paragraph 5 of Article 16 (Mutual Agreement

Procedure);

o)

Paragraph 3 of Article 17 (Corresponding

Adjustments);

p)

Paragraphs 11 and 12 of Article 19 (Mandatory

Binding Arbitration);

q)

Paragraphs 2, 3, 6, and 7 of Article 23 (Type of

Arbitration Process);

r)

Paragraph 3 of Article 24 (Agreement on a

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Different Resolution);

s)

Paragraph 4 of Article 26 (Compatibility);

t)

Paragraphs 6 and 7 of Article 35 (Entry into

Effect); and

u)

Paragraph 2 of Article 36 (Entry into Effect of

Part VI).

2. a)

Notwithstanding paragraph 1, a Party that

chooses under Article 18 (Choice to Apply Part VI) to apply Part VI

(Arbitration) may formulate one or more reservations with respect to

the scope of cases that shall be eligible for arbitration under the

provisions of Part VI (Arbitration). For a Party which chooses under

Article 18 (Choice to Apply Part VI) to apply Part VI (Arbitration)

after it has become a Party to this Convention, reservations pursuant

to this subparagraph shall be made at the same time as that Party’s

notification to the Depositary pursuant to Article 18 (Choice to Apply

Part VI).

b)

Reservations made under subparagraph a) are

subject to acceptance. A reservation made under subparagraph a) shall

be considered to have been accepted by a Party if it has not notified

the Depositary that it objects to the reservation by the end of a period

of twelve calendar months beginning on the date of notification of the

reservation by the Depositary or by the date on which it deposits its

instrument of ratification, acceptance, or approval, whichever is later.

For a Party which chooses under Article 18 (Choice to Apply Part VI)

to apply Part VI (Arbitration) after it has become a Party to this

Convention, objections to prior reservations made by other Parties

pursuant to subparagraph a) can be made at the time of the first-

mentioned Party’s notification to the Depositary pursuant to Article

18 (Choice to Apply Part VI). Where a Party raises an objection to a

reservation made under subparagraph a), the entirety of Part VI

(Arbitration) shall not apply as between the objecting Party and the

reserving Party.

3. Unless explicitly provided otherwise in the relevant

provisions of this Convention, a reservation made in accordance with

paragraph 1 or 2 shall

a)

modify for the reserving Party in its relations

with another Party the provisions of this Convention to which

the reservation relates to the extent of the reservation; and

b)

modify those provisions to the same extent for

the other Party in its relations with the reserving Party.

4. Reservations applicable to Covered Tax Agreements

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entered into by or on behalf of a jurisdiction or territory for whose

international relations a Party is responsible, where that jurisdiction

or territory is not a Party to the Convention pursuant to subparagraph

b) or c) of paragraph 1 of Article 27 (Signature and Ratification,

Acceptance or Approval), shall be made by the responsible Party and

can be different from the reservations made by that Party for its own

Covered Tax Agreements.

5. Reservations shall be made at the time of signature or

when depositing the instrument of ratification, acceptance or

approval, subject to the provisions of paragraphs 2, 6 and 9 of this

Article, and paragraph 5 of Article 29 (Notifications). However, for a

Party which chooses under Article 18 (Choice to Apply Part VI) to

apply Part VI (Arbitration) after it has become a Party to this

Convention, reservations described in subparagraphs p), q), r) and s)

of paragraph 1 of this Article shall be made at the same time as that

Party’s notification to the Depositary pursuant to Article 18 (Choice

to Apply Part VI).

6. If reservations are made at the time of signature, they

shall be confirmed upon deposit of the instrument of ratification,

acceptance or approval, unless the document containing the

reservations explicitly specifies that it is to be considered definitive,

subject to the provisions of paragraphs 2, 5 and 9 of this Article, and

paragraph 5 of Article 29 (Notifications).

7. If reservations are not made at the time of signature, a

provisional list of expected reservations shall be provided to the

Depositary at that time.

8. For reservations made pursuant to each of the following

provisions, a list of agreements notified pursuant to clause ii) of

subparagraph a) of paragraph 1 of Article 2 (Interpretation of Terms)

that are within the scope of the reservation as defined in the relevant

provision (and, in the case of a reservation under any of the following

provisions other than those listed in subparagraphs c), d) and n), the

article and paragraph number of each relevant provision) must be

provided when such reservations are made

a)

Subparagraphs b), c), d), e) and g) of paragraph

5 of Article 3 (Transparent Entities);

b)

Subparagraphs b), c) and d) of paragraph 3 of

Article 4 (Dual Resident Entities);

c)

Paragraphs 8 and 9 of Article 5 (Application of

Methods for Elimination of Double Taxation);

d)

Paragraph 4 of Article 6 (Purpose of a Covered

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Tax Agreement);

e)

Subparagraphs b) and c) of paragraph 15 of

Article 7 (Prevention of Treaty Abuse);

f)

Clauses i), ii), and iii) of subparagraph b) of

paragraph 3 of Article 8 (Dividend Transfer Transactions);

g)

Subparagraphs d), e) and f) of paragraph 6 of

Article 9 (Capital Gains from Alienation of Shares or Interests

of Entities Deriving their Value Principally from Immovable

Property);

h)

Subparagraphs b) and c) of paragraph 5 of Article

10 (Anti-abuse Rule for Permanent Establishments Situated in

Third Jurisdictions);

i)

Subparagraph b) of paragraph 3 of Article 11

(Application of Tax Agreements to Restrict a Party’s Right to

Tax its Own Residents);

j)

Subparagraph b) of paragraph 6 of Article 13

(Artificial Avoidance of Permanent Establishment Status

through the Specific Activity Exemptions);

k)

Subparagraph b) of paragraph 3 of Article 14

(Splitting-up of Contracts);

l)

Subparagraph b) of paragraph 5 of Article 16

(Mutual Agreement Procedure);

m)

Subparagraph a) of paragraph 3 of Article 17

(Corresponding Adjustments);

n)

Paragraph 6 of Article 23 (Type of Arbitration

Process); and

o)

Paragraph 4 of Article 26 (Compatibility).

The reservations described in subparagraphs a) through o)

above shall not apply to any Covered Tax Agreement that is not

included on the list described in this paragraph.

9. Any Party which has made a reservation in accordance

with paragraph 1 or 2 may at any time withdraw it or replace it with a

more limited reservation by means of a notification addressed to the

Depositary. Such Party shall make any additional notifications

pursuant to paragraph 6 of Article 29 (Notifications) which may be

required as a result of the withdrawal or replacement of the

reservation. Subject to paragraph 7 of Article 35 (Entry into Effect),

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the withdrawal or replacement shall take effect

a)

with respect to a Covered Tax Agreement solely

with States or jurisdictions that are Parties to the Convention

when the notification of withdrawal or replacement of the

reservation is received by the Depositary

i)

for reservations in respect of provisions

relating to taxes withheld at source, where the event

giving rise to such taxes occurs on or after 1 January of

the year next following the expiration of a period of six

calendar months beginning on the date of the

communication by the Depositary of the notification of

withdrawal or replacement of the reservation; and

ii)

for reservations in respect of all other

provisions, for taxes levied with respect to taxable

periods beginning on or after 1 January of the year next

following the expiration of a period of six calendar

months beginning on the date of the communication by

the Depositary of the notification of withdrawal or

replacement of the reservation; and

b)

with respect to a Covered Tax Agreement for

which one or more Contracting Jurisdictions becomes a Party

to this Convention after the date of receipt by the Depositary

of the notification of withdrawal or replacement: on the latest

of the dates on which the Convention enters into force for

those Contracting Jurisdictions.

Article 29 - Notifications

1. Subject to paragraphs 5 and 6 of this Article, and

paragraph 7 of Article 35 (Entry into Effect), notifications pursuant to

the following provisions shall be made at the time of signature or

when depositing the instrument of ratification, acceptance or

approval

a)

Clause ii) of subparagraph a) of paragraph 1 of

Article 2 (Interpretation of Terms);

b)

Paragraph 6 of Article 3 (Transparent Entities);

c)

Paragraph 4 of Article 4 (Dual Resident

Entities);

d)

Paragraph 10 of Article 5 (Application of

Methods for Elimination of Double Taxation);

e)

Paragraphs 5 and 6 of Article 6 (Purpose of a

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Covered Tax Agreement);

f)

Paragraph 17 of Article 7 (Prevention of Treaty

Abuse);

g)

Paragraph 4 of Article 8 (Dividend Transfer

Transactions);

h)

Paragraphs 7 and 8 of Article 9 (Capital Gains

from Alienation of Shares or Interests of Entities Deriving their

Value Principally from Immovable Property);

i)

Paragraph 6 of Article 10 (Anti-abuse Rule for

Permanent Establishments Situated in Third Jurisdictions);

j)

Paragraph 4 of Article 11 (Application of Tax

Agreements to Restrict a Party’s Right to Tax its Own

Residents);

k)

Paragraphs 5 and 6 of Article 12 (Artificial

Avoidance of Permanent Establishment Status through

Commissionnaire Arrangements and Similar Strategies);

l)

Paragraphs 7 and 8 of Article 13 (Artificial

Avoidance of Permanent Establishment Status through the

Specific Activity Exemptions);

m)

Paragraph 4 of Article 14 (Splitting-up of

Contracts);

n)

Paragraph 6 of Article 16 (Mutual Agreement

Procedure);

o)

Paragraph 4 of Article 17 (Corresponding

Adjustments);

p)

Article 18 (Choice to Apply Part VI);

q)

Paragraph 4 of Article 23 (Type of Arbitration

Process);

r)

Paragraph 1 of Article 24 (Agreement on a

Different Resolution);

s)

Paragraph 1 of Article 26 (Compatibility); and

t)

Paragraphs 1, 2, 3, 5 and 7 of Article 35 (Entry

into Effect).

2. Notifications in respect of Covered Tax Agreements

entered into by or on behalf of a jurisdiction or territory for whose

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international relations a Party is responsible, where that jurisdiction

or territory is not a Party to the Convention pursuant to subparagraph

b) or c) of paragraph 1 of Article 27 (Signature and Ratification,

Acceptance or Approval), shall be made by the responsible Party and

can be different from the notifications made by that Party for its own

Covered Tax Agreements.

3. If notifications are made at the time of signature, they

shall be confirmed upon deposit of the instrument of ratification,

acceptance or approval, unless the document containing the

notifications explicitly specifies that it is to be considered definitive,

subject to the provisions of paragraphs 5 and 6 of this Article, and

paragraph 7 of Article 35 (Entry into Effect).

4. If notifications are not made at the time of signature, a

provisional list of expected notifications shall be provided at that

time.

5. A Party may extend at any time the list of agreements

notified under clause ii) of subparagraph a) of paragraph 1 of Article

2 (Interpretation of Terms) by means of a notification addressed to

the Depositary. The Party shall specify in this notification whether

the agreement falls within the scope of any of the reservations made

by the Party which are listed in paragraph 8 of Article 28

(Reservations). The Party may also make a new reservation described

in paragraph 8 of Article 28 (Reservations) if the additional

agreement would be the first to fall within the scope of such a

reservation. The Party shall also specify any additional notifications

that may be required under subparagraphs b) through s) of paragraph

1 to reflect the inclusion of the additional agreements. In addition, if

the extension results for the first time in the inclusion of a tax

agreement entered into by or on behalf of a jurisdiction or territory

for whose international relations a Party is responsible, the Party

shall specify any reservations (pursuant to paragraph 4 of Article 28

(Reservations)) or notifications (pursuant to paragraph 2 of this

Article) applicable to Covered Tax Agreements entered into by or on

behalf of that jurisdiction or territory. On the date on which the added

agreement(s) notified under clause ii) of subparagraph a) of

paragraph 1 of Article 2 (Interpretation of Terms) become Covered

Tax Agreements, the provisions of Article 35 (Entry into Effect) shall

govern the date on which the modifications to the Covered Tax

Agreement shall have effect.

6. A Party may make additional notifications pursuant to

subparagraphs b) through s) of paragraph 1 by means of a notification

addressed to the Depositary. These notifications shall take effect

a)

with respect to Covered Tax Agreements solely

with States or jurisdictions that are Parties to the Convention

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when the additional notification is received by the Depositary

i)

for notifications in respect of provisions

relating to taxes withheld at source, where the event

giving rise to such taxes occurs on or after 1 January of

the year next following the expiration of a period of six

calendar months beginning on the date of the

communication by the Depositary of the additional

notification; and

ii)

for notifications in respect of all other

provisions, for taxes levied with respect to taxable

periods beginning on or after 1 January of the year next

following the expiration of a period of six calendar

months beginning on the date of the communication by

the Depositary of the additional notification; and

b)

with respect to a Covered Tax Agreement for

which one or more Contracting Jurisdictions becomes a Party

to this Convention after the date of receipt by the Depositary of

the additional notification: on the latest of the dates on which

the Convention enters into force for those Contracting

Jurisdictions.

Article 30 - Subsequent Modifications of Covered Tax

Agreements

The provisions in this Convention are without prejudice to

subsequent modifications to a Covered Tax Agreement which may be

agreed between the Contracting Jurisdictions of the Covered Tax

Agreement.

Article 31 - Conference of the Parties

1. The Parties may convene a Conference of the Parties for

the purposes of taking any decisions or exercising any functions as

may be required or appropriate under the provisions of this

Convention.

2. The Conference of the Parties shall be served by the

Depositary.

3. Any Party may request a Conference of the Parties by

communicating a request to the Depositary. The Depositary shall

inform all Parties of any request. Thereafter, the Depositary shall

convene a Conference of the Parties, provided that the request is

supported by one-third of the Parties within six calendar months of the

communication by the Depositary of the request.

Article 32 - Interpretation and Implementation

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1. Any question arising as to the interpretation or

implementation of provisions of a Covered Tax Agreement as they

are modified by this Convention shall be determined in accordance

with the provision(s) of the Covered Tax Agreement relating to the

resolution by mutual agreement of questions of interpretation or

application of the Covered Tax Agreement (as those provisions may

be modified by this Convention).

2. Any question arising as to the interpretation or

implementation of this Convention may be addressed by a

Conference of the Parties convened in accordance with paragraph 3

of Article 31 (Conference of the Parties).

Article 33 - Amendment

1. Any Party may propose an amendment to this

Convention by submitting the proposed amendment to the

Depositary.

2. A Conference of the Parties may be convened to

consider the proposed amendment in accordance with paragraph 3 of

Article 31 (Conference of the Parties).

Article 34 - Entry into Force

1. This Convention shall enter into force on the first day of

the month following the expiration of a period of three calendar

months beginning on the date of deposit of the fifth instrument of

ratification, acceptance or approval.

2. For each Signatory ratifying, accepting, or approving

this Convention after the deposit of the fifth instrument of

ratification, acceptance or approval, the Convention shall enter into

force on the first day of the month following the expiration of a

period of three calendar months beginning on the date of the deposit

by such Signatory of its instrument of ratification, acceptance or

approval.

Article 35 - Entry into Effect

1. The provisions of this Convention shall have effect in

each Contracting Jurisdiction with respect to a Covered Tax

Agreement

a)

with respect to taxes withheld at source on

amounts paid or credited to non-residents, where the event

giving rise to such taxes occurs on or after the first day of the

next calendar year that begins on or after the latest of the dates

on which this Convention enters into force for each of the

Contracting Jurisdictions to the Covered Tax Agreement; and

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b)

with respect to all other taxes levied by that

Contracting Jurisdiction, for taxes levied with respect to

taxable periods beginning on or after the expiration of a period

of six calendar months (or a shorter period, if all Contracting

Jurisdictions notify the Depositary that they intend to apply

such shorter period) from the latest of the dates on which this

Convention enters into force for each of the Contracting

Jurisdictions to the Covered Tax Agreement.

2. Solely for the purpose of its own application of

subparagraph a) of paragraph 1 and subparagraph a) of paragraph 5, a

Party may choose to substitute "taxable period" for "calendar year",

and shall notify the Depositary accordingly.

3. Solely for the purpose of its own application of

subparagraph b) of paragraph 1 and subparagraph b) of paragraph 5, a

Party may choose to replace the reference to "taxable periods

beginning on or after the expiration of a period" with a reference to

"taxable periods beginning on or after 1 January of the next year

beginning on or after the expiration of a period", and shall notify the

Depositary accordingly.

4. Notwithstanding the preceding provisions of this Article,

Article 16 (Mutual Agreement Procedure) shall have effect with

respect to a Covered Tax Agreement for a case presented to the

competent authority of a Contracting Jurisdiction on or after the latest

of the dates on which this Convention enters into force for each of the

Contracting Jurisdictions to the Covered Tax Agreement, except for

cases that were not eligible to be presented as of that date under the

Covered Tax Agreement prior to its modification by the Convention,

without regard to the taxable period to which the case relates.

5. For a new Covered Tax Agreement resulting from an

extension pursuant to paragraph 5 of Article 29 (Notifications) of the

list of agreements notified under clause ii) of subparagraph a) of

paragraph 1 of Article 2 (Interpretation of Terms), the provisions of

this Convention shall have effect in each Contracting Jurisdiction

a)

with respect to taxes withheld at source on

amounts paid or credited to non-residents, where the event

giving rise to such taxes occurs on or after the first day of the

next calendar year that begins on or after 30 days after the date

of the communication by the Depositary of the notification of

the extension of the list of agreements; and

b)

with respect to all other taxes levied by that

Contracting Jurisdiction, for taxes levied with respect to

taxable periods beginning on or after the expiration of a period

of nine calendar months (or a shorter period, if all Contracting

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Jurisdictions notify the Depositary that they intend to apply

such shorter period) from the date of the communication by

the Depositary of the notification of the extension of the list of

agreements.

6. A Party may reserve the right for paragraph 4 not to

apply with respect to its Covered Tax Agreements.

7. a)

A Party may reserve the right to replace

i)

the references in paragraphs 1 and 4 to "the latest

of the dates on which this Convention enters into force for

each of the Contracting Jurisdictions to the Covered Tax

Agreement"; and

ii)

the references in paragraph 5 to "the date of the

communication by the Depositary of the notification of the

extension of the list of agreements";

with references to "30 days after the date of receipt by the

Depositary of the latest notification by each Contracting

Jurisdiction making the reservation described in paragraph 7

of Article 35 (Entry into Effect) that it has completed its

internal procedures for the entry into effect of the provisions of

this Convention with respect to that specific Covered Tax

Agreement";

iii)

the references in subparagraph a) of paragraph 9

of Article 28 (Reservations) to "on the date of the

communication by the Depositary of the notification of

withdrawal or replacement of the reservation"; and

iv)

the reference in subparagraph b) of paragraph 9

of Article 28 (Reservations) to "on the latest of the dates on

which the Convention enters into force for those Contracting

Jurisdictions";

with references to "30 days after the date of receipt by the

Depositary of the latest notification by each Contracting

Jurisdiction making the reservation described in paragraph 7

of Article 35 (Entry into Effect) that it has completed its

internal procedures for the entry into effect of the withdrawal

or replacement of the reservation with respect to that specific

Covered Tax Agreement";

v)

the references in subparagraph a) of paragraph 6

of Article 29 (Notifications) to "on the date of the

communication by the Depositary of the additional

notification"; and

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vi)

the reference in subparagraph b) of paragraph 6

of Article 29 (Notifications) to "on the latest of the dates on

which the Convention enters into force for those Contracting

Jurisdictions";

with references to "30 days after the date of receipt by the

Depositary of the latest notification by each Contracting

Jurisdiction making the reservation described in paragraph 7 of

Article 35 (Entry into Effect) that it has completed its internal

procedures for the entry into effect of the additional

notification with respect to that specific Covered Tax

Agreement";

vii)

the references in paragraphs 1 and 2 of Article 36

(Entry into Effect of Part VI) to "the later of the dates on which

this Convention enters into force for each of the Contracting

Jurisdictions to the Covered Tax Agreement";

with references to "30 days after the date of receipt by the

Depositary of the latest notification by each Contracting

Jurisdiction making the reservation described in paragraph 7 of

Article 35 (Entry into Effect) that it has completed its internal

procedures for the entry into effect of the provisions of this

Convention with respect to that specific Covered Tax

Agreement"; and

viii) the reference in paragraph 3 of Article 36 (Entry

into Effect of Part VI) to "the date of the communication by the

Depositary of the notification of the extension of the list of

agreements";

ix)

the references in paragraph 4 of Article 36 (Entry

into Effect of Part VI) to "the date of the communication by the

Depositary of the notification of withdrawal of the

reservation", "the date of the communication by the Depositary

of the notification of replacement of the reservation" and "the

date of the communication by the Depositary of the notification

of withdrawal of the objection to the reservation"; and

x)

the reference in paragraph 5 of Article 36 (Entry

into Effect of Part VI) to "the date of the communication by the

Depositary of the additional notification";

with references to "30 days after the date of receipt by the

Depositary of the latest notification by each Contracting

Jurisdiction making the reservation described in paragraph 7 of

Article 35 (Entry into Effect) that it has completed its internal

procedures for the entry into effect of the provisions of Part VI

(Arbitration) with respect to that specific Covered Tax

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Agreement".

b)

A Party making a reservation in accordance with

subparagraph a) shall notify the confirmation of the completion of its

internal procedures simultaneously to the Depositary and the other

Contracting Jurisdiction(s).

c)

If one or more Contracting Jurisdictions to a

Covered Tax Agreement makes a reservation under this paragraph,

the date of entry into effect of the provisions of the Convention, of

the withdrawal or replacement of a reservation, of an additional

notification with respect to that Covered Tax Agreement, or of Part

VI (Arbitration) shall be governed by this paragraph for all

Contracting Jurisdictions to the Covered Tax Agreement.

Article 36 - Entry into Effect of Part VI

1. Notwithstanding paragraph 9 of Article 28

(Reservations), paragraph 6 of Article 29 (Notifications), and

paragraphs 1 through 6 of Article 35 (Entry into Effect), with respect

to two Contracting Jurisdictions to a Covered Tax Agreement, the

provisions of Part VI (Arbitration) shall have effect

a)

with respect to cases presented to the competent

authority of a Contracting Jurisdiction (as described in

subparagraph a) of paragraph 1 of Article 19 (Mandatory

Binding Arbitration)), on or after the later of the dates on

which this Convention enters into force for each of the

Contracting Jurisdictions to the Covered Tax Agreement; and

b)

with respect to cases presented to the competent

authority of a Contracting Jurisdiction prior to the later of the

dates on which this Convention enters into force for each of

the Contracting Jurisdictions to the Covered Tax Agreement,

on the date when both Contracting Jurisdictions have notified

the Depositary that they have reached mutual agreement

pursuant to paragraph 10 of Article 19 (Mandatory Binding

Arbitration), along with information regarding the date or

dates on which such cases shall be considered to have been

presented to the competent authority of a Contracting

Jurisdiction (as described in subparagraph a) of paragraph 1 of

Article 19 (Mandatory Binding Arbitration)) according to the

terms of that mutual agreement.

2. A Party may reserve the right for Part VI (Arbitration) to

apply to a case presented to the competent authority of a Contracting

Jurisdiction prior to the later of the dates on which this Convention

enters into force for each of the Contracting Jurisdictions to the

Covered Tax Agreement only to the extent that the competent

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authorities of both Contracting Jurisdictions agree that it will apply to

that specific case.

3. In the case of a new Covered Tax Agreement resulting

from an extension pursuant to paragraph 5 of Article 29

(Notifications) of the list of agreements notified under clause ii) of

subparagraph a) of paragraph 1 of Article 2 (Interpretation of Terms),

the references in paragraphs 1 and 2 of this Article to "the later of the

dates on which this Convention enters into force for each of the

Contracting Jurisdictions to the Covered Tax Agreement" shall be

replaced with references to "the date of the communication by the

Depositary of the notification of the extension of the list of

agreements".

4. A withdrawal or replacement of a reservation made under

paragraph 4 of Article 26 (Compatibility) pursuant to paragraph 9 of

Article 28 (Reservations), or the withdrawal of an objection to a

reservation made under paragraph 2 of Article 28 (Reservations)

which results in the application of Part VI 47 (Arbitration) between

two Contracting Jurisdictions to a Covered Tax Agreement, shall have

effect according to subparagraphs a) and b) of paragraph 1 of this

Article, except that the references to "the later of the dates on which

this Convention enters into force for each of the Contracting

Jurisdictions to the Covered Tax Agreement" shall be replaced with

references to "the date of the communication by the Depositary of the

notification of withdrawal of the reservation", "the date of the

communication by the Depositary of the notification of replacement

of the reservation" or "the date of the communication by the

Depositary of the notification of withdrawal of the objection to the

reservation", respectively.

5. An additional notification made pursuant to

subparagraph p) of paragraph 1 of Article 29 (Notifications) shall

have effect according to subparagraphs a) and b) of paragraph 1,

except that the references in paragraphs 1 and 2 of this Article to "the

later of the dates on which this Convention enters into force for each

of the Contracting Jurisdictions to the Covered Tax Agreement" shall

be replaced with references to "the date of the communication by the

Depositary of the additional notification".

Article 37 - Withdrawal

1. Any Party may, at any time, withdraw from this

Convention by means of a notification addressed to the Depositary.

2. Withdrawal pursuant to paragraph 1 shall become

effective on the date of receipt of the notification by the Depositary. In

cases where this Convention has entered into force with respect to all

Contracting Jurisdictions to a Covered Tax Agreement before the date

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on which a Party’s withdrawal becomes effective, that Covered Tax

Agreement shall remain as modified by this Convention.

Article 38 - Relation with Protocols

1. This Convention may be supplemented by one or more

protocols.

2. In order to become a party to a protocol, a State or

jurisdiction must also be a Party to this Convention.

3. A Party to this Convention is not bound by a protocol

unless it becomes a party to the protocol in accordance with its

provisions.

Article 39 - Depositary

1. The Secretary-General of the Organisation for Economic

Co-operation and Development shall be the Depositary of this

Convention and any protocols pursuant to Article 38 (Relation with

Protocols).

2. The Depositary shall notify the Parties and Signatories

within one calendar month of

a)

any signature pursuant to Article 27 (Signature

and Ratification, Acceptance or Approval);

b)

the deposit of any instrument of ratification,

acceptance or approval pursuant to Article 27 (Signature and

Ratification, Acceptance or Approval);

c)

any reservation or withdrawal or replacement of

a reservation pursuant to Article 28 (Reservations);

d)

any notification or additional

notification

pursuant to Article 29 (Notifications);

e)

any proposed amendment to this Convention

pursuant to Article 33 (Amendment);

f)

any withdrawal from this Convention pursuant

to Article 37 (Withdrawal); and

g)

any

other

communication

related

to

this

Convention.

3. The Depositary shall maintain publicly available lists of

a)

Covered Tax Agreements;

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b)

reservations made by the Parties; and

c)

notifications made by the Parties.

In witness whereof the undersigned, being duly authorised

thereto, have signed this Convention.

Done at Paris, the 24th day of November 2016, in English and

French, both texts being equally authentic, in a single copy which

shall be deposited in the archives of the Organisation for Economic

Co-operation and Development.

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