Article 3 - Taxes Covered - SAARC Members

ARTICLE 3 TAXES COVERED 1. This Agreement shall apply to taxes on income imposed by or on behalf of the Member States. 2. There shall be regarded as taxes on income all taxes imposed on total income, or on elements of income, including taxes on gains from the alienation of movable or immovable property and taxes on the total amounts of wages or salaries paid or deemed to be paid by enterprises. 3. The existing taxes to which the Agreement shall apply are listed in ScheduIe-II. 4. The Agreement shall apply also to any identical or substantially similar taxes that are imposed after the date of signature of the Agreement in addition to, or in place of, the existing taxes. The Competent Authorities of the Member States shall notify the SAARC Secretariat of any significant changes that have been made in their respective taxation laws.