Article 1 - Object and scope of the agreement - Macao Sar

Notification No. 43/2012 Dated 10-10-2012 S.O. 2427(E),- Whereas the annexed Agreement between the Government of the Republic of India and the Government of the Macao Special Administrative Region of the People's Republic of China for the exchange of information with respect to taxes signed in Macao on the 3rd January, 2012 shall come into force on the 16th day of April, 2012, being the date of receipt of later of the notifications after completion of the procedures as required by the respective laws for the entry into force of this Agreement, in accordance with article 13 of the said Agreement. Now, therefore, in exercise of powers conferred by section 90 of the Income-tax Act, 1961 (43 of 1961) , the Central Government hereby notifies that all the provisions of the said Agreement annexed hereto shall be given effect to in the Union of India with effect from the 16th day of April, 2012. Agreement Between the Government of the Republic of India and the Government of the Macao Special Administrative Region of the People's Republic of China for the exchange of information with respect to taxes The Government of the Republic of India and the Government of the Macao Special Administrative Region of the People's Republic of China, desiring to facilitate the exchange of information with respect to taxes, have agreed as follows: ARTICLE 1 OBJECT AND SCOPE OF THE AGREEMENT The competent authorities of the Contracting Parties shall provide assistance through exchange of information that is foreseeably relevant to the administration and enforcement of the internal laws of the Contracting Parties concerning taxes covered by this Agreement. Such information shall include information that is foreseeably relevant to the determination, assessment and collection of such taxes, the recovery and enforcement of tax claims, or the investigation or prosecution of tax matters. Information shall be exchanged in accordance with the provisions of this Agreement and shall be treated as confidential in the manner provided in article 8. The rights and safeguards secured to persons by the laws or administrative practice of the requested Party remain applicable to the extent that they do not unduly prevent or delay effective exchange of information.