Article 2 - Taxes Covered - Albania

ARTICLE 2 TAXES COVERED 1. This Agreement shall apply to taxes on income and on capital imposed on behalf of a Contracting State or of its political subdivisions or of its local authorities, irrespective of the manner in which they are levied. 2. There shall be regarded as taxes on income and on capital all taxes imposed on total income, on total capital, or on elements of income or of capital, including taxes on gains from the alienation of movable or immovable property and taxes on the total amounts of wages or salaries paid by enterprises. 3. The existing taxes to which the Agreement shall apply are in particular: (a) in Albania: (i) the income taxes (including corporate profits tax and personal income tax); (ii) the tax on small business activities, and (iii) the property tax; (hereinafter referred to as Albanian Tax ); (b) in India: (i) the income tax, including any surcharge thereon; (ii) the wealth tax, including any surcharge thereon; (hereinafter referred to as Indian tax ). 4 . The Agreement shall apply also to any identical or substantially similar taxes which 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 Contracting States shall notify each other of any significant changes which have been made in their respective taxation laws.