Article 1 - Object and Scope of the Agreement - Belize

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 7 th January, 2014 (INCOME-TAX) S.O. 48(E). Whereas, an agreement (hereinafter referred to as the said agreement) was entered into between the Government of the Republic of India and the Government of Belize for the exchange of information with respect of taxes was signed at Belmopan, Belize on the 18th day of September, 2013; And whereas, the date of entry into force of the said agreement is the 25th day of November, 2013, being the date of later of the notification of completion of the procedures as required by the respective laws for entry into force of the said agreement, in accordance with the Article 10 of the said agreement; Paragraph 2 of the Article 10 of the said agreement provides that the provisions of the said agreement shall enter into force on the date of the later of the notifications referred to in paragraph 1 of this Article and shall thereupon have effect forthwith; Now, therefore, in exercise of the powers conferred by section 90 of the Income-tax Act, 1961 (43 of 1961) , the Central Government hereby directs that all the provisions of said agreement between the Government of the Republic of India and the Government of Belize for the exchange of information with respect to taxes as set out in the Annexure hereto, shall be given effect to in the Union of India with effect from the date of entry into force of said agreement i.e. , the 25th day of November, 2013. [Notification No. 03/2014/F. No. 503/4/2012-FTD-I] AKHILESH RANJAN, Jt. Secy. ANNEXURE AGREEMENT BETWEEN THE GOVERNMENT OF THE REPUBLIC OF INDIA AND THE GOVERNMENT OF BELIZE FOR THE EXCHANGE OF INFORMATION WITH RESPECT TO TAXES The Government of the Republic of India and the Government of Belize, 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 domestic 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. 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.