Article 1 - Object and scope of the agreement - Principality of Liechtenstein

NOTIFICATION NO. 30/2014 DATED 06-06-2014 Whereas, an agreement (hereinafter referred to as the said agreement) between the Government of the Republic of India and the Government of the Principality of Liechtenstein, for the exchange of information on tax matters was signed at Berne, Switzerland on the 28th day of March, 2013; 2. And whereas, the date of entry into force of the said agreement is the 20th of January, 20014, being one month from the relevant date on which the last of the notifications of completion of the procedures as required by the respective laws for entry into force of the said agreement was received, in accordance with paragraph 1 Article 11 of the said agreement: 3. And whereas, the said agreement shall have effect for all requests made in respect of taxable periods beginning on or after 1st April, 2013, in accordance with paragraph 2 of the Article 11 of the said agreement; 4. Now, therefore, in exercise of the powers confirmed by section 90 of the Income tax Act, 1961 (43 of 1961), the Central Government hereby directs that the said agreement between the Government of the Republic of India and the Government of the Principality of Liechtenstein on the exchange of information on tax matters, as set out in the annexure hereto, shall have effect for all requests made in respect of taxable periods beginning on or after 1st April, 2013. Annexure AGREEMENT BETWEEN THE GOVERNMENT OF THE REPUBLIC OF INDIA AND THE GOVERNMENT OF THE PRINCIPALITY OF LIECHTENSTEIN ON THE EXCHANGE OF INFORMATION ON TAX MATTERS The Government of the Republic of India and the Government of the Principality of Liechtenstein, 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 with respect to persons subject to such taxes, the recovery and enforcement of tax claims, or the investigation or prosecution of tax matters in relation to such persons. 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.