Article 1 - Object and scope of the agreement - San Marino

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (ii)] GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE Notification No. 63/2015 New Delhi, the 12 th August, 2015 S.O.(E).- Whereas, an agreement (hereinafter referred to as the said agreement between the Government of the Republic of India and the Government of the Republic of San Marino, for the exchange of information with respect to taxes was signed at Rome, on the 19 th day of December, 2013: 2. And whereas, the date of entry into force of the said agreement is the 29 th day of August, 2014, being the date of the later of the notifications of completion of the procedures as required by the respective laws for entry into force of the said agreement in accordance with paragraph 1 of Article 11 of the said agreement; 3. And whereas, paragraph 2 of Article 11 of the said agreement provides that the agreement shall enter into force on the date of later of the notifications and shall thereupon have effect forthwith; 4. 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 provisions of the said agreement between the Government of the Republic of India and the Government of the Republic of San Marino on the exchange of information with respect to taxes, as set out in the said agreement annexed hereto, shall have effect in the Union of India from the 29 th day of August, 2014. [F. No. 500/02/2003-FTD-I] (Akhilesh Ranjan) Joint Secretary to the Government of India ANNEXURE AGREEMENT BETWEEN THE GOVERNMENT OF THE REPUBLIC OF INDIA AND THE GOVERNMENT OF THE REPUBLIC OF SAN MARINO FOR THE EXCHANGE OF INFORMATION WITH RESPECT TO TAXES The Government of the Republic of India and the Government of the Republic of San Marino, desiring to facilitate the exchange of information with respect to taxes have agreed as follows: ARTICLE 1 OBJECT AND SCOPE OF THE AGREEMENT 1. 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 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.