Article 1 - Taxes Covered - Maldives

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION No. 77/2016 New Delhi, the 2nd September, 2016 (INCOME TAX) S.O. 2853(E). -Whereas, an Agreement entered into between the Government of the Republic of India and the Government of the Republic of Maldives for Avoidance of Double Taxation of Income Derived From International Air Transport was signed at New Delhi on the 11th day of April, 2016 as set out in the Annexure to this notification (hereinafter referred to as the said Agreement); And whereas, in accordance with paragraph 2 of Article 6 of the said Agreement, the said Agreement entered into force on the 1st day of August, 2016, being the first day of the second month following the month in which later of the notifications of the completion of the procedures as required by the respective laws for entry into force of the said Agreement is given; And whereas, clause (i) of paragraph 3 of Article 6 of the said Agreement provides that the provisions of the said Agreement shall have effect in India in respect of income derived in any fiscal year beginning on or after the first day of April following the calendar year in which the Agreement enters into force; Now, therefore, in exercise of the powers conferred by sub-section (1) of section 90 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies that all the provisions of said Agreement, as annexed hereto, shall be given effect to in the Union of India. ANNEXURE AGREEMENT BETWEEN THE GOVERNMENT OF THE REPUBLIC OF INDIA AND THE GOVERNMENT OF THE REPUBLIC OF MALDIVES FOR AVOIDANCE OF DOUBLE TAXATION OF INCOME DERIVED FROM INTERNATIONAL AIR TRANSPORT The Government of the Republic of India and the Government of the Republic of Maldives desiring to conclude an agreement for the avoidance of double taxation of income derived from international air transport have agreed as follows: ARTICLE 1 TAXES COVERED 1. This Agreement shall apply to taxes on income imposed on behalf of each Contracting State irrespective of the manner in which they are levied. 2. The existing taxes to which this Agreement shall apply are: a) in the case of India, the income-tax including any surcharge thereon (hereinafter referred to as Indian tax ); b) in the case of Maldives, Business Profit Tax imposed under the Business Profit Tax Act (Law Number 5/2011) (hereinafter referred to as Maldives tax ); 3. This Agreement shall also apply to any identical or substantially similar taxes which are imposed after the date of signature of this 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 are made in their respective taxation laws.