Protocol - Protocol - China

PROTOCOL At the signing of the Agreement between the Government of the Republic of India and the Government of the People's Republic of China for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income (hereinafter referred to as The Agreement ) both sides have agreed upon the following which form an integral part of the Agreement: 1. With reference to paragraph (1d) of Article 3 : It is understood that the term tax should not include any penalty imposed for non-compliance of the laws and regulations relating to the taxes to which this Agreement applies. 2. With reference to Article 8, the exemption shall also include : (i) in China, the business tax; (ii) in India, any tax similar to the business tax in China which may be imposed in India after signing of the Agreement. 1 [ **** ] 2 [ 3. For the purpose of paragraph 3 of Article 11(Interest): (a) the term Central Bank means, in the case of China, the People s Bank of China, and in the case of India, the Reserve Bank of India; (b) the term any financial institution wholly owned by the Government of the other Contracting State means: (i) in the case of China: (A) the China Development Bank; (B) the Agricultural Development Bank of China; (C) the Export-Import Bank of China; (D) the National Council for Social Security Fund; (E) the China Export Credit Insurance Corporation; (F) the China Investment Corporation; (G) any other institution wholly owned by the Government of China as may be agreed from time to time between the competent authorities of the Contracting States; (ii) in the case of India: (A) the Export-Import Bank of India; (B) the National Housing Bank; (C) the India Infrastructure Finance Company Limited; (D) the Export Credit Guarantee Corporation of India Limited; (E) the National Bank for Agricultural and Rural Development; (F) any other institution wholly owned by the Government of India as may be agreed from time to time between the competent authorities of the Contracting States. ] In witness whereof, the undersigned, being duly authorized thereto, have signed the present Protocol. Done in duplicate at New Delhi on this eighteenth day of July, one thousand nine hundred and ninety-four in the Hindi, Chinese and English languages, all three texts being equally authentic. In case of any divergence, the English text shall prevail. ************* NOTES:- 1. Omitted vide Notification No. 54/2019 dated 17-07-2019 before it was read as, 3. With reference to Article 26: The competent authorities of the Contracting States shall agree from time to time on the information or documents which shall be necessarily furnished on a routine basis. 2. Inserted vide Notification No. 54/2019 dated 17-07-2019