Article 2 - Taxes Covered - Chile

ARTICLE 2 TAXES COVERED 1. This Agreement shall apply to taxes on income imposed on behalf of a Contracting State, or of its political subdivisions or local authorities irrespective of the manner in which they are levied. 2. There shall be regarded as taxes on income all taxes imposed on total income, or on elements of income, including taxes on gains from the alienation of movable or immovable property, taxes on the total amount of wages or salaries paid by enterprises, as well as on capital appreciation. 3. The existing taxes to which the Agreement shall apply are in particular: (a) in India, the income tax including any surcharge thereon; (hereinafter referred to as Indian Tax ); (b) in Chile, the taxes imposed under the Income-Tax Act, Ley sobre Impuesto a la Renta (hereinafter referred to as Chilean tax ); 5. The Agreement shall apply also to any identical or substantially similar taxes that are imposed after the date of signature of the 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 that have been made in their respective taxation laws.