Protocol - Protocol - Principality of Liechtenstein

Protocol to the Agreement between the Government of the Principality of Liechtenstein and the Government of India on the exchange of information on tax matters On the occasion of the signing of the Agreement between the Government of the Principality of Liechtenstein and the Government of India (the Contracting Parties ) on the exchange of information on tax matters, the Contracting Parties have agreed upon the following provisions, which are an integral part of this Agreement: 1. With respect to subparagraph (f) of paragraph 1 of Article 4, it is understood that the term company includes also establishments ( Anstalten ). 2. With respect to subparagraph a of paragraph 5 of Article 5 , it is understood that it is not necessary to provide the name of the taxpayer in order to define its identity, if this identity can be determined from equivalent elements. 3. With respect to paragraph 5 of Article 7, it is understood that this paragraph does not apply to cases where tax rules, including the applicable tax rate, differ only on the basis of residence. 4. Formal communications, including requests for information, made in connection with or pursuant to the provisions of this Agreement entered into will be in writing directly to the competent authority of the other Contracting Party at the addresses given below, or such other address as may be notified by one Contracting Party to the other from time to time. Any subsequent communications regarding requests for information will be in writing between the earlier mentioned competent authorities or their authorised entities, whereas the possibility of direct consultation is being given. 5. Although the Agreement allows only for requests for information with regard to tax years beginning on or after April 1, 2013, the Agreement provides for exchange of documents or information created in or derived from a date preceding April 1, 2013, that are foreseeably relevant to a request relating to tax years beginning on or after April 1, 2013. Such information may be used only if there is an ongoing investigation or examination with respect to a tax year that begins on or after April 1, 2013. For example: (a) if assistance is requested with respect to a taxpayer s bank transactions occurring after March 31, 2013, and documents such as, but not limited to, a signature card for the account in question were executed prior to March 31, 2013, the Contracting Parties would exchange the documents. (b) where a request involves a trust or a foundation and documents such as, as the case may be, the deed of settlement or the foundation statutes and/or bylaws, were executed prior to April 1, 2013, the Contracting Parties would exchange the documents. 6. Liechtenstein and India fully subscribe to the concept of non-discriminatory tax treatment of each other s nationals and agree that, given this Agreement, discriminatory tax treatment based on a lack of tax transparency or effective exchange of information for tax purposes is not justified.