Article 3 - General Definitions - Hungary

ARTICLE 3 GENERAL DEFINITIONS 1. For the purposes of this Convention, unless the context otherwise requires: (a) the term Hungary when used in a geographical sense means the territory of the Republic of Hungary; (b) the term India means the territory of India and includes the territorial sea and airspace above it, as well as any other maritime zone in which India has sovereign rights, other rights and jurisdiction, according to the Indian law and in accordance with international law, including the U.N. Convention on the Law of the Sea; (c) the terms Contracting State and the other Contracting State mean Hungary or India, as the context requires; (d) the term person includes an individual, a company, a body of persons and any other entity which is treated as a taxable unit under the taxation laws in force in the respective Contracting States; (e) the term company means anybody corporate or any entity which is treated as a body corporate for tax purposes; (f) the terms enterprise of a Contracting State and enterprise of the other Contracting State means respectively an enterprise carried on by a resident of a Contracting State and an enterprise carried on by a resident of the other Contracting State; (g) the term international traffic means any transport by a ship, or aircraft operated by an enterprise of a Contracting State, except when the ship, or aircraft is operated solely between places in the other Contracting State; (h) the term competent authority means: (i) in the case of Hungary, the Minister of Finance or his authorised representative; (ii) in the case of India, the Central Government in the Ministry of Finance (Department of Revenue) or their authorised representative; (i) the term national means: (i) any individual possessing the nationality of a Contracting State; (ii) any legal person, partnership, association, company or other entity deriving its status as such from the laws in force in a Contracting State. (j) the term fiscal year means: (i) in the case of India, the financial year beginning on the first day of April; (ii) in the case of Hungary, the calendar year; (k) the term tax means Indian tax or Hungarian tax, as the context requires, but shall not include any amount which is payable in respect of any default or omission in relation to the taxes to which this Convention applies or which represents a penalty or fine imposed relating to those taxes. 2. As regards the application of the Convention at any time by a Contracting State, any term not defined therein shall, unless the context otherwise requires, have the meaning that it has at that time under the law of that State for the purposes of the taxes to which the Convention applies, any meaning under the applicable tax laws of that State prevailing over a meaning given to the term under other laws of that State.