Article 2 - Taxes Covered - Lithuania

ARTICLE 2 TAXES COVERED 1. This Agreement shall apply to taxes on income and on capital 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 and on capital all taxes imposed on total income, on total capital, or on elements of income or of capital, including taxes on gains from the alienation of movable or immovable property. 3. The existing taxes to which the Agreement shall apply are in particular: (a) in India: (i) the income tax, including any surcharge thereon; (ii) the wealth tax, including any surcharge thereon; (hereinafter referred to as Indian tax ); (b) in Lithuania: (i) the profit tax (pelno mokestis); (ii) the income tax (pajamu mokestis); (iii) the immovable property tax (nekilnojamojo turto mokestis); (hereinafter referred to as Lithuanian tax ). 4. 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 taxation laws.