Article 2 - Taxes covered - Cyprus (Old - Effective upto 31-3-2017)

Article 2: Taxes covered - 1. This Agreement shall apply to taxes on income and on capital imposed on behalf of Contracting State or of its political sub-divisions 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, taxes on the total amounts of wages or salaries paid by enterprises, as well as taxes on capital appreciation. 3. The taxes on which this Agreement shall apply are : (a) in India : (i) the income-tax including any surcharge thereon; (ii) the wealth-tax; (hereinafter referred to as Indian tax); (b) in Cyprus : (i) the income-tax; (ii) the corporate income-tax; (iii) the special contribution; (iv) the capital gains tax; (v) the immovable property tax; (hereinafter referred to as Cyprus tax). 4. This Agreement shall also apply to any identical or substantially similar taxes which are imposed by either Contracting State after the date of signature of the present Agreement in addition to, or in place of, the taxes referred to in paragraph 3. The competent authorities of the Contracting States shall notify each other of any substantial changes which are made in their respective taxation laws.