Article 1 - Taxes Covered - Libya

MINISTRY OF FINANCE (Deportment of Revenue) Foreign Tax Division NOTIFICATION New Delhi, the 1st July, 1982 INCOME-TAX G.S.R. 484(E). Whereas the annexed Convention between the Socialist Peoples Libyan Arab Jamahiriya and the Government of the Republic of India for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income has been ratified and the instruments of ratification exchanged as required by Article 25 of the said Convention ; Now, therefore, in exercise of the powers conferred by section 90 of the Income-tax Act, 1961 (43 of 1961) and section 24A of the Companies (Profits) Surtax Act, 1964 (7 of 1964), the Central Government hereby directs that all the provisions of the said Convention shall be given effect to in the Union of India. CONVENTION BETWEEN THE SOCIALIST PEOPLES LIBYAN ARAB JAMAHIRIYA AND THE GOVERNMENT OF REPUBLIC OF INDIA FOR THE AVOIDANCE OF DOUBLE TAXATION AND THE PREVENTION OF FISCAL EVASION WITH RESPECT TO TAXES ON INCOME CHAPTER I SCOPE OF THE CONVENTION Article 1 TAXES COVERED 1. This Convention shall apply to taxes on income imposed on behalf of each Contracting State or local authorities, irrespective of the manner in which they are levied. 2. They shall be regarded as taxes on income - all taxes imposed on total income, or on elements of income. 3. The existing taxes to which this Convention shall apply are : (A) With regard to the Socialist Peoples Libyan Arab Jamahiriya : (i) real estate revenue tax ; (ii) agricultural revenue tax; (iii) taxes on commercial, industrial and professional profits, which comprise (a) taxes on profits realised from commercial, industrial and professional activities, (b) taxes on companies ; (iv) taxes on profits realised by practising fee professions ; (v) taxes on wages, salaries and the like ; (vi) taxes on income realised abroad ; (vii) general tax on income ; (viii) al-jihad tax (deference tax) ; (ix) income arising from depositing money in banks and savings accounts. (B) With regard to the Republic of India : (i) the income-tax including any surcharge thereon imposed under the Income-tax Act, 1961 (43 of 1961) ; (ii) the surtax imposed under the Companies (Profits) Surtax Act, 1964 (7 of 1964). 4. The Convention shall also apply to any identical or substantially similar taxes which are subsequently imposed in addition to, or in place of, the existing taxes. At the end of each year, the competent authorities of the Contracting States shall notify to each other any changes which have been made in their respective taxation laws.