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TMI BlogDouble taxation Agreement - Agreement between the Government of the Republic of India and the Government of Jersey for the Exchange of Information and Assistance in Collection with Respect to TaxesX X X X Extracts X X X X X X X X Extracts X X X X ..... nt of the Republic of India and the Government of Jersey for the Exchange of Information and Assistance in Collection with Respect to Taxes Now, therefore, in exercise of the powers conferred by section 90 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies that all the provisions of the Agreement between the Government of the Republic of India and the Government of Jersey for the exchange of information with respect to taxes, as set out in the Annexure hereto, shall be given effect to in the Union of India with effect from the 8th May, 2012, that is, the date of entry into force of the said Agreement. Whereas the Government of the Republic of India and the Government of Jersey ('the Contracting Parties'), desire to facilitate the exchange of information and assistance in collection with respect to taxes; Whereas it is acknowledged that the Government of Jersey has the right under the terms of its Entrustment from the United Kingdom of Great Britain and Northern Ireland to negotiate, conclude, perform and subject to the terms of this Agreement terminate a tax information exchange agreement with the Government of the Republic of India; Now, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... istance in collection measures which may affect the obligations of that Party pursuant to this Agreement. Article 4 : DEFINITIONS - 1. For the purposes of this Agreement, unless otherwise defined: ( a ) 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; ( b ) the term "Jersey" means the Bailiwick of Jersey, including the territorial sea; ( c ) the term "Contracting Party" means India or Jersey as the context requires; ( d ) the term "competent authority" means ( i ) in the case of India, the Finance Minister, Government of India, or its authorized representative; ( ii ) in the case of Jersey, the Treasury and Resources Minister or his authorized representative; ( e ) 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 Parties; ( f ) the term ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) the term "assistance in collection measures" means laws and administrative or judicial procedures that enable a Contracting Party to collect and remit the requested tax claim; ( q ) the term "information" means any fact, statement, document or record in whatever form. 2. As regards the application of this Agreement at any time by a Contracting Party, any term not defined therein shall, unless the context otherwise requires or the competent authorities agree to a common meaning pursuant to the provisions of Article 12 of this Agreement, have the meaning that it has at that time under the law of that Party, any meaning under the applicable tax laws of that Party prevailing over a meaning given to the term under other laws of that Party. Article 5 : EXCHANGE OF INFORMATION UPON REQUEST - 1. The competent authority of the Requested Party shall provide upon request information for the purposes referred to in Article 1. Such information shall be exchanged without regard to whether the Requested Party needs such information for its own tax purposes or whether the conduct being investigated would constitute a crime under the laws of the Requested Party if such conduct oc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nvestigation; ( b ) the period for which information is requested; ( c ) the nature of the information requested and the form in which the Requesting Party would prefer to receive it ; ( d ) the tax purpose for which the information is sought; ( e ) grounds for believing that the information requested is present in the requested Party or is in the possession of or control of or obtainable by a person within the jurisdiction of the Requested Party; ( f ) to the extent known, the name and address of any person believed to be in possession of or in the control of or able to obtain the requested information; ( g ) a statement that the request is in conformity with the laws and administrative practices of the Requesting Party, that if the requested information was within the jurisdiction of the Requesting Party then the competent authority of the Requesting Party would be able to obtain the information under the laws of the Requesting Party or in the normal course of administrative practice and that it is in conformity with this Agreement; ( h ) a statement that the Requesting Party has pursued all means available in its own territory to obtain the information, exce ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s provided for under the domestic law of the relevant Party or which would disclose any trade, business, industrial, commercial or professional secret or trade process, provided that information described in paragraph 4 of Article 5 shall not be treated as such a secret or trade process merely because it meets the criteria in that paragraph; ( ii ) to carry out administrative measures at variance with its laws and administrative practices, provided nothing in this sub-paragraph shall affect the obligations of a Contracting Party under paragraph 4 of Article 5. 3. A request for information shall not be refused on the ground that the tax claim giving rise to the request is disputed. 4. The Requested Party shall not be required to obtain and provide information which the requesting Party would be unable to obtain in similar circumstances under its own laws for the purpose of the administration or enforcement of its own tax laws or in response to a valid request from the Requested Party under this Agreement. 5. The Requested party may decline a request for information if the information is requested by the Requesting party to administer or enforce a provision of the tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... acting Party, if requested by the competent authority of the first mentioned party, shall take measures for freezing the assets of that person in that Contracting Party in accordance with the provisions of its law. 6. Notwithstanding the provisions of paragraphs 3 and 4, a tax claim accepted by a Contracting Party for purposes of paragraph 3 or 4 shall not, in that State, be subject to the time limits or accorded any priority applicable to a tax claim under the laws of that State by reason of its nature as such. In addition, a tax claim accepted by a Contracting Party for the purposes of paragraph 3 or 4 shall not, in that State, have any priority applicable to that tax claim under the laws of the other Contracting Party. 7. Proceedings with respect to the existence, validity or the amount of a tax claim of a Contracting Party shall only be brought before the courts or administrative bodies of that Party. Nothing in this Article shall be construed as creating or providing any right to such proceedings before any court or administrative body of the other Contracting Party. 8. Where, at any time after a request has been made by a Contracting Party under paragraph 3 or 4 a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Requested Party. Article 10 : IMPLEMENTATION LEGISLATION - The Contracting Parties shall enact any legislation necessary to comply with, and give effect to, the terms of the Agreement. Such legislation shall be enacted within six months of entry into force of this Agreement. Article 11 : COSTS - 1. Unless the competent authorities of the Contracting Parties otherwise agree, ordinary costs incurred in providing assistance shall be borne by the Requested Party, and, subject to the provisions of his Article, extraordinary costs incurred in providing assistance shall, if they exceed 500 British Pounds, be borne by the Requesting Party. 2. The competent authorities will consult each other, in advance, in any particular case where extraordinary costs are likely to exceed 500 British Pounds to determine whether the Requesting Party will continue to pursue the request and bear the cost. 3. The competent authorities shall consult from time to time with regard to this Article. 4. Ordinary costs include internal administration costs, any minor external costs and overhead expenses incurred by the Requested Party in reviewing and responding to information reque ..... X X X X Extracts X X X X X X X X Extracts X X X X
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