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TMI BlogDTAA - Agreement For Exchange Of Information With Respect To Taxes With Macao Special Administrative Region Of People’s Republic Of ChinaX X X X Extracts X X X X X X X X Extracts X X X X ..... ion No. 43/2012/F. NO. 503/04/2009-FT&TR-II] AGREEMENT BETWEEN THE GOVERNMENT OF THE REPUBLIC OF INDIA AND THE GOVERNMENT OF THE MACAO SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA FOR THE EXCHANGE OF INFORMATION WITH RESPECT TO TAXES The Government of the Republic of India and the Government of the Macao Special Administrative Region of the People's Republic of China, desiring to facilitate the exchange of information with respect to taxes, have agreed as follows: Article 1 Object and scope of the agreement The competent authorities of the Contracting Parties shall provide assistance through exchange of information that is foreseeably relevant to the administration and enforcement of the internal laws of the Contracting Parties concerning taxes covered by this Agreement. Such information shall include information that is foreseeably relevant to the determination, assessment and collection of such taxes, the recovery and enforcement of tax claims, or the investigation or prosecution of tax matters. Information shall be exchanged in accordance with the provisions of this Agreement and shall be treated as confidential in the manner provided in article 8 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... means the peninsula of Macao and the islands of Taipa and Coloane ; (c) the term "Contracting Party" means India or Macao as the context requires ; (d) the term "competent authority" means (i) In the case of India, the Finance Minister, Government of India, or his authorised representative; and (ii) In the case of Macao, the Chief Executive or his authorised representative; (e) the term "person" includes an individual, a company, 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 "company" means any body corporate or any entity that is treated as a body corporate for tax purposes; (g) the term "publicly traded company" means any company whose principal class of shares is listed on a recognised stock exchange provided its listed shares can be readily purchased or sold by the public. Shares can be purchased or sold "by the public" if the purchase or sale of shares is not implicitly or explicitly restricted to a limited group of investors; (h) the term "principal class of shares" means the class or classes of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 occurred in the requested Party. 2. If the information in the possession of the competent authority of the requested Party is not sufficient to enable it to comply with the request for information, that Party shall use all relevant information gathering measures to provide the requesting Party with the information requested, notwithstanding that the requested Party may not need such information for its own tax purposes. 3. If specifically requested by the competent authority of the requesting Party, the competent authority of the requested party shall provide information under this article, to the extent allowable under its internal laws, in the form of depositions of witnesses and authenticated copies of original records. 4. Each Contracting Party shall ensure that its competent authority for the purposes specified in article 1 of this Agreement, has the authority to obtain and provide upon request: (a) information held by banks, other financial ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... th this Agreement; (h) a statement that the requesting Party has pursued all means available in its own territory to obtain the information, except those that would give rise to disproportionate difficulties. 7. The competent authority of the requested Party shall forward the requested information as promptly as possible to the requesting Party. To ensure a prompt response, the competent authority of the requested Party shall confirm receipt of a request in writing to the competent authority of the requesting Party and shall notify the competent authority of the requesting Party of deficiencies in the request, if any, within 60 days of the receipt of the request. 8. If the competent authority of the requested Party has been unable to obtain and provide the information within 90 days of receipt of the request, including if it encounters obstacles in furnishing the information or it refuses to furnish the information, it shall immediately inform the requesting Party, explaining the reason for its inability, the nature of the obstacles or the reasons for its refusal. Article 6 Tax examinations abroad 1. At the request of the competent authority of the requesting Party, the requ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of seeking or providing legal advice; or (ii) produced for the purposes of use in existing or contemplated legal proceedings ; or (c) 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 or provide information which the requesting Party would be unable to obtain in similar circumstances under its own laws for the purposes 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 shall not decline to provide information solely because the request does not include all the information required under article 5 if the information can otherwise be provided according to the law of the requested Party. Article 8 Confidentiality Any information received by a Contracting Party under this Agreement shall be treated as confidential and may be disc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rthwith. Article 14 Termination 1. This Agreement shall remain in force until terminated by either Contracting Party. 2. Either Contracting Party may, after the expiry of five years from the date of its entry into force, terminate the Agreement by serving a written notice of termination to the other Contracting Party. 3. Such termination shall become effective on the first day of the month following the expiration of a period of six months after the date of receipt of notice of termination by the other Contracting Party. All requests received up to the effective date of termination shall be dealt with in accordance with the provisions of the Agreement. 4. If a Contracting Party terminates this Agreement, notwithstanding such terminations, both parties shall remain bound by the provisions of article 8 of this Agreement with respect to any information obtained under this Agreement. In Witness Whereof the undersigned, being duly authorised thereto, have signed this Agreement. Done in duplicate at Macao, on the 3rd day of January, 2012, in the Hindi, Chinese, Portuguese and English languages, all texts being equally authentic. In case of divergence between the texts, the Englis ..... X X X X Extracts X X X X X X X X Extracts X X X X
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