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TMI BlogAgreement between the Government of the Republic of India and the Government of the Republic of San Marino for the Exchange of Information with respect to taxesX X X X Extracts X X X X X X X X Extracts X X X X ..... vides that the agreement shall enter into force on the date of later of the notifications and shall thereupon have effect forthwith; 4. Now, therefore, in exercise of the powers conferred by section 90 of the Income tax Act 1961 (43 of 1961), the Central Government hereby directs that all provisions of the said agreement between the Government of the Republic of India and the Government of the Republic of San Marino on the exchange of information with respect to taxes, as set out in the said agreement annexed hereto, shall have effect in the Union of India from the 29 th day of August, 2014. [F. No. 500/02/2003-FTD-I] (Akhilesh Ranjan) Joint Secretary to the Government of India ANNEXURE AGREEMENT BETWEEN THE GOVERNMENT OF THE REPUBLIC OF INDIA AND THE GOVERNMENT OF THE REPUBLIC OF SAN MARINO FOR THE EXCHANGE OF INFORMATION WITH RESPECT TO TAXES The Government of the Republic of India and the Government of the Republic of San Marino, desiring to facilitate the exchange of information with respect to taxes have agreed as follows: ARTICLE 1 OBJECT AND SCOPE OF THE AGREEMENT 1. The competent autho ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... itime 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 San Marino means the territory of Republic of San Marino; (c) the term Contracting Party means India or San Marino, 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 San Marino, the Central Liaison Office (CLO), as the Authority designed by domestic Law for the purpose of Exchange of information; (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; (e) 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... red 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 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 domestic 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 of this Agreement, has the authority to obtain and provide upon request: (a) information held by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mal 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, 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: (a) 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. (b) 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 EXAMI ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rovide information, which would reveal confidential communications between a client and an attorney, solicitor or other admitted legal representative where such communications are: (i) produced for the purposes 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 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 shall not decline to provide information solely because the request does not include all the information required under Article 5 if the info ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ragraph 1 of this Article and shall thereupon have effect forthwith. ARTICLE 12 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 through diplomatic channels. 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. In witness whereof, the undersigned, being duly authorised thereto, have signed this Agreement. DONE in duplicate at Rome (Italy) on the 19th day of December, 2013, each in the Hindi, Italian and English languages, all texts being equally authentic. In case of divergence of interpretation, the English text shall prevail. - Notification Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - ..... X X X X Extracts X X X X X X X X Extracts X X X X
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