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TMI BlogAgreement between the Government of the Republic of India and Government of Republic of India and the Government of Greece for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxesX X X X Extracts X X X X X X X X Extracts X X X X ..... ject of the present Agreement are: (a) in India: the income-tax, the super tax, the surcharge, imposed under the Income-tax Act, 1961 (43 of 1961) (hereinafter referred to as "Indian tax"); (b) in Greece: the tax on physical persons and the income-tax on legal entities, and any special tax levied in Greece with reference to freight earned by shipping enterprises by the carriage of passengers, livestock or goods, imposed under the Royal Decrees No. 3323/1955 and 3843/1958 and the Law No. 1880/1951 (hereinafter referred to as "Greek tax"). 2. The present Agreement shall also apply to any other taxes of substantially similar character imposed in India or Greece subsequent to the date of signature of the present Agreement. ARTICLE 2 DEFINITIONS 1. In the present Agreement, unless the context otherwise requires, -- (a) the term "Greece" means the territory of the Kingdom of Greece; (b) the terms "one of the territories" and "the other territory" mean Greece or India as the context requires; (c) the term "person" includes natural persons, companies and all other entities which are treated as taxable units und ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se in the first-mentioned territory, only if-- (1) he has and habitually exercises in the first-mentioned territory a general authority to negotiate and enter into contracts for or on behalf of the enterprise, unless the activities of the person are limited exclusively to the purchase of goods or merchandise for the enterprise, or (2) he habitually maintains in the first-mentioned territory a stock of goods or merchandise belonging to the enterprise from which the person regularly delivers goods or merchandise for or on behalf of the enterprise, or (3) he habitually secures orders in the first-mentioned territory wholly or almost wholly for the enterprise itself or for the enterprise and other enterprises which are controlled by it or have a controlling interest in it; (ee) a broker of a genuinely independent status who merely acts as an intermediary between an enterprise of one of the territories and a prospective customer in the other territory shall not be deemed to be a permanent establishment of the enterprise in the last-mentioned territory; (ff) the fact that a company, which is a resident of one of the territories has a subsidiary company which either is a residen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lties, the profits attributable to the establishment may be estimated on a reasonable basis. 3. For the purposes of this Agreement the term "industrial or commercial profits" shall not include income in the form of rents, royalties, interest, dividends, management charges, remuneration for labour or personal services or income from the operation of ships or aircraft. ARTICLE 4 BUSINESS PROFIT Where -- (a) an enterprise of one of the territories participates directly or indirectly in the management, control or capital of an enterprise of the other territory, or (b) the same persons participate directly or indirectly in the management, control or capital of an enterprise of one of the territories and an enterprise of the other territory, and in either case conditions are made or imposed between the two enterprises, in their commercial or financial relations, which differ from those which would be made between independent enterprises, then any profits which but for those conditions would have accrued to one of the enterprises but by reasons of those conditions have not so accrued may be included in the profits of that enterprise and taxed accordingly. ARTICLE 5 AI ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... yalty" means any royalty or other like amount received as consideration for the right to use copyrights, artistic or scientific works, cinematographic films, patents, models, designs, plans, secret processes or formulae, trademarks and other like property or rights, but does not include any royalty or other like amount in respect of the operation of mines, quarries or other natural resources. ARTICLE 8 DIVIDENDS Dividends paid by a company which is a resident of one of the territories to a resident of the other territory may be taxed only in the first-mentioned territory. ARTICLE 9 INTEREST ON BONDS Interest on bonds, securities, notes, debentures or any other form of indebtedness derived by a resident of one of the territories from sources in the other territory may be taxed only in that other territory. ARTICLE 10 INCOME FROM IMMOVABLE PROPERTY Income from immovable property may be taxed only in the territory in which the property is situated. For this purpose, any rent or royalty or other income derived from the operation of a mine, quarry or any other place of extraction of natural resources shall be regarded as income from immovable property. ARTICLE 11 CAPITAL ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be taxed in India on the profits or remuneration referred to in paragraph (1) if-- (a) he is temporarily present in India for a period or periods not exceeding in the aggregate 183 days during the relevant "previous year", (b) the services are rendered for or on behalf of a resident of Greece, (c) the profits or remuneration are subject to Greek tax, and (d) the profits or remuneration are not deducted in computing the profits of an enterprise chargeable to Indian tax. 4. Where an individual permanently or predominantly performs services on ships or aircraft in international traffic operated by an enterprise of one of the territories, profits or remuneration from such services may be taxed only by the country of which the individual is resident. ARTICLE 15 PROFESSORS AND TEACHERS A professor or teacher from one of the territories, who receives remuneration for teaching, during a period of temporary residence not exceeding two years, at a university, college, school or other educational institution in the other territory, shall not be taxed in that other territory in respect of that remuneration. ARTICLE 16 STUDENTS AND APPRENTICES An individual from one of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ority of one of the territories which would disclose any trade, business, industrial or professional secret or any trade process to the authority of the other territory. ARTICLE 19 MUTUAL AGREEMENT PROCEDURE Where a resident of one of the territories shows proof that the action of the taxation authorities of the other territory has resulted or will result in double taxation contrary to the provisions of the present Agreement, he shall be entitled to present his case to the competent authority of the territory of which he is resident. Should his claim be deemed worthy of consideration, the competent authority to which the claim is made shall endeavour to come to an Agreement with the competent authority of the other territory with a view to avoiding double taxation. ARTICLE 20 ENTRY INTO FORCE 1. The present Agreement shall be ratified and the instruments of ratification shall be exchanged at New Delhi as soon as possible. 2. Upon exchange of the instruments of ratification, the present Agreement shall have effect-- (a) in India, for any year of assessment, beginning on or after the 1st April, 1964, (b) in Greece, for any fiscal year, beginning on or after the 1st January ..... X X X X Extracts X X X X X X X X Extracts X X X X
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