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TMI BlogMembers of diplomatic missions and consular postsX X X X Extracts X X X X X X X X Extracts X X X X ..... of a [ Contracting State ] shall not be entitled to a benefit that would otherwise be accorded by [ this Agreement ], other than a benefit under [ paragraph 3 of Article 4 of this Agreement as modified by paragraph 1 of Article 4 of the MLI, Article 9 of this Agreement as modified by Paragraph 1 of Article 17 of the MLI or Article 25 of this Agreement ], unless such resident is a qualified person , as defined in paragraph 9 [ of Article 7 of the MLI ] at the time that the benefit would be accorded. Paragraph 9 of Article 7 of the MLI A resident of a [ Contracting State ] to [ the Agreement ] shall be a qualified person at a time when a benefit would otherwise be accorded by [ the Agreement ] if, at that time, the resident is: (a) an individ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the person. Paragraph 10 of Article 7 of the MLI ( a ) A resident of a [ Contracting State ] will be entitled to benefits of [ the Agreement ] with respect to an item of income derived from the other [ Contracting State ], regardless of whether the resident is a qualified person, if the resident is engaged in the active conduct of a business in the first-mentioned [ Contracting State ], and the income derived from the other [ Contracting State ] emanates from, or is incidental to, that business. For purposes of the Simplified Limitation on Benefits Provision, the term active conduct of a business shall not include the following activities or any combination thereof: ( i ) operating as a holding company; ( ii ) providing overall supervisio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... respect to an item of income if, on at least half of the days of any twelve-month period that includes the time when the benefit would otherwise be accorded, persons that are equivalent beneficiaries own, directly or indirectly, at least 75 per cent of the beneficial interests of the resident. Paragraph 12 of Article 7 of the MLI If a resident of a [ Contracting State ] is neither a qualified person pursuant to the provisions of paragraph 9 [ of Article 7 of the MLI ], nor entitled to benefits under paragraph 10 or 11 [ of Article 7 of the MLI ], the competent authority of the other [ Contracting State ] may, nevertheless, grant the benefits of [ the Agreement ], or benefits with respect to a specific item of income, taking into account the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... State ], [ the Agreement ] or any other international instrument which are equivalent to, or more favourable than, benefits to be accorded to that item of income under [ the Agreement ]; for the purposes of determining whether a person is an equivalent beneficiary with respect to dividends, the person shall be deemed to hold the same capital of the company paying the dividends as such capital the company claiming the benefit with respect to the dividends holds; ( d ) with respect to entities that are not companies, the term shares means interests that are comparable to shares; two persons shall be connected persons if one owns, directly or indirectly, at least 50 per cent of the beneficial interest in the other (or, in the case of a compan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , any income to which the provisions of this paragraph apply shall remain taxable according to the domestic law of the other [ Contracting State ], notwithstanding any other provisions of [ the Agreement ]. Paragraph 2 of Article 10 of the MLI Paragraph 1 [ of Article 10 of the MLI] shall not apply if the income derived from the other [Contracting State ] described in paragraph 1 [ of Article 10 of the MLI ] is derived in connection with or is incidental to the active conduct of a business carried on through the permanent establishment (other than the business of making, managing or simply holding investments for the enterprise's own account, unless these activities are banking, insurance or securities activities carried on by a bank, i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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