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TMI BlogDiplomatic and Consular OfficialsX X X X Extracts X X X X X X X X Extracts X X X X ..... d otherwise be accorded by [this Agreement], other than a benefit under [paragraph 3 of Article 4, Article 9 of this Agreement as modified by Paragraph 1 of Article 17 of 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 individual; (b) that [Contracting State], or a political subdivision or local authority thereof, or an agency or instrumentality of any such [Contracting State], p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... me 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 supervision or administration of a group of companies; (iii) providing group financing (including cash pooling); or (iv) making or managing investments, unless these activities are carried on by a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tly 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 object and purpose of [the Agreement], but only if such resident demonstrates to the satisfaction of such competent authority that neither its establishment, acquisition or maintenance, nor the conduct of its operations ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t 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; (e) 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 company, at least 50 per cent of the aggregate vote and value of the company's shares) or another person owns, directly or indirectly, at least 50 per cent of the beneficial interest (or, in the case of a company, at least 50 per cent of the aggregate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0 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, insurance enterprise or registered securities dealer, respectively). Paragraph 3 of Article 10 of the MLI If benefits under [the Agreement] are denied pursuant to paragraph 1 [of Article 10 of the MLI] with respect to an item of income derived by a resident of a [Contractin ..... X X X X Extracts X X X X X X X X Extracts X X X X
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