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Article 2 TAXES COVERED

Article 2
TAXES COVERED

 

1. This Agreement shall apply to taxes on income imposed in each Contracting State, in accordance with the laws of each Contracting State, irrespective of the manner in which they are levied.

2. There shall be regarded as taxes on income all taxes imposed on total income or on elements of income, including taxes on gains from the alienation of movable or immovable property.

3. The existing taxes to which the Agreement shall apply are in particular:

a) in the case of the Russian Federation:

(i) tax on profits (income) of enterprises and organisations;

(ii) the income tax on individuals (hereinafter referred to as "Russian tax");

b) in the case of Singapore:

- the income tax (hereinafter referred to as "Singapore tax").

4. The Agreement shall also apply to any identical or substantially similar taxes on income which are imposed after the date of signature of this Agreement in addition to, or in place of the existing taxes. The competent authorities of the Contracting States shall notify each other of any substantial changes which have been made in their respective taxation laws.