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Article 26 Exchange of information

Article 26
Exchange of information

 

1) The competent authorities of the Contracting States shall exchange such information which may be assumed that they are relevant to the implementation of the provisions of this Agreement or relating to the administration or enforcement of national laws that apply to taxes of every kind and description imposed on behalf Contracting States or their political subdivisions or local authorities, insofar as the taxation thereunder is not contrary to the Treaty. Exchange of information is not restricted by Articles 1 and 2.

2) Any information received by a Contracting State under paragraph 1 shall be kept secret in the same manner as information obtained under the domestic laws of that State and shall be disclosed only to persons or authorities (including courts and administrative bodies) concerned with the assessment or collection of taxes, which are referred to in paragraph 1, the enforcement or prosecution in respect of such taxes, the determination of appeals in relation to such taxes or oversight of the above. Such persons or authorities shall use the information only for such purposes. They may disclose the information in public court proceedings or in judicial decisions.

3) The provisions of paragraphs 1 and 2 be construed in any way so as to impose on a Contracting State the obligation:

a) carry out administrative measures at variance with the laws and administrative practice of that or of the other Contracting State;

b) to supply information which is not obtainable under the laws or in the current administration of that or of the other Contracting State;

c) to supply information which would disclose any trade, business, industrial, commercial or professional secret or trade process, or information the disclosure of which would be contrary to public policy.

4) Where, in accordance with this Article by a Contracting State requested information, the other Contracting State shall apply its measures aimed at gathering information to obtain the required information, even though that other State does not need such information for its own tax purposes. The obligation contained in the preceding sentence is subject to the limitations of paragraph 3 but in no case shall such limitations be construed to permit a Contracting State to decline to supply information solely because it has no domestic interest in such information.

5) The provisions of paragraph 3 shall in no case be interpreted to permit a Contracting State to decline to supply information solely because the information has a bank, financial institution, trustee or person acting on behalf of or as agent, or because information relates to ownership interests in a person. "