Taxes on income: Convention covers each contracting state's income taxes and similar successors, with mutual annual notifications. Article 2 establishes that the Convention applies to taxes on income levied by each Contracting State or its sub divisions, covering taxes on total income ... Summary
Taxes on income: Convention covers each contracting state's income taxes and similar successors, with mutual annual notifications.
Article 2 establishes that the Convention applies to taxes on income levied by each Contracting State or its sub divisions, covering taxes on total income and all elements of income-including gains from transfers and wages-and lists representative existing taxes in each State. It also applies to identical or substantially similar successor taxes and requires annual mutual notification by competent authorities of significant changes in taxation laws.
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