The Double Taxation Relief (Taxes on Income)(Chile) Order 2003

CHAPTER I SCOPE OF THE CONVENTION

Article 1 PERSONS COVERED

This Convention shall apply to persons who are residents of one or both of the Contracting States.

Article 2 TAXES COVERED

(1) This Convention shall apply to taxes on income and on capital gains imposed on behalf of a Contracting State, irrespective of the manner in which they are levied.

(2) There shall be regarded as taxes on income and on capital gains 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 this Convention shall apply are, in particular:

(a) in the case of Chile, the taxes imposed under the Income Tax Act, “Ley sobre Impuesto a la Renta” (hereinafter referred to as “Chilean tax”); and

(b) in the case of the United Kingdom:

(i) the income tax;

(ii) the corporation tax, and

(iii) the capital gains tax,

(hereinafter referred to as “United Kingdom tax”).

(4) This Convention shall apply also to any identical or substantially similar taxes which are imposed after the date of signature of this Convention in addition to, or in place of, the existing taxes. The competent authorities of the Contracting States shall, at the end of each year or earlier, notify each other of any significant changes which have been made in their respective taxation laws.