The Tax Information Exchange Agreement (Taxes on Income) (Montserrat) Order 2005

1. Introductory Text

2. 1. Citation

3. 2. Declaration about exchange of information

4. Signature

5. 1. SCHEDULE

      1. PART 1 AGREEMENT ON THE TAXATION OF SAVINGS INCOME BETWEEN MONTSERRAT AND THE UNITED KINGDOM

      2. WHEREAS:

      3. 1. Article 17 of Directive 2003/48/EEC (“the Directive”) of the Council...

      4. 2. The relationship of Montserrat with the EU is set out...

      5. 3. Montserrat notes that, while it is the ultimate aim of...

      6. 4. Montserrat has agreed to apply automatic exchange of information in...

      7. 5. Montserrat has legislation relating to undertakings for collective investment that...

      8. Article 1 Reporting of Information by Paying Agents

         1. (1) Where interest payments, as defined in Article 5 of...

      9. Article 2 Definition of beneficial owner

         1. (1) For the purposes of this Agreement, “beneficial owner” shall...

      10. Article 3 Identity and residence of beneficial owners

          1. (1) Each Party shall, within its territory, adopt and ensure...

      11. Article 4 Definition of paying agent

          1. (1) For the purposes of this Agreement, `paying agent' means...

      12. Article 5 Definition of interest payment

          1. (1) For the purposes of this Agreement “interest payment” shall...

      13. Article 6 Transitional provisions for negotiable debt securities

          1. (1) During the transitional period referred to in Article 10...

      14. Article 7 Mutual agreement procedure

          1. Where difficulties or doubts arise between the parties regarding the...

      15. Article 8 Confidentiality

          1. (1) All information provided and received by the competent authority...

      16. Article 9 Entry into force

          1. This agreement shall enter into force on the thirtieth day...

      17. Article 10 Termination

          1. (1) This Agreement shall remain in force until terminated by...

      18. Article 11 Application and suspension of application

          1. (1) The application of this Agreement shall be conditional on...

      19. Annex: List of related entities

          1. For the purposes of Article 6 of this Agreement, the...

          2. Entities within the European Union:

          3. Belgium

          4. Spain

          5. Greece

          6. France

          7. Italy

          8. Latvia

          9. Poland

          10. Portugal

          11. Slovakia

          12. International entities:

          13. The provisions of Article 6 are without prejudice to any...

          14. Entities in third countries:

      20. PART II Exchange of Notes

          1. Note from Her Majesty’s Government

             1. Sir,

             2. I refer to the text of the proposed model “Agreement...

             3. In view of the above mentioned text, and respecting the...

             4. I have the honour to propose that, if the above...

             5. Please accept, Sir, the assurance of our highest consideration,

             6. Bill Rammell

             7. Parliamentary Under-Secretary of State for Foreign and Commonwealth Affairs

             8. For the Government of the United Kingdom

             9. Done in London on 22 July 2004 in three copies....

          2. Note from the Government of Montserrat

             1. Sir,

             2. I have the honour to acknowledge receipt of your letter...

             3. I am able to confirm that the Government of Montserrat...

             4. Please accept, Sir, the assurance of my highest consideration,

             5. John A Osborne

             6. Chief Minister

             7. For the Government of Montserrat

             8. Done in Montserrat on 16 December 2004 in three copies....

6. Explanatory Note