ARTICLE 25
Exchange of Information
(1) The competent authorities of the Contracting States shall exchange such information as is foreseeably relevant for carrying out the provisions of this Convention or to the administration or enforcement of the domestic laws concerning taxes covered by the Convention insofar as the taxation there under is not contrary to the Convention. The exchange of information is not restricted by Article (1) of this Convention.
(2) Any information received by virtue of paragraph (1) of this Article by a Contracting State shall be treated as confidential 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 referred to in paragraph (1) of this Article, the enforcement or prosecution in respect of such taxes, or the determination of appeals in relation to such taxes. 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. Notwithstanding the foregoing, information received by a Contracting State may be used for other purposes when such a possibility results from the laws of the two States and when the competent authority of the State supplying the information authorizes such use.
(3) The provisions of paragraphs (1) and (2) of this Article may in no way be construed so as to impose on a Contracting State the obligation:
- (a) to 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 normal course of the administration of that or of the other Contracting State;
- (c) to supply information which would disclose any trade, industrial, professional secret or trade process, or information the disclosure of which would be contrary to public order.
(4) If information is requested by a Contracting State in accordance with this Article, the other Contracting State shall use the powers at its disposal to obtain the requested information, even if it does not need it for its own tax purposes. The obligation contained in the preceding sentence is subject to the limitations referred to in paragraph (3) of this Article unless these limitations are likely to prevent a Contracting State from disclosing information solely because it is not of any interest to it in the national context.
(5) In no case shall the provisions of paragraph (3) of this Article be construed so as to permit a Contracting State to decline to supply information solely because the information is held by a bank, any other financial institution, nominee or person acting as an agent or trustee or because it relates to the property rights of a person. For obtaining the information referred to in this paragraph, notwithstanding paragraph (3) of this Article or contrary provisions of the domestic law of a Contracting State, the tax authorities of the requested Contracting State shall have the power to get the disclosure of information referred to in this paragraph, provided that this is necessary for the fulfilment of the obligations contained in this paragraph.