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Note: This Treaty may be impacted by the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (MLI). MLI impact on Tax Treaties is available with the Orbitax International Tax Research & Compliance Expert.

PROTOCOL

At the time of signing the Convention between the Government of the Republic of Costa Rica and the Government of the United Arab Emirates for the Elimination of Double Taxation with Respect to Taxes on Income and on Capital Gains and the Prevention of Tax Evasion and Avoidance, the undersigned being duly authorized thereto have agreed upon the following provisions which shall be an integral part of this Agreement:

(1) with reference to the Convention as a whole, it is understood that:

  • (a) Notwithstanding any other provision of this convention nothing shall affect the right of either one of the Contracting States, or of any of their local Governments or local authorities thereof to apply their domestic laws and regulations related to the taxation of income and gains derived from natural resources, situated in the territory of the respective Contracting State, as the case may be.

(2) With respect to paragraph (3) of Article 4, paragraph (3) of Article 10, and paragraph (3) of Article 11, the terms "qualified government entity" and "pension fund" shall include the following entities:

  • (a) in the case of the United Arab Emirates:
    • (i) Abu Dhabi Investment Authority;
    • (ii) Abu Dhabi Investment Council;
    • (iii) Mubadala Investment Company (Mubadala);
    • (iv) Dubai World;
    • (v) Investment Corporation of Dubai (ICD);
    • (vi) Emirates Investment Authority;
    • (vii) International Petroleum Investment Company (IPIC), and its successors and assignees;
    • (viii) Abu Dhabi Retirement Pensions and Benefits Fund;
    • (ix) General Pension and Social Security Authority; and
    • (x) any other entity the capital of which is wholly owned directly or indirectly, by the federal or local Governments of the United Arab Emirates, including a political subdivision, local government and local authority thereof as shall be exchanged from time to time between the Governments of the Contracting States through notifications by the competent authorities.
  • (b) in the case of the Republic of Costa Rica any entity the capital of which is wholly owned directly or indirectly, by the Government of the Republic of Costa Rica, as shall be exchanged from time to time between the Governments of the Contracting States through notifications by the competent authorities.

(3) With respect to paragraph (4) of Article 13 of the Convention, it is understood that the term "recognized stock exchange" means:

  • (i) In the case of the United Arab Emirates:
    • (a) Dubai Financial Market;
    • (b) Abu Dhabi Global Market;
    • (c) Abu Dhabi Securities Exchange;
    • (d) Nasdaq Dubai;
    • (e) Dubai Financial Market,
    • (f) Dubai Gold and Commodities Exchange; and
    • (g) Any successors thereto, and any other United Arab Emirates securities or commodities exchange recognized under the laws of the United Arab Emirates.
  • (ii) In the case of the Republic of Costa Rica: any securities or commodities exchange recognized under the laws of Republic of Costa Rica.

(4) With reference to the final sentence of paragraph (2) of Article 26 of this Convention it is understood that:

The “other purposes” shall accord with an existing international agreement or protocol to which both Contracting States are party relating to mutual legal assistance;

In seeking the authorization of the competent authority of the supplying State, the requesting State shall specify the other non-tax purposes for which it wishes to use the information;

The requesting State shall identify the legal agencies or judicial authorities with whom it will share the information; and

It will be necessary to obtain the prior consent of the authority of the supplying State which signed the agreement or protocol in accordance with which the information will be used.

IN WITNESS WHEREOF, the undersigned, duly authorized thereto, have signed this Protocol.

DONE in duplicate at San José, 2017 on 30th of October, in two originals each in the Arabic, Spanish and English languages, all texts being equally authentic. In case there is any divergence of interpretation of any of the texts the English text shall prevail.

FOR THE GOVERNMENT OF THE REPUBLIC OF COSTA RICA:

FOR THE GOVERNMENT OF THE UNITED ARAB EMIRATES: