(1) This Agreement shall apply to taxes on income imposed on behalf of a Contracting State or of its political subdivisions or local authorities, irrespective of the manner in which they are levied.
(2) There shall be regarded as taxes on income all taxes imposed on total income, or on elements of income, including taxes on gains from the alienation of movable or immovable property, taxes on the total amounts of wages or salaries paid by enterprises.
(3) The existing taxes to which this Agreement shall apply are, in particular:
- (a) in the case of the U.A.E.:
- (i) the income tax;
- (ii) the corporate tax;
- (hereinafter referred to as "U.A.E. tax");
- (b) in the case of the Republic of Serbia:
- (i) the corporate income tax;
- (ii) the personal income tax;
- (hereinafter referred to as "Serbian tax").
(4) This Agreement shall apply also to any identical or substantially similar taxes that are imposed after the date of signature of this Agreement in addition to, or in place of, the existing taxes. The competent authorities of the Contracting States shall notify each other of any substantial changes, which have been made in their taxation laws.