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PROTOCOL

PROTOCOL TO THE CONVENTION BETWEEN THE GOVERNMENT OF THE REPUBLIC OF SAN MARINO AND THE GOVERNMENT OF SAINT KITTS AND NEVIS FOR THE AVOIDANCE OF DOUBLE TAXATION WITH RESPECT TO TAXES ON INCOME

When signing the Convention concluded today between the Government of the Republic of San Marino and the Government of Saint Kitts and Nevis for the avoidance of double taxation with respect to taxes on income, the following additional provisions forming integral part of this Convention have been agreed upon.

It is understood that:

(1) With respect to paragraph (1), point (e) of Article 3, in San Marino a trust shall be treated as a body corporate for tax purposes where and only to the extent in which such trust is subject to San Marino income tax.

(2) With respect to paragraph (2) of Article 5, a "permanent establishment" may include a server.

(3) With respect to Article 8, profits from the operation of ships or aircraft in international traffic shall include:

  • (a) profits deriving from the bareboat charter of ships and aircraft operated in international traffic;
  • (b) profits deriving from the use or letting of containers where such profits are occasional and secondary in respect of other profits deriving from the operation of ships or aircraft in international traffic.

(4) The provisions in paragraph (3) of Article 28 shall not prejudice the power of the competent authorities to determine, by mutual agreement, other procedures for the application of the limitations set forth in this Convention.

IN WITNESS THEREOF, the undersigned, being duly authorised thereto by their respective Governments, have signed this Protocol.

DONE induplicate at New York on 20th April 2010, in the Italian and English languages, all texts being equally authentic. In case of divergence between the texts the English text shall prevail.

FOR THE GOVERNMENT OF SAINT KITTS AND NEVIS:

H.E. MR. DELANO BART

PERMANENT REPRESENTATIVE TO THE UN

FOR THE GOVERNMENT OF THE REPUBLIC OF SAN MARINO:

DANIELE D. BODINI

PERMANENT REPRESENTATIVE TO THE UN