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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.

ARTICLE 9

Associated Enterprises

Where:

  • (a) an enterprise of a Contracting State, directly or indirectly, participates in the management, control or capital of an enterprise of the other Contracting State, or
  • (b) the same persons, directly or indirectly, participate in the management, control or capital of an enterprise of a Contracting State and an enterprise of the other Contracting State,

and in either case, conditions are imposed on or agreed between the two enterprises in their commercial or financial relations, which differ from those that would have been agreed between independent enterprises, then any profits that would have accrued to one of the enterprises, but for those conditions have not so accrued, may be included in the profits of that enterprise and taxed accordingly.