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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 5

Exchange of Information Upon Request

(1) The competent authority of the Requested Party shall provide upon request in writing information for the purposes referred to in Article 1. Such information shall be exchanged without regard to whether the Requested Party needs such information for its own tax purposes or the conduct being investigated would constitute a crime under the laws of the Requested Party if such conduct occurred in the Requested Party.

(2) If the information in the possession of the competent authority of the Requested Party is not sufficient to enable it to comply with the request for information, that Contracting Party shall use all relevant information gathering measures to provide the Requesting Party with the information requested, notwithstanding that the Requested Party may not need such information for its own tax purposes.

(3) If specifically requested by the competent authority of the Requesting Party, the competent authority of the Requested Party shall provide information under this Article, to the extent allowable under its domestic laws, in the form of depositions of witnesses and authenticated copies of original records.

(4) Each Contracting Party shall ensure that its competent authorities, for the purposes of this Agreement, have the authority to obtain and provide upon request:

  • (a) information held by banks, other financial institutions, and any person, including nominees and trustees, acting in an agency or fiduciary capacity;
  • (b)
    • (i) information regarding the legal ownership and the beneficial ownership of companies, partnerships, collective investment schemes, and other persons;
    • (ii) in the case of trusts, information on settlors, trustees, beneficiaries and protectors; and
    • (iii) in the case of a foundation, information on the founders, members of the foundation council and beneficiaries.

(5) The competent authority of the Requesting Party shall provide the following information to the competent authority of the Requested Party:

  • (a) the identity of the person under examination or investigation;
  • (b) the period of time with respect to which information is requested;
  • (c) the nature of the information requested and the form in which the Requesting Party wishes to receive it;
  • (d) the tax purposes for which the information is sought;
  • (e) grounds for believing that the information requested is present in the Requested Party or is in the possession of, or in the control of or obtainable by a person within the jurisdiction of the Requested Party;
  • (f) to the extent known, the name and address of any person believed to be in possession of or control of or able to obtain the requested information;
  • (g) a statement that the request conforms with the law and administrative practices of the Requesting Party;
  • (h) a statement that the Requesting Party has pursued all means available in its own territory to obtain the information, except where that would give rise to disproportionate difficulties.

(6) To ensure a prompt response, the competent authority of the Requested Party shall:

  • (a) confirm the receipt of a request in writing to the competent authority of the Requesting Party and shall notify the competent authority of the Requesting Party of any deficiencies in the request within 60 days of receipt of the request;
  • (b) if the competent authority of the Requested Party has been unable to obtain and provide the information within 90 days of receipt of the request, it shall inform the Requesting Party, explaining the reason for its inability.