I ASSENT International Co-Operation (Tax Information) INTERNATIONAL CO-OPERATION (TAX INFORMATION) ACT
2009 (GREECE) NOTICE 2013

© Government of Gibraltar (www.gibraltarlaws.gov.gi)
2009-50
Subsidiary
2013/023
Subsidiary Legislation made under s. 3(6).

INTERNATIONAL CO-OPERATION (TAX
INFORMATION) ACT 2009 (GREECE) NOTICE 2013

(LN. 2013/023)
Commencement 14.2.2013


Amending
enactments
Relevant current
provisions
Commencement
date
None



EU Legislation/International Agreements involved:

______________________


In accordance with the provisions of section 3(6) of the International Co-
operation (Tax Information) Act 2009 I have issued the following Notice.

Title.

1. This Notice may be cited as the International Co-operation (Tax
Information) Act 2009 (Greece) Notice 2013.

Text of Agreement.

2. Pursuant to section 3(6) of the International Co-operation (Tax
Information) Act 2009 the text of an agreement entered into between the
Government of the Hellenic Republic and the Government of Gibraltar is
hereby reproduced−
International Co-Operation (Tax Information) INTERNATIONAL CO-OPERATION (TAX INFORMATION) ACT
2009 (GREECE) NOTICE 2013

© Government of Gibraltar (www.gibraltarlaws.gov.gi)
2009-50
Subsidiary
2013/023 AGREEMENT BETWEEN GIBRALTAR
AND
THE HELLENIC REPUBLIC FOR THE EXCHANGE OF
INFORMATION RELATING TO TAX MATTERS

WHEREAS Gibraltar and the Hellenic Republic (the “Parties”)
recognise that present legislation already provides for cooperation and the
exchange of information in criminal tax matters;

WHEREAS the Parties have long been active in international efforts
in the fight against financial and other crimes, including the targeting of
terrorist financing;

WHEREAS it is acknowledged that Gibraltar under the Terms of its
Entrustment from the United Kingdom has the right to negotiate, conclude,
perform and, subject to the terms of this Agreement, terminate a Tax
Information Exchange Agreement with the Hellenic Republic;

WHEREAS Gibraltar on 27 February 2002 entered into a political
commitment to the OECD’s principles of effective exchange of information
relating to taxes;

WHEREAS the Parties wish to enhance and facilitate the terms and
conditions governing the exchange of information relating to taxes;

NOW, THEREFORE, the Parties have agreed to conclude the
following Agreement which contains obligations on the part of Gibraltar and
Greece only.
International Co-Operation (Tax Information) INTERNATIONAL CO-OPERATION (TAX INFORMATION) ACT
2009 (GREECE) NOTICE 2013

© Government of Gibraltar (www.gibraltarlaws.gov.gi)
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2013/023 Article 1
Object and Scope of the Agreement

1. The competent authorities of the Contracting Parties shall provide
assistance through exchange of information that is foreseeably relevant to the
administration and enforcement of the domestic laws of the Contracting
Parties concerning taxes covered by this Agreement, including information
that is foreseeably relevant to the determination, assessment and collection of
such taxes, the recovery and enforcement of tax claims, or the investigation
or prosecution of tax matters. Information shall be exchanged in accordance
with the provisions of this Agreement and shall be treated as confidential in
the manner provided in Article 8.

2. The rights and safeguards secured to persons by the laws or
administrative practice of the requested Contracting Party remain applicable
to the extent that they do not unduly prevent or delay effective exchange of
information.

Article 2
Jurisdiction

1. To enable the provisions of this Agreement to be implemented,
information shall be provided in accordance with this Agreement by the
competent authority of the Requested Party without regard to whether the
person to whom the information relates is, or whether the information is held
by, a resident or national or citizen of a Contracting Party.

2. A requested Contracting Party is not obligated to provide information
which is neither held by its authorities nor in the possession of, or in the
control of, or obtainable by persons who are within its territorial jurisdiction.

Article 3
Taxes Covered

1. The taxes which are the subject of this Agreement are:

(a) in the case of the Hellenic Republic

the income tax

the capital tax

the inheritance tax

the transfer tax
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the value added tax and

excise duties.

(b) in the case of Gibraltar

taxes of every kind and description.

2. This Agreement shall apply also to any identical or substantially similar
taxes imposed after the date of signature of the Agreement in addition to or
in place of the existing taxes if the Contracting Parties so agree. The
competent authorities of the Contracting Parties shall notify each other of
any substantial changes to the taxation and related information gathering
measures covered by the Agreement.

Article 4
Definitions

1. For the purposes of this Agreement, unless otherwise defined:

(a) the term “Hellenic Republic” means the territory of the Hellenic
Republic, including territorial sea and national airspace, as well as
the maritime areas, over which the Hellenic Republic exercises or
shall exercise sovereignty, sovereign rights or jurisdiction in
accordance with international law;

(b) the term “Gibraltar” comprises the territory of Gibraltar;

(c) “competent authority” means:

(i) in the case of the Hellenic Republic the Minister of
Finance or his authorized representative;

(ii) in the case of Gibraltar, the Minister of Finance or his
authorized representative;

(d) the term “person” includes an individual, a company and any
other body or group of persons;

(e) the term “company” means any body corporate or any entity
that is treated as a body corporate for tax purposes;

(f) the term “publicly traded company” means any company whose
principal class of shares is listed on a recognised stock exchange
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2013/023 provided its listed shares can be readily purchased or sold by the
public. Shares can be purchased or sold “by the public” if the
purchase or sale of shares is not implicitly or explicitly restricted
to a limited group of investors;

(g) the term “principal class of shares” means the class or classes of
shares representing a majority of the voting power and value of
the company;

(h) the term “recognised stock exchange” means any stock
exchange agreed upon by the competent authorities of the
Contracting Parties;

(i) the term “collective investment fund or scheme” means any
pooled investment vehicle, irrespective of legal form. The term
“public collective investment fund or scheme” means any
collective investment fund or scheme provided the units, shares
or other interests in the fund or scheme can be readily
purchased, sold or redeemed by the public. Units, shares or
other interests in the fund or scheme can be readily purchased,
sold or redeemed “by the public” if the purchase, sale or
redemption is not implicitly or explicitly restricted to a limited
group of investors;

(j) the term “tax” means any tax to which the Agreement applies;

(k) the term “Requesting Contracting Party” means the Contracting
Party requesting information;

(l) the term “Requested Contracting Party” means the Contracting
Party requested to provide information;

(m) the term “information gathering measures” means laws and
administrative or judicial procedures that enable a Contracting
Party to obtain and provide the requested information;

(n) the term “information” means any fact, statement, document or
record in any form whatever;

(o) the term “tax matters” means all tax matters including criminal
tax matters;

(p) “criminal tax matters” means tax matters involving intentional
conduct which is liable to prosecution under the criminal laws
of the requesting Contracting Party;
International Co-Operation (Tax Information) INTERNATIONAL CO-OPERATION (TAX INFORMATION) ACT
2009 (GREECE) NOTICE 2013

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(q) the term “criminal laws” means all criminal laws designated as
such under domestic law of irrespective of whether contained in
the tax laws, the criminal code or other statutes;

2. As regards the application of this Agreement at any time by a Contracting
Party, any term not defined therein shall, unless the context otherwise
requires, have the meaning that it has at that time under the law of that Party,
any meaning under the applicable tax laws of that Party prevailing over a
meaning given to the term under other laws of that Party.

Article 5
Exchange of Information Upon Request

1. The competent authority of the Requested Contracting Party shall
provide upon request by the Requesting Contracting Party information for
the purposes referred to in Article 1. Such information shall be provided
without regard to whether the conduct being investigated would constitute a
crime under the laws of the Requested Contracting Party.

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

3. If specifically requested by the competent authority of the Requesting
Contracting Party, the competent authority of the Requested Contracting
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, in
accordance with the terms 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 beneficial ownership of
companies, partnerships and other persons, including in the case
International Co-Operation (Tax Information) INTERNATIONAL CO-OPERATION (TAX INFORMATION) ACT
2009 (GREECE) NOTICE 2013

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2013/023 of collective investment funds and schemes, information on
shares, units and other interests;

(ii) in the case of trusts, information on settlors, trustees,
protectors and beneficiaries; and in the case of
foundations, information on founders, members of the
foundation council and beneficiaries,
provided that this Agreement does not create an obligation on the Contracting
Parties to obtain or provide ownership information with respect to publicly traded
companies or public collective investment schemes unless such information can
be obtained without giving rise to disproportionate difficulties.

5. Any request for information shall be formulated with the greatest detail
possible and shall specify in writing:

(a) the identity of the person under examination or investigation;

(b) the period for which the information is requested;

(c) the nature of the information sought and the form in which the
requesting Contracting Party would prefer to receive it;

(d) the tax purpose for which the information is sought;

(e) the reasons for believing that the information requested is
foreseeably relevant to the administration and enforcement of
the tax law of the Requesting Contracting Party, with respect to
the person identified in subparagraph a) of this paragraph;

(f) grounds for believing that the information requested is held in
the requested Contracting Party or is in the possession of or
obtainable by a person within the jurisdiction of the requested
Contracting Party;

(g) to the extent known, the name and address of any person
believed to be in possession of the requested information;

(h) a statement that the request is in conformity with the laws and
administrative practices of the Requesting Contracting Party,
that if the requested information was within the jurisdiction of
the Requesting Contracting Party then the competent authority
of the Requesting Contracting Party would be able to obtain the
information under the laws of the Requesting Contracting Party
or in the normal course of administrative practice and that it is
in the conformity with this Agreement;
International Co-Operation (Tax Information) INTERNATIONAL CO-OPERATION (TAX INFORMATION) ACT
2009 (GREECE) NOTICE 2013

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(i) a statement that the Requesting Contracting Party has pursued
all means available in its own territory to obtain the information,
except those that would give rise to disproportionate
difficulties.

6. The competent authority of the Requested Contracting Party shall:

(a) acknowledge receipt of the request in writing to the competent
authority of the Requesting Contracting Party and shall notify
the competent authority of the Requesting Contracting Party of
any deficiencies in the request within 60 days of the 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
the receipt of the request, it shall inform the Requesting Party,
explaining the reason(s) for its inability and the nature of the
obstacles.

Article 6
Tax Examinations or Investigations Abroad

1. The Requested Party may, to the extent permitted under its domestic
laws, following reasonable notice from the Requesting Party, allow
representatives of the competent authority of the Requesting Party to enter
the territory of the Requested Party to interview individuals and examine
records with the prior written consent of the persons concerned. The
competent authority of the Requesting Party shall notify the competent
authority of the Requested Party of the time and place of the meeting with
the persons concerned.

2. At the request of the competent authority of one Contracting Party, the
competent authority of the Requested Party may allow representatives of the
competent authority of the Requesting Contracting Party to be present at the
appropriate part of a tax examination in the territory of the Requested
Contracting Party.

3. If the request referred to in paragraph 2 is acceded to, the competent
authority of the Requested Party conducting the examination shall, as soon
as possible, notify the competent authority of the Requesting Contracting
Party of the time and place of the examination, the authority or official
authorised to carry out the examination and the procedures and conditions
required by the Requested Contracting Party for the conduct of the
International Co-Operation (Tax Information) INTERNATIONAL CO-OPERATION (TAX INFORMATION) ACT
2009 (GREECE) NOTICE 2013

© Government of Gibraltar (www.gibraltarlaws.gov.gi)
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2013/023 examination. All decisions regarding the conduct of the tax examination shall
be made by the Requested Party conducting the examination.

Article 7
Possibility of Declining a Request

1. The competent authority of the requested Contracting Party may decline
to assist where the request is not made in conformity with this Agreement or
where the disclosure of the information would be contrary to public policy
(ordre public).

2. The provisions of this Agreement shall not impose on a Contracting Party
the obligation to supply information subject to legal privilege, or to supply
information which would disclose any trade, business, industrial, commercial
or professional secret or trade process, provided that information described
in paragraph 4 of Article 5 shall not by reason of that fact alone be treated as
such a secret or trade process.

3. A request for information shall not be refused on the ground that the tax
claim giving rise to the request is disputed.

4. The Requested Contracting Party shall not be required to obtain and
provide information which the Requesting Contracting Party would be
unable to obtain under its own laws for the purpose of the administration or
enforcement of its own tax laws or in response to a valid request made in
similar circumstances from the Requested Party under this Agreement.

5. The requested Contracting Party may decline a request for information if
the information is requested by the Requesting Contracting Party to
administer or enforce a provision of the tax law of the Requesting
Contracting Party, or any requirement connected therewith, which
discriminates against a national or a citizen of the Requested Contracting
Party as compared with the national or the citizen of the Requesting
Contracting Party in the same circumstances.

Article 8
Confidentiality

1. Any information received by a Contracting Party under this Agreement
shall be treated as confidential and may be disclosed only to persons or
authorities (including courts and administrative bodies) in the jurisdiction of
the Contracting Party concerned with the assessment or collection of, the
enforcement or prosecution in respect of, or the determination of appeals in
relation to, the taxes covered by this Agreement. Such persons or authorities
shall use such information only for such purposes. They may disclose the
International Co-Operation (Tax Information) INTERNATIONAL CO-OPERATION (TAX INFORMATION) ACT
2009 (GREECE) NOTICE 2013

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2013/023 information in public court proceedings or in judicial decisions, if this is
provided for in the respective laws of the Contracting Parties. The
information may not be disclosed to any other person or entity or authority
or any other jurisdiction without the express written consent of the
competent authority of the requested Contracting Party.

2. Personal data may be transmitted to the extent necessary for carrying out
the provisions of this Agreement and subject to the provisions of the law of
the supplying Contracting Party.

3. The information provided to a Requesting Contracting Party under this
Agreement may not be disclosed to any other jurisdiction without the written
consent of the competent authority of the Requested Contracting Party.

Article 9
Administrative Costs

Unless the competent authorities of the Contracting Parties otherwise agree,
costs incurred in providing assistance shall be borne by the Requested Party,
unless they are agreed as extraordinary costs. At the request of either
Contracting Party, the competent authorities shall consult each other when
necessary with regard to this Article. In particular the competent authority
of the Requested Party shall consult with the competent authority of the
Requesting Party in advance if the costs of providing information with
respect to a specific request are expected to be extraordinary.


Article 10
Implementing Legislation

The Contracting Parties, shall enact any legislation necessary to comply with,
and give effect to, the terms of this Agreement.

Article 11
Mutual Agreement Procedure

1. Where difficulties or doubts arise between the Contracting Parties
regarding the implementation or interpretation of the Agreement, the
competent authorities shall endeavour to resolve the matter by mutual
agreement.

2.. In addition to the agreements referred to in paragraph 1, the competent
authorities of the Contracting Parties may mutually agree on the procedures
to be used under Articles 5 and 6.

International Co-Operation (Tax Information) INTERNATIONAL CO-OPERATION (TAX INFORMATION) ACT
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2013/023 3. The competent authorities of the Contracting Parties may communicate
with each other directly for purposes of reaching agreement under this
Article.

4. The Contracting Parties shall agree in writing on other forms of dispute
resolution should this become necessary.

Article 12
Language

Requests for assistance and answers thereto shall be drawn up in the English
language between the competent authorities of the Contracting Parties.

Article 13
Entry into Force

This Agreement shall enter into force when each Contracting Party has
notified the other of the completion of its necessary internal procedures for
entry into force. Upon the date of entry into force, it shall have effect on the
date on which the last notification is received:

(a) For criminal tax matters on that date; and

(b) For all other matters covered in Article 1, on that date, but only
in respect of taxable periods beginning on or after that date or,
where there is no taxable period, all charges to tax arising on or
after that date.

Article 14
Termination

1. This Agreement shall remain in force until terminated by a Contracting
Party. Either Contracting Party may terminate the Agreement, by giving
notice of termination directly in writing. Such termination shall become
effective on the first day of the month following the expiration of a period of
six months after the date of receipt of notice of termination by the other
Contracting Party.

2. Notwithstanding any termination of this Agreement the Contracting
Parties shall remain bound by the provisions of Article 8 with respect to any
information obtained under this Agreement.

IN WITNESS WHEREOF, the undersigned, being dully authorized thereto
by their respective Governments, have signed this Agreement.

International Co-Operation (Tax Information) INTERNATIONAL CO-OPERATION (TAX INFORMATION) ACT
2009 (GREECE) NOTICE 2013

© Government of Gibraltar (www.gibraltarlaws.gov.gi)
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2013/023 Done at London on 31
st January 2013, in duplicate, in the English and Greek
languages, both texts being equally authentic.



For Gibraltar For the Hellenic Republic
Gilbert Licudi QC Konstantinos Bikas
Minister with responsibility Ambassador
for Financial Services