Act Approving The Protocol, Done At Brussels On 8 March 2010, Amending The Convention Between The Kingdom Of Belgium And The Republic Of Korea For The Avoidance Of Double Taxation And Fiscal Evasion With Respect To Taxes On Income,

Original Language Title: Loi portant assentiment au Protocole, fait à Bruxelles le 8 mars 2010, modifiant la Convention entre le Royaume de Belgique et la République de Corée tendant à éviter la double imposition et à prévenir l'évasion fiscale en matière d'impôts sur le revenu,

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belgiquelex.be - Carrefour Bank of Legislation

26 DECEMBER 2013. - An Act to approve the Protocol, made in Brussels on 8 March 2010, amending the Convention between the Kingdom of Belgium and the Republic of Korea to avoid double taxation and to prevent tax evasion on income tax, signed in Brussels on 29 August 1977, as amended by the Additional Convention signed in Brussels on 20 April 1994 (1) (2) (3)



PHILIPPE, King of the Belgians,
To all, present and to come, Hi.
The Chambers adopted and We sanction the following:
Article 1er. This Act regulates a matter referred to in Article 77 of the Constitution.
Art. 2. The Protocol, made in Brussels on 8 March 2010, amending the Convention between the Kingdom of Belgium and the Republic of Korea to avoid double taxation and to prevent tax evasion on income tax, signed in Brussels on 29 August 1977, as amended by the Additional Convention signed in Brussels on 20 April 1994, will come out its full and full effect.
Promulgation of this law, let us order that it be clothed with the seal of the State and published by the Belgian Monitor.
Given at Ciergnon, December 26, 2013.
PHILIPPE
By the King:
Deputy Prime Minister and Minister for Foreign Affairs,
Didier REYNDERS
Minister of Finance,
Koen Geens
Seal of the state seal:
The Minister of Justice,
Ms. A. TURTELBOOM
____
Notes
(1) Senate (www.senate.be):
Documents: 5-2121
Annales du Senate: 07/18/2013
House of Representatives (www.lachambre.be):
Documents: 53-2976
Full report: 14/11/2013.
(2) Entry into force : 01/12/2015
(3) See Decree of the Flemish Community/Flemish Region of 7 June 2013 (Belgian Monitor of 3 July 2013), Decree of the German-speaking Community of 17 September 2013 (Belgian Monitor of 9 October 2013), Decree of the Walloon Region of 16 October 2015 (Belgian Monitor of 29 October 2015), Order of the Brussels-Capital Region of 27 March 2014 (Belgium Monitor of 9 May 2014).
Translation
PROTOCOL MODIFIANT LA CONVENTION ENTER LE ROYAUME DE BELGIQUE ET LA REPUBLIQUE DE COREE TENDANT A EVITER LA DOUBLE IMPOSITION ET A PREVENIR L'EVASION FISCALE EN MATIERE D'IMPOTS SUR LE REVENU, SIGNEE A BRUXELLES LE 29 AOUT 1977, TELLE QUE MODIFIEE PAR LA CONVENTION ADDITIONNELLE SIGNEE A BRUXELLES LE 20 AVRIL 1994
THE GOVERNMENT OF THE BELGIUM ROYAUME
and
THE GOVERNMENT OF THE REPUBLIC OF COREE
(hereinafter referred to as "contracting States"),
DESIREUX to amend the Convention between the Kingdom of Belgium and the Republic of Korea to avoid double taxation and to prevent tax evasion on income tax, signed in Brussels on 29 August 1977, as amended by the Additional Convention signed in Brussels on 20 April 1994 (hereinafter referred to as the "Convention"),
AGAINST the following:
ARTICLE 1er
The text of Article 25 of the Convention is replaced by the following provisions:
1. The competent authorities of the Contracting States shall exchange the information likely to be relevant to the application of the provisions of this Convention or for the administration or application of the domestic law relating to the taxation of any kind or denominations perceived by or on behalf of the Contracting States to the extent that the taxation it provides is not contrary to the Convention. The exchange of information is not restricted by sections 1er and 2.
2. Information received under paragraph 1er by a Contracting State shall be held secret in the same manner as the information obtained under the domestic law of that State and shall be communicated only to the persons or authorities (including the courts and administrative bodies) concerned by the establishment or collection of the taxes referred to in paragraph 1er, by the procedures or prosecutions relating to these taxes, by decisions on remedies relating to these taxes, or by the control of the foregoing. These individuals or authorities only use this information for these purposes. They may disclose this information in public court hearings or judgments.
3. The provisions of paragraphs 1erand 2 may in no case be construed as imposing on a Contracting State the obligation:
(a) take administrative measures derogating from its legislation and administrative practice or those of the other Contracting State;
(b) provide information that could not be obtained on the basis of its legislation or in the course of its normal administrative practice or those of the other Contracting State;
(c) provide information that would reveal a commercial, industrial, professional or commercial secret or information that would be contrary to public order.
4. If information is requested by a Contracting State in accordance with the provisions of this Article, the other Contracting State shall use the powers available to it to obtain the information requested, even if it does not need it for its own tax purposes. The obligation contained in the preceding sentence shall be subject to the limitations provided for in paragraph 3 of this article unless these limitations are likely to prevent a Contracting State from communicating information solely because it does not have an interest in it in the national context.
5. The provisions of paragraph 3 of this article shall not, in any case, be construed as permitting a Contracting State to refuse to disclose information solely because such information is held by a bank, other financial institution, trust, foundation, agent or person acting as an agent or trustee or because such information relates to the property rights of a person. In order to obtain this information, the tax administration of the requested Contracting State has the power to request the communication of information and to conduct investigations and hearings notwithstanding any contrary provision of its domestic tax legislation. "
ARTICLE 2
Each Contracting State shall notify, through diplomatic channels, the other Contracting State of the fulfilment of the procedures required by its legislation for the entry into force of this Protocol. This Protocol shall enter into force on the date of receipt of the second notification and shall apply:
(a) taxes due to the source on income awarded or paid from 1er January of the year immediately following that of the entry into force of the Protocol;
(b) other taxes on taxable period income beginning on or after 1er January of the year immediately following that of the entry into force of the Protocol;
(c) in respect of other taxes collected by or on behalf of the Contracting States, any other tax due to taxable events occurring from 1er January of the year immediately following that of the entry into force of the Protocol.
ARTICLE 3
This Protocol, which is an integral part of the Convention, will remain in force as long as the Convention remains in force and will apply as long as the Convention itself is applicable.
IN WITNESS WHEREOF, the undersigned, duly authorized by their respective Governments, have signed this Protocol.
DONE in Brussels on 8 March 2010, in duplicate, in the English language.

PROTOCOL AMENDING THE CONVENTION BETWEEN THE KINGDOM OF BELGIUM AND THE REPUBLIC OF KOREA FOR THE AVOIDANCE OF DOUBLE TAXATION AND THE PREVENTION OF FISCAL EVASION WITH RESPECT TO TAXES ON INCOME, SIGNED AT BRUSSELS ON 29 APRIUGUST 1977, AS AMENDED BY THE SUPPLEMENTARY CONVENTION
ARTICLE 1
The text of Article 25 of the Convention shall be replaced by the following:
“1. The competent authorities of the Contracting States shall exchange such information as is foeseeably relevant for carrying out the provisions of this Convention or to the administration or enforcement of the domestic laws concerning taxes of every kind and description imposed by or on behalf of the Contracting States, insofar as the taxation thereunder is not contrary to the Convention. The exchange of information is not restricted by Articles 1 and 2.
2. Any information received under paragraph 1 by a Contracting State shall be treated as secret in the same manner as information obtained under the domestic laws of that State and shall be disclosed only to persons or authorities (including courts and administrative bodies) concerned with the assessment or collection of, the enforcement or prosecution in respect of, the determination of appeals in relation to the taxes referred to in paragraph 1, or the oversight of the above. Such persons or authorities shall use the information only for such purposes. They may disclose the information in public court proceedings or in judicial decisions.
3. In no case shall the provisions of paragraphs 1 and 2 be construed so as to impose on a Contracting State the obligation:
(a) to carry out administrative measures at variance with the laws and administrative practice of that or of the other Contracting State;
(b) to supply information which is not obtainable under the laws or in the normal course of the administration of that or of the other Contracting State;
(c) to supply information which would disclose any trade, business, industrial, commercial or professional secret or trade process, or information, the disclosure of which would be contrary to public policy (ordre public).
4. If information is requested by a Contracting State in accordance with this Article, the other Contracting State shall use its information gathering measures to obtain the requested information, even though that other State may not need such information for its own tax purposes. The obligation contained in the preceding sentence is subject to the limitations of paragraph 3 of this Article but in no case shall such limitations be construed to permit a Contracting State to decline to supply information solely because it has no domestic interest in such information.
5. In no case shall the provisions of paragraph 3 of this Article be construed to permit a Contracting State to decline to supply information solely because the information is held by a bank, other financial institution, trust, foundation, nominee or person acting in an agency or a fiduciary capacity or because it relates to ownership interests in a person. In order to obtain such information the tax administration of the requested Contracting State shall have the power to ask for the disclosure of information and to conduct investigations and hearings notwithstanding any contrary provisions in its domestic tax laws. "
ARTICLE 2
Each Contracting State shall notify the other, through diplomatic channels, of the completion of the procedures required by its law for the entry into force of this Protocol. This Protocol shall enter into force on the date of receipt of the later of these notifications and its provisions shall have effect:
(a) with respect to taxes due at source on income credited or payable on or after the first day of January of the year next following that in which the Protocol enters into force;
(b) with respect to other taxes charged on income of taxable periods beginning on or after the first day of January of the year next following that in which the Protocol enters into force;
(c) with respect to any other taxes imposed by or on behalf of the Contracting States, on any other tax due in respect of taxable events taking place on or after the first day of January of the year next following that in which the Protocol enters into force.
ARTICLE 3
This Protocol, which shall form an integral part of the Convention, shall remain in force as long as the Convention remains in force and shall apply as long as the Convention itself is applicable.
IN WITNESS WHEREOF, the undersigned, being duly authorized thereto by their respective Governments, have signed this Protocol.
DONE in duplicate at Brussels, on this 8 th day of March 2010, in the English language.