The Saeima has adopted and the President promulgated the following laws: For the Government of the Republic of Latvia and the Government of the Hellenic Republic to the Convention on the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and capital article 1. March 27, 2002, in Athens, in the Government of the Republic of Latvia signed, and the Government of the Republic of Greece, the Convention for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and on capital (hereinafter referred to as the Convention) with this law is accepted and approved. 2. article. The law shall enter into force on the date of its promulgation. To put the Convention by law Latvian and English. 3. article. The Convention shall enter into force on the 29th for the period specified in article and in order, and the Ministry of Foreign Affairs shall notify the newspaper "journal". The Parliament adopted the law of 20 June 2002. State v. President Vaira Vīķe-Freiberga in Riga on 3 July 2002, the GOVERNMENT of the Republic of Latvia and the GOVERNMENT of the Hellenic Republic to the Convention on the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and on capital the Government of the Republic of Latvia and the Government of the Republic of Greece, accepting his willingness to conclude a Convention for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and capital, agree on the following: chapter I scope of the Convention article 1 persons Covered by the Convention, this Convention shall apply to persons who have one or both of the Contracting States residents. Article 2 taxes covered by the CONVENTION (1) this Convention shall apply to taxes on income and capital, which is imposed on the Contracting State or of its local authorities, irrespective of the good this kind of taxation. 2. On the income and capital taxes, regarded all taxes imposed on total income, total capital or income or capital, including taxes on the capital gains of the moveable and immovable property seizures, and taxes on capital appreciation. 3. The existing taxes to which this Convention applies, in particular, is: (a)): (i) corporate income tax; (ii) the individual income tax; (iii) tax on immovable property; (hereinafter referred to as the Latvian tax); (b)) the Hellenic Republic: (i) the income and capital tax imposed on natural persons; (ii) the income and capital tax imposed on legal persons; (hereinafter referred to as the Greek tax). 4. This Convention shall apply also to any identical or substantially similar taxes which, supplementing or replacing the existing taxes will be introduced in a Contracting State after the date of signature of this Convention. Both the competent authorities of the Contracting States inform each other of any significant amendments to the national legislation of the relevant tax legislation.   Chapter II definitions article 3 General definitions 1. If the context does not otherwise specified, then this risk‐adjusted Convention: a) the terms "Contracting State" and "the other Contracting State" mean depending on the context or the Hellenic Republic of Latvia; (b)), the term "Latvia" means the Republic of Latvia, and, used in a geographical sense, it represents the territory of the Republic of Latvia and any other Latvian territorial waters adjacent to the territories in which, in accordance with the legislation of Latvia and international law can be implemented in Latvia of rights on land and sea depths and natural resources contained therein; (c)) the term "Greece" means the territory of the Republic of Greece, part of the sea and the Mediterranean Sea and part of the subsoils in which the Hellenic Republic in accordance with international law, sovereign rights with respect to natural resource exploration, acquisition and use; (d)) the term "person" means a natural person, company, or any other Association of persons; e the term "company") shall mean any corporate person, association or any entity for taxation purposes is considered a corporate Association of persons; (f) the terms ") of a Contracting State" and "enterprise of the other Contracting State" mean the company, run by a resident of a Contracting State and the company, run by a resident of the other Contracting State; (g)) the term "international traffic" means any transport by a ship or aircraft, except when the ship or aircraft moving only in the Contracting State; h) the term "competent authority" means: (i) in Latvia: the Ministry of finance or its authorised representative; (ii) the Hellenic Republic, the Minister of finance or his authorised representative; I) the term "national" means: (i) any natural person who has the nationality of a Contracting State; (ii) any legal person, partnership or association whose status stems from the existing Contracting State legislation. 2. a Contracting State at any time pursuant to this Convention, all terms not defined herein have the meanings in which they state the contracting legislation at that time used due to the taxes covered by the Convention, unless the context is otherwise, and the risk‐adjusted national tax legislation intended meaning prevails over other legislation that State the intended meaning. Article 4 resident 1. In this Convention, the term "resident of a Contracting State" means any person who, under the national provisions imposing taxes based on their place of residence, residence, location management, place of incorporation (registration) or any other similar criteria and also include national or local government. However, this term does not include those individuals in that State taxes are imposed only in respect of their income from this country to the existing sources of profit or the capital. 2. Where, in accordance with the provisions of part 1 an individual is a resident of both Contracting States, its status would be as follows: (a)) will be considered as the person only as a resident of the State in which they habitually resident; If you are habitually resident in two countries, this person will be considered only for residents of the State, with which it has closer personal and economic relations (Centre of vital interests); (b)) if it is not possible to determine the country in which that person is a vibrant centre of interests, or if it is not a permanent residence in one of the two countries, that person will be considered a resident of the country only, which is its usual home; c) if that person normally home in both countries or none of them, it will be considered only for residents of the country, of which this person; (d)) if that person is a national of both States or no citizen of this country, the competent authorities of the Contracting States shall settle the question by mutual agreement. 3. Where, in accordance with the provisions of part 1 a person other than an individual is a resident of both Contracting States, the competent authorities of the Contracting States shall endeavour to resolve the matter by mutual agreement, taking into account factors such as the actual place of management and the person's place of incorporation. Article 5 permanent establishment 1. In this Convention, the term "permanent establishment" means a fixed place of business of the company, which is wholly or partly carried on business. 2. The term "permanent establishment" includes: (a) the management of the company); b) branch; c) Office; (d) a factory;) e) workshop; and (f)) mine shaft, oil or gas extraction sites, quarries or any other place of extraction of natural resources. 3. A building site, a construction, Assembly or installation project or a supervisory or related advisory activities would be regarded as a permanent establishment only if these works, projects or activities take longer than nine months. 4. Notwithstanding the provisions of the preceding subparagraph, the term "permanent establishment" shall not include: (a) the use of buildings and equipment) only and exclusively the goods belonging to, or for the storage of the products demonstrated or supplies; (b) goods belonging to the company) or article items intended solely for storage, demonstration or delivery; (c) the goods belonging to the company) or article items intended exclusively for processing in the other company. (d) the specific site) designed exclusively for the purchase of goods or products or information collection needs; e) permanent site designed exclusively for making business arrangements or any other ancillary; f) specific action site intended solely to deal with (a) to (e))) the following, in any combination thereof, if the combination of the action are generally preparatory or auxiliary character. 5. Notwithstanding paragraph 1 and 2 of the regulations, if a person who is not referred to in part 6 status of independent agent, running your business, and it is empowered to enter into contracts on behalf of the company, and the State constantly use this power, then in all activities carried out by such person for your business, it is considered that the company has a permanent establishment in the country concerned, unless such person has carried out only part 4 actions foreseen in the that perform certain actions in place, this particular site in accordance with this part shall not be treated as a permanent establishment. 6. it will be considered that the company does not have permanent representation in the Contracting State where the undertaking is established in that country, only through brokers, sales agent or any other agent of an independent status, provided that such persons perform their normal business activities. However, if such an agent is completely or almost completely in favour of the company is carried out and if the relationship between the agent and the enterprise differ from the relations which should be established between independent persons, such agent shall not be considered an agent of an independent status within the meaning of this part. 7. the fact that the company is a resident of a Contracting State-controlled company, which is a resident of the other Contracting State, or which carries on business in that other State (via the permanent representations, or in any other way), or is subject to the control of such undertaking in itself does not mean that any of these companies is the second permanent representation of society.   Chapter III taxation of income article 6 INCOME from real property 1. income which a resident of a Contracting State from immovable property (including income from agriculture or forestry) situated in the other Contracting State may be taxed in that other State taxes. 2. The term "immovable property" have the meaning it has in its legislation of a Contracting State in which the property concerned is located. In any case, this term covers property which belongs to real estate property, livestock and equipment used in agriculture and forestry, rights to which the land property law general rules, any purchase of real property rights of use or similar right to acquire real estate, uzufrukt real estate and rights to variable or fixed payments as consideration for the mineral deposits, natural ore and other natural resources, or the right to use them. For real estate will not be considered to be ships, barges and aircraft. 3. the provisions of part 1 shall be applied in respect of income from real estate direct use, letting or use in any other way. 4. If the company's shares or other corporate rights give the holder the right to public use of the property, the income from the direct use, letting or use in any other way may impose taxes to the Contracting State in which the immovable property is situated. 5.1, 3, and part 4 of the rules will be applied also with regard to the income from immovable property of the company, as well as income from real property used for independent individual services. Article 7 business profits 1. Contracting State company profits will be taxable only in that State unless the enterprise carries on business in the other Contracting State through a permanent representation of the existing there. If the enterprise carries on business in that way, the company's profits may impose taxes in the other country, but only to the profit, which can be attributed to: (a) the permanent representation;) (b)) the same or similar goods, or the sale of other products in the country in which the company sells through the permanent representation. 2. in accordance with the provisions of part 3, if the Contracting State is established in the other Contracting State through a permanent establishment there, existing in each Contracting State to the permanent representations should the profit amount, it could benefit if the individual is clearly the company that performs the same or a similar business in the same or similar conditions independently and make trades with a company whose permanent establishment it is. 3. in determining the profits of a permanent representation, will be allowed to deduct the expenses related to the permanent missions and permanent missions due to location or elsewhere in the country, including operational and general administrative costs. However, it is not allowed to deduct the amount of the permanent establishment as royalties, fees or other similar payments for patents or other rights of use, or as a fee for certain services or for management, or as a percentage of the money lent to the permanent representation (if the company is not a bank) is the central part of the company to repay, or any other part of this company, if they don't have permanent representation at a to reimburse actual expenditure. 4. where a Contracting State the profits attributable to the permanent establishment shall be determined by dividing the company's total profit in proportion between its divisions, part 2 does not prohibit Contracting State as usual after this principle to determine profit, subject to taxes; However, the method of distribution must be such that the result matches the principles contained in this article. 5. On the permanent representation will not be applied the earnings just because it has purchased the goods or products to your company's needs. 6. for the purposes of applying the provisions of the preceding paragraph, the profits attributed to the permanent establishment shall be determined each year by the same method, except if there is sufficient reason to do otherwise. 7. If the profit is included in the other articles of this Convention see income separately, this article shall not affect the other provisions of this article. Article 8 shipping and air TRANSPORT 1-profits from the ship. the use in international traffic are taxed only in the Contracting State in which the ships are registered or recorded in a temporary order. 2. in accordance with the provisions of part 1 of the income realised by the company of a Contracting State from the use in international traffic, impose taxes only in this country. 3. profit for the company of a Contracting State has learned about the use of aircraft in international traffic, impose taxes only in this country. 4.1, 2, and 3. subparagraph shall also apply to profits from the participation in a pool, joint business or international traffic transport agency. Article 9 ASSOCIATED enterprises 1. If: (a) the Contracting State) directly or indirectly participating in the other Contracting State, the company's management or control or it owns part of the company's capital, or b) the same persons directly or indirectly participating in the enterprise of a Contracting State in the other Contracting State and the company's management or control or they own part of the company's capital, and in any of these cases, these two companies in commercial or financial relations are created or established by the rules different from those provisions that the force between two independent (non-related) companies, then any profits which would, but for one of the companies affected by the above provisions did not have, can be included in the company's profits, and it may be appropriate to impose taxes. 2. where a Contracting State includes in the profits of an enterprise of that State and taxes accordingly profits on it, in respect of which no other country in the other Contracting State, the company has been taxed, and this included the profit is the profit that would have been the first company of a Contracting State, if the relationship between the two companies would have been as exist between two independent companies, the second country made appropriate corrective for the size of the tax What are the gains of the other country. In determining this corrective, take into account the other provisions of this Convention and, if necessary, the competent authorities of the Contracting States for consultations. Article 10 dividends 1. Dividends by the company — a resident of a Contracting State in the other Contracting State, the cost of the resident may be taxed in that other State taxes. 2. However, such dividends may also impose taxes under the national law of the Contracting State of which the resident is a company that pays dividends, but if this true owner of dividends is resident of the other Contracting State, the tax shall not exceed: a 5 per cent of the dividend) total, if real owner of dividends is a company (other than a partnership) that are at least 25 percent of the company capital, which paid dividends; (b) 10 per cent of the dividend) total in all other cases. This paragraph shall not affect the taxation of company profits from which dividends. 3. The term "dividends" in this article means income from shares or other rights to participate in profits, not claims, as well as income from other rights which, in accordance with its national legislation, which the resident is a company that carries out the distribution of profits, subject to the same taxation treatment as income from shares. 4. parts 1 and 2 shall not apply if the rightful owner of dividends, who is a resident of a Contracting State, carries on business in the other Contracting State of which the resident is a company that paid dividends, with the existing permanent representation there, or give independent individual services in that other State through a permanent base located there, and where participation, which is paid out in dividends, is actually related to the permanent representations, or permanent base. In this case, depending on the circumstances, apply article 7 or 14. 5. If the company — a resident of a Contracting State derives profits or income in the other Contracting State, that other State may not impose any taxes or these companies paid dividends, except where the dividends are paid to a resident of the other State, or if the participation of which is paid out in dividends, is actually related to the permanent representation or permanent base in another country; nor does it impose a duty of retained earnings retained earnings of the company, even if the dividends paid or retained earnings consists in whole or in part from the other country of profit or income. Article 11 interest 1. Interest arising in a Contracting State and paid to a resident of the other Contracting State, may be taxed in that other State taxes. 2. However, such interest may also impose taxes according to national law the Contracting State in which they arise, but, if the interest owner is implemented on the territory of the other Contracting State, a resident of the tax must not exceed 10 percent of the total amount of interest. 3. Notwithstanding the provisions of part 2 of the Contracting State shall be exempt from taxation, interest arising in a country where the owner is real, and what is paid to the other Contracting State, the Government, including the local authorities and the Central Bank. 4. for the purposes of this article, the term "interest" means income from debt claims of every kind, whether or not secured by mortgage and whether or not they have the right to participate in the debtor's profits, and in particular, income from government securities and income from bonds or debentures, including premiums and prizes, which belong to these securities, bonds or debentures, as well as any income that, in accordance with its national tax legislation which this income occurs is considered. However, the term does not include income that article 10 the application of the provisions is treated as dividends. Interest received on payments made during, not be regarded as interest for the application of the provisions of this article. 5. parts 1 and 2 shall not be applied, if the interest owner, which is implemented by the Contracting State resident, doing business in the other Contracting State in which the interest arises, through a permanent representation of the existing there, or give independent individual services in that other State through a permanent base located there, and if the claims on the basis of which the interest is paid is effectively connected with such permanent establishment or fixed base. In this case, depending on the circumstances, apply article 7 or 14. 6. If the payer of the interest is a resident of a Contracting State, it will be deemed that the interest generated in this country. If, however, the person paying the interest, whether that person is a resident of a Contracting State or not, used in the Contracting State of the existing permanent representation or permanent base located there, which incurred debt obligations, on which the interest is paid, and if such interest is paid (bear) permanent establishment or fixed base, will be considered that the interest incurred in the State in which the permanent establishment or fixed base. 7. If, on the basis of the special relationship between the payer and the interest percentage implemented owner or between both of them and some other person, the amount of interest that relate to debt claims, for which it is paid, exceeds the amount that would have been able to agree to the interest payer and the interest owner will, if implemented, they would not have this special relationship, then the provisions of this article shall be applied only to the last-mentioned amount. In this case, the payment of the part which exceeds this amount, taxes are levied in accordance with legislation of a Contracting State, in the light of the other provisions of this Convention. Article 12 ROYALTIES (1) Royalties arising in a Contracting State and paid to a resident of the other Contracting State, may be taxed in that other State taxes. 2. However, such royalties may also impose taxes under the national legislation of the Contracting State in which it arises, but if the true owner of the royalties is a resident of the other Contracting State, the tax shall not exceed: a 5 per cent of the royalties) the total volume of production, commercial or scientific equipment; (b) 10 per cent of the royalties) total in all other cases. 3. The term "royalties" in this article means payments of any kind received as a compensation for the use of any copyright or rights to use any copyright on literary, artistic or scientific work including cinematograph films, and films or recordings and other image or sound reproduction means the radio or television broadcasting, any patent, trademark, design or model, plan, secret formula or process, or for the production , commercial or scientific equipment, or for the right to use them, or for information concerning industrial, commercial or scientific experience, or for transmission via satellite, cable, fibre optic cable, or similar technology. 4. parts 1 and 2, the conditions will not be applied, if the true owner of the royalties, which is a resident of a Contracting State, carries on business in the other Contracting State in which the royalties arise, through a permanent representation of the existing there, or give independent individual services in that other State through a permanent base located there, and if the right or property for which the royalties are paid is effectively connected with such permanent establishment or fixed base. In this case, depending on the circumstances, apply article 7 or 14. 5. If the payer of the royalties is a resident of a Contracting State, it will be considered that the royalties arise in the country. If, however, the person paying the royalties, whether or not that person is a resident of a Contracting State or not, used in the Contracting State of the existing permanent representation or permanent base located there, due to which a duty to pay the royalties, and if the payment of the royalties (bear) permanent establishment or fixed base, will be considered that the royalties arise in the State in which the permanent establishment or fixed base. 6. If, on the basis of the special relationship between the payer of royalties and royalties shall implement the owner or between both of them and some other person, the amount of the royalties relating to the use, right or information for which it is paid, exceeds the amount of royalties that would have been able to implement a single payer and the owner if they would not have this special relationship, then the provisions of this article shall be applied only to the last-mentioned amount. In this case, the portion of the payment that exceeds this amount, you will be taxed according to each Contracting State legislation, in the light of the other provisions of this Convention. Article 13 capital gains 1. Capital gains or income which a resident of a Contracting State derives, the disposal referred to in article 6, in the other Contracting State the existing real property, may be subject to taxes in the other country. 2. Capital gains that accrued, disposing of property, which is part of the property which the Contracting State a permanent establishment in the other Contracting State used in business, or disposing of property that belongs to a resident of a Contracting State a permanent base in the other Contracting State, which created the independent personal services, including capital gains from such permanent missions (alone or with the whole enterprise) or of such a permanent disposal base disposal can impose taxes in the other Contracting State. 3. Capital gains, the disposal of an international traffic used for sea or air transport, or disposes of the property, which belongs to the sea or air transport means will be taxable only in the Contracting State in which, in accordance with the provisions of article 8 is taxable from sea or air transport use of revenues. 4. Capital gains generated by the disposal of any property that is not 1, 2, and 3. the property referred to in part, will be taxable only in the Contracting State of which the resident is the seizure of property. 5. part 4 of the regulations restrict the right of a Contracting State in accordance with its provisions to tax capital gains that accrued to the public Exchequer, the residents of this State shares. Article 14 independent personal services 1. Contracting State residents — physical persons income, providing professional services or other independent activities, will be taxable only in that State unless that person your actions, uses it regularly available permanent base in the other State. If you are using such a permanent base, the income may be subject to taxes in the other country, but only to the extent that they apply to this permanent base. The application of this article, if a resident of a Contracting State: a natural person resident in the other Contracting State for a period or periods exceeding in the aggregate 183 that days in any 12-month period that begins or ends in the tax year concerned, shall be considered that this person uses regular access to permanent base in the other Contracting State and the income that accrued on the second country made the above actions will be applied to this permanent base. 2. The term "professional services" includes independent scientific, literary, artistic, educational or teaching activities as well as doctors, lawyers, engineers, architects, dentists and accountants of independent operation. Article 15 dependent personal services 1.16, 18 and article 19 of the regulations for the payment of wages and other remuneration, similar to what a resident of a Contracting State receives for paid employment, be taxable only in that State unless the paid work is not performed in the other Contracting State. If the salaried work is performed in the other Contracting State, the remuneration received for it can impose taxes in the other country. 2. Notwithstanding the provisions of part 1 the consideration that a resident of a Contracting State receives for paid work that is performed in the other Contracting State, be taxable only in the first mentioned State if: (a) the beneficiary) is found in the other State for a period or periods not exceeding in the aggregate 183 days in any 12-month period that begins or ends in the tax year; and (b) the remuneration is paid) an employer who is not a resident of the other State, or the name of the employer; and (c) the remuneration is not paid) (bear) permanent representation or permanent base that the employer uses the second in the country. 3. Notwithstanding the previous paragraph of this article, the rules of remuneration received for paid work, which is made to be used in international traffic, marine or air transport, taxes may be imposed on the Contracting State in which, in accordance with the provisions of article 8 of the following taxable marine or air transport means of the profit. Article 16 DIRECTORS ' fees directors ' fees and other similar payments received by a resident of a Contracting State as the Board of directors or other similar institutions in society, which is a member of the other Contracting State, a resident may be taxed in that other State taxes. Article 17 artists and athletes 1. articles 14 and 15 of the regulations to the income of a resident of a Contracting State as izpildītājmāksliniek, such as theatre, film, radio or television artist, musician, or as an athlete on their individual activities in the other Contracting State may be taxed in that other State taxes. 2. If izpildītājmāksliniek or athlete's income on his individual activity in the area in question is paid rather than izpildītājmāksliniek or athlete himself but to another person, to the following income regardless of the 7, 14 and 15 the provisions of article 1 may be subject to taxes in the Contracting State in which the activity or sports izpildītājmāksliniek. Article 18 pensions in accordance with article 19 of part 2 of the regulations for pensions and other similar remuneration received by a resident of a Contracting State for previous paid employment, be taxable only in that State. Article 19 government service 1 a) for salaries, fees and other similar remuneration, other than a pension, and a natural person the cost of Contracting State or a local government for this country or services provided to the municipality will be taxable only in that State. (b) However, such salaries), fees and other similar remuneration shall be taxable only in the other Contracting State if the services are rendered in that other State and the individual is a resident of that State who: (i) is a national of that State; or (ii) did not become a resident of that State solely to provide these services. 2. (a) to any pension to which) natural person the cost of Contracting State or of its local authorities or who are paid out of the funds set up for services provided by that person in that State or municipality will be taxable only in that State. b) However, such pension will be charged tax only in the other Contracting State if the individual is a resident of that other State and the citizen. 3.15, 16, 17, and article 18 shall apply to salaries, wages, other remuneration and pensions similar to that paid for services provided in respect of the Contracting State or of its local authorities carry out business. Article 20 students payments which a residence, study or internship needs receives a student, apprentice or trainee who is, or immediately before the arrival of the State was the territory of the other Contracting State and who was the first resident in that country have come only for the purpose of study or internship, this country will not be taxed if such payments are from sources that are not in the country. Article 21 offshore ACTIVITIES in zone 1. The provisions of this article will apply regardless of the provisions of this Convention. 2. persons — residents of a Contracting State in the other Contracting State, shelf activity carried out in the zone associated with the sea and subsoils and there existing natural resource exploration or exploitation, in accordance with parts 3 and 4 of the regulations will be considered business carried out in the other Contracting State through a permanent establishment there existing or permanent base. 3. This article is part 2 of the rules will not be applied, if the duration of a maximum period of 30 days in any 12-month period. However, the needs of this part: (a) action to be taken by a company) that is associated with another company, seen as the other company activity if the activity is essentially the same as that carried out by the latter company; (b)) two companies will be treated as associated if one of them directly or indirectly controls the other or a third person or third party directly or indirectly controlled by these two companies. 4. the profits received by any Contracting State, a resident of supplies or personnel to a carriage or between sites in any Contracting State which is open to the sea and subsoils and there existing exploration of natural resources, or related to the use or operation of the tug and other services that occur in addition to the above activities will be taxable only in that State. 5. Wages, earnings, and similar remuneration received by a resident of a Contracting State for work related to the other Contracting State the sea and subsoils and there existing natural resource exploration or exploitation, may be subject to taxes in the other country to the extent that work has been done in this second country shelf area, provided that a work shelf area as a whole, does not exceed the period of 30 days in any 12-month period. Article 22 other income 1. Other previous articles of this Convention for the Contracting State not specified income of residents, regardless of their sources will be taxable only in that State. 2. the provisions of part 1 does not apply to income, other than income from article 6 defined in part 2 of the real property, if the income beneficiary who is a resident of a Contracting State, carries on business in the other Contracting State through a permanent representation of the existing there, or give independent personal services in the other State through a permanent base located there, and if the rights or property of which you receive this income is actually linked to the permanent representations, or permanent base. In this case, depending on the circumstances of this Convention article 7 or 14. 3. Regardless of the parts 1 and 2 of this Convention, the provisions of other previous articles neglected Contracting State resident income arising in the other Contracting State may be taxed in that other State taxes.   Chapter IV taxation of capital article 23 capital 1. Capital represented in article 6 that a resident of a Contracting State of the real estate, which is situated in the other Contracting State may be taxed in that other State taxes. 2. Capital represented by movable property forming part of the estate which the Contracting State the company's permanent representation used in business, or capital represented by movable property that belongs to a resident of a Contracting State a permanent base in the other Contracting State, which is used for independent personal services, may be taxed in that other State taxes. 3. Capital represented by sea or air vehicles used in international traffic, as well as movable property belonging to the maritime or air transport means will be taxable only in the Contracting State in which, in accordance with the provisions of article 8 of the following taxable marine or air transport means of the profit. 4. all other Contracting State, a resident of the capital items will be taxable only in that State.   Chapter v PREVENTION of double taxation article 24 methods of double taxation 1. In Latvia, double taxation shall be avoided as follows: (a) Where a resident of Latvia) derives income or owns capital which it in accordance with this Convention may impose taxes in the Republic of Greece, when one of Latvia's domestic legislation did not include more favourable provisions, Latvia permission: (i) reduce the resident's income tax on the amount that is equal to the Hellenic Republic income tax paid; (ii) reduce the resident's capital tax on amount equal to the Hellenic Republic paid capital duty. These reductions, however, in no case, exceed the income tax or capital tax, part of which is calculated in Latvia before the application of this reduction and, depending on the circumstances of which is attributable to the income or the capital which may be subject to taxes in the Hellenic Republic. (b)) (a) (a) for the application of this paragraph, if the company) — a resident of Latvia receives a dividend from a company — resident of the Hellenic Republic, in which it owns at least 10 percent of shares with full voting rights, the tax paid in Greece were included not only the tax paid on the dividend, but also the appropriate portion of the tax paid on the profits of the company out of which the dividend was paid. 2. the Hellenic Republic, double taxation shall be avoided as follows: (a)) where a resident of the Hellenic Republic derives income or owns capital which, in accordance with this Convention may impose taxes in Latvia, where one of the Latvia domestic legislation is more favourable provisions, the Hellenic Republic shall allow: (i) reduce the resident's income tax for an amount equal to the income tax paid in Latvia; (ii) reduce the resident's capital tax on amount equal to the capital tax paid in Latvia. These reductions, however, in no case, exceed the income tax or capital tax, part of what is calculated before this fall and depending on the circumstances, which is attributable to the income or the capital which may impose tax in Latvia. (b) if the company — Latvia) a resident of dividends to a company — a resident of the Hellenic Republic, the tax paid in Latvia (in addition to any tax referred to in this part, (a))) will include the appropriate portion of the tax paid on the profits of the company out of which the dividend was paid. c) where in accordance with Latvian law for encouraging the economic development of Latvia are exempted from the taxes covered by this Convention, or such a tax cut, the tax that would be payable, in the absence of such exemption or reduction will be considered paid this part a) and b) point.   Chapter VI special provisions article 25 1 Preventing discrimination on the nationals of a Contracting State in the other Contracting State shall not be subject to taxation or related requirements that are different or more burdensome than the taxation or the related requirements which, in the same circumstances, in particular in the context of residence applies or may apply to other citizens of this country. This provision shall, notwithstanding the provisions of article 1, also apply to persons who are not party to one or both of the Contracting States of the residents. 2. Stateless persons who are residents of a Contracting State, any of the Contracting States shall not be subject to taxation or any requirements associated with it, which is different or more burdensome than the taxation and connected requirements to which, in the same circumstances, in particular in the context of residence applies or may apply to citizens of the country concerned. 3. Taxation the company of a Contracting State to the permanent representation the other Contracting State may not be less favourable than those of other taxation public companies which perform the same operation. This provision should not be interpreted that it imposes on the Contracting State the obligation to grant the other Contracting State any personal relief to residents, discount and reduction in relation to taxation, which this country give its residents, in the light of their civil status or family responsibilities. 4. Except where the applicable part 1 of article 9, article 11 part 7 or article 12 part 6 rules, interest, royalties and other payments made by the enterprise of a Contracting State in the other Contracting State the cost of the resident by establishing this company's profits, which are taxed, you must report at the same terms as if they were to be paid to the first residents of that State. Similarly, the enterprise of a Contracting State in the other Contracting State debt residents, establishing this company's taxable capital, is to be deducted by the same rules as if they would apply to the first residents of that State. 5. the Contracting State whose capital, in whole or in part, directly or indirectly, belongs to one or more of the other Contracting State residents or which they directly or indirectly control, the first in that country may not be subject to any taxation or any requirements associated with it, which is different from the taxation and related requirements, which are or may be exposed to similar to the former State enterprises, or which are more onerous. 6. The provisions of this article independently of the provisions of article 2, apply to taxes of every kind and name. Article 26 mutual conciliation procedure 1. If a person believes that one or both of the Contracting State party to a national action in relation to this person causes or may cause the taxation which does not comply with the provisions of this Convention, that person may, irrespective of the domestic legislation of these countries provided remedies to submit complaints to the competent authority of the country of which the person is resident, or if the complaint refers to part 1 of article 25 of the of the Member State, the competent authority of which is this person. The complaint shall be submitted for review within three years of the first notification of the action which led to the provisions of this Convention do not appropriate taxation. 2. If the competent authority deems the complaint to be justified and even fail to reach a satisfactory solution, it will endeavour to agree with the other competent authority of a Contracting State to this Convention shall not prevent the adequate taxation. Any such agreement is reached is due irrespective of the Contracting State of the domestic laws of the time limits laid down. 3. the national competent authorities should seek mutual agreement resolve any problems or prevent the doubt which may arise in the interpretation (translating the) or application of this Convention. They may also consult to avoid double taxation in cases not provided for in the Convention. 4. in order to reach agreement on these issues in the preceding subparagraph, the competent authorities of the Contracting States may communicate directly with one another, as well as the use of competent authorities or their representatives through the Commission. Article 27 Exchange of information 1. The competent authorities of the Contracting States shall exchange the information necessary for the carrying out of the provisions of this Convention or of the domestic legislation of the Contracting States for enforcement of legislation on taxes covered by this Convention, in so far as such legislation is not contrary to this Convention. Article 1 of the Convention does not restrict the exchange of information. Any information received by a Contracting State, should be treated as sensitive as information that is obtained in accordance with the national legislation and may be disclosed only to persons or authorities (including courts and administrative bodies) involved in the tax to which this Convention applies, in the calculation of the charging, prosecution legal liability, or in the application of coercive measures in appeals in respect of those taxes. Such persons or authorities, this information must be used only for the purposes mentioned above. They may disclose the information in public court proceedings or in judgements. 2. the provisions of part 1 should not be explained so that they bind the Contracting State the obligation: a to carry out administrative measures), which does not comply with one or other of the contracting national legislation and administrative practice; (b)) to provide information that is not available under one or other of the Contracting State legislation or administrative practice generally applicable; (c)) to provide information that can reveal any trade, business, industrial, commercial or professional secret or trade process, or information, the disclosure of which would be contrary to the public interest (ordre public). Article 28 diplomatic missions and consular staff nothing in this Convention shall affect the diplomatic missions or consular posts personnel fiscal privileges which international law granted the General provisions or special agreements.   Chapter VII final provisions article 29 entry into force 1. Contracting Governments shall notify each other that the countries have met the constitutional requirements necessary to give effect to this Convention. 2. this Convention shall enter into force by 1. referred to in the last statement date, and its provisions both of the Contracting States shall apply: (a)) in respect of taxes withheld at the time the cost-income accruing on the first day of January in the calendar year following the year in which this Convention enters into force, or after that date; (b)) in the case of other income taxes and capital taxes-taxes payable for any taxation year that begins on the first day of January in the calendar year following the year in which this Convention enters into force, or after that date. Article 30 termination this Convention shall remain valid as long as the one Contracting State it shall be terminated. Each Contracting State may terminate this Convention, diplomatic channels by giving written notice of termination at least six months before any end of the calendar year. In this case the Convention in both Contracting States shall not apply: (a)) in respect of taxes withheld at the time the cost to income accruing on the first day of January in the calendar year following the year in which the Declaration for winding up, or after that date; (b)) in the case of other income taxes and capital taxes-taxes payable for any taxation year that begins on the first day of January in the calendar year following the year in which the notice of termination, or after that date. In witness thereof, the undersigned, being duly authorised, have signed this Convention. The Convention is drawn up in two copies in Athens on 27 March 2002 in Latvian, Greek, and English, in addition, all three texts being equally authentic. Different case is decisive for the interpretation of the text in English. 

The Government of the Republic of Latvia in the Hellenic Republic on behalf of the Government of Aigars kalvītis Georgo in Florida by the CONVENTION BETWEEN the Government OF the REPUBLIC OF Latvia AND the Government OF THE HELLENIC REPUBLIC FOR the avoidance OF double TAXATION AND the PREVENTION OF FISCAL EVASION WITH RESPECT TO taxes ON income AND ON CAPITAL (menu Rngton Line4) to conclud a Convention for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and on capital , Have agreed as follows: Chapter I scope OF the CONVENTION article 1 PERSONS COVERED this Convention shall apply to persons who are residents of one or both of the Contracting States. Article 2 taxes COVERED 1. This Convention shall apply to taxes on income imposed on behalf of the Andean capital on (a) the Contracting State or of its local authorities, irrespectiv of the manner in which they are levied. 2. There shall be regarded as taxes on income and on capital all taxes imposed on total income, on total capital, or on elements of income or of capital, including taxes on gains from the alienation of movable or immovabl property, as well as taxes on capital appreciation. 3. The existing taxes to which the Convention shall apply in particular to: (a)) in the United Kingdom: (i) the enterprise income tax (income tax of enterprises); (ii) the personal income tax (will tax revenue); (iii) the immovabl property tax (tax on immovable property); (hereinafter referred to as "Latvian tax"); (b)) in the Hellenic Republic: (i) the income and capital tax on natural persons; (ii) the income and capital tax on legal persons; (hereinafter referred to as "Hellenic tax"). 4. The Convention shall apply also to any identical or substantially similar taxes that are imposed after the date of signature of the Convention in addition to, or in place of, the existing taxes. The competent authorities of the Contracting States shall notify the other of any each significant changes that have been made in their taxation laws of respectiv.
Chapter II DEFINITION of article 3 GENERAL DEFINITION 1. For the purpose of this Convention, unless the context otherwise requires: a the term "a) Contracting State" and "the other Contracting State" mean Latvia or the Hellenic Republic, as the context requires; (b)) the term "United States" means the Republic of Latvia and, when used in the sense of location, means the territory of the Republic of Latvia and any other area adjacent to the territorial waters of the Republic of Latvia within which under the law of Latvia and in accordanc with international law, the rights of Latvia may be exercised with respect to the sea bed and its sub soil and their-natural resources; (c)), the term "Hellenic Republic" compris of the territory of the Hellenic Republic and the part of the sea, the sea bed and its sub-soil under the Mediterranean Sea, over which the Hellenic Republic, in accordanc with international law, has sovereign rights for the purpose of exploration, extraction or exploitation of the natural resources of such areas; (d) the term "person") includes an individual, a company and any other body of persons; e the term "company") means any body corporate or any entity which is treated as a body corporate for tax purpose; (f) the term ") enterprise of a Contracting State" and "enterprise of the other Contracting State" mean respectively an enterprise carried on by a resident of a Contracting State and an enterprise carried on by a resident of the other Contracting State; g) the term "international traffic" means any transport by a ship or aircraft, except when the ship or aircraft is operated solely between places in a Contracting State; h) the term "competent authority" means: (i) in Latvia, the Ministry of finance or its authorised representative; (ii) in the Hellenic Republic, the Minister of finance or his authorised representative; (I) the term "national") means: (i) any individual possessing the nationality of a Contracting State; (ii) any legal person, partnership or association deriving its status as such from the law in force in a Contracting State. 2. As regards the application of the Convention at any time by a Contracting State, 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 State for the purpose of the taxes to which the Convention applies, any meaning under the applicable tax laws of that State prevailing over a meaning given to the term under other laws of that State. Article 4 resident 1. For the purpose of this Convention, the term "resident of a Contracting State" means any person who, under the law of that State, is liabl to tax therein by reason of his domicile, residence, place of management, place of incorporation or any other criterion of a similar nature, and also includes that State or any local authority thereof. This term, however, does not include any person who is liabl to tax in that State in respect only of income from sources in that State or capital situated therein. 2. Where by reason of the provision of paragraph 1 an individual is a resident of both Contracting States, then his status shall be determined as follows: a he shall be deemed to be) a resident only of the State in which he has a permanent home available to him; If he has a permanent home available to him in both States, he shall be deemed to be a resident only of the State with which his personal and economic relations are closer (Centre of vital interests); (b)) if the State in which he has his centre of vital interests cannot be determined, or if he has not a permanent home available to him in either State, he shall be deemed to be a resident only of the State in which he has an habitual abode; c if he has an habitual) abode in both States or in ither of them, he shall be deemed to be a resident only of the State of which he is a national; (d) if he is a national) of both States or of ither of them not, the competent authorities of the Contracting States shall settle the the question by mutual agreement. 3. Where by reason of the provision of paragraph 1 a person other than an individual is a resident of both Contracting States, the competent authorities of the Contracting States shall endeavour: the it settle the questions by mutual agreement having regard to such factors as the place of effective management and the place where it is incorporated. Article 5 permanent establishment 1. For the purpose of this Convention, the term "permanent establishment" means a fixed place of business through which the business of an enterprise is wholly or partly carried on. 2. The term "permanent establishment" includes especially: a a place of management); (b)) a branch; c) an Office; (d) a factory;) e a workshop, and f)) a mine, an oil or gas well, a quarry or any other place of extraction of natural resources. 3. A building site, a construction, assembly or installation project or a supervisory activity connected therewith or consultancy constitut a permanent establishment only if such site, project or activity lasts for a period of more than nine months. 4. Notwithstanding the preceding provision of this article, the term "permanent establishment" shall be deemed not to include: a) the use of facilities solely for the purpose of storage, display or delivery of goods or merchandise belonging to the enterprise; (b)) the maintenance of a stock of goods or merchandise belonging to the enterprise solely for the purpose of storage, display or delivery; (c)) the maintenance of a stock of goods or merchandise belonging to the enterprise solely for the purpose of processing by another enterprise; (d)) the maintenance of a fixed place of business solely for the purpose of purchasing goods or merchandise or of collecting information, for the enterprise; e) the maintenance of a fixed place of business solely for the purpose of carrying on, for the enterprise, any other activity of a features or auxiliary character; f) the maintenance of a fixed place of business solely for any combination of activities mentioned in subparagraph (a)) (e)), provided that the overall activity of the fixed place of business resulting from this combination is of a features or auxiliary character. 5. Notwithstanding the provision of paragraph 1 and 2, where a person-other than an agent of an independent status to whom paragraph 6 applies-is acting on behalf of an enterprise and has, and habitually exercises, in a Contracting State an authority to conclud-contracts in the name of the enterprise, that enterprise shall be deemed to have a permanent establishment in that State in respect of any activities which that person undertak-for the enterprise , unless the activities of such person with limited it to those mentioned in paragraph 4 which, if exercised through a fixed place of business, would not make this fixed place of business a permanent establishment under the provision of that paragraph. 6. An enterprise shall not be deemed to have a permanent establishment in a Contracting State merely because it to one business in the carr a State through a broker, general commission agent or any other agent of an independent status, provided that such persons are acting in the ordinary course of their business. However, when the activities of such an agent are devoted wholly or almost wholly on behalf of that enterprise and where the conditions between the agent and the enterprise differ from those which would be made between independent persons, such agent shall not be considered an agent of an independent status within the meaning of this paragraph. 7. The fact that a company which is a resident of a Contracting State controls or is controlled by a company which is a resident of the other Contracting State, or which carr to one business in that other State (whethers through a permanent establishment or otherwise), shall not of itself either company a permanent constitut establishment of the other.
Chapter III TAXATION OF income article 6 income FROM IMMOVABL PROPERTY 1. Income derived by a resident of a Contracting State from immovabl property (including income from agriculture or forestry) situated in the other Contracting State may be taxed in that other State. 2. The term "immovabl property" shall have the meaning which it has under the law of the Contracting State in which the property in question is situated. The term shall in any case include property accessory to immovabl property, livestock and equipment used in agriculture and forestry, rights to which the provision of general law respecting landed property apply, any option or similar right to the immovabl property, usufruc acquir of immovabl property and rights to variable or fixed payments as considerations for the working of, or the right to work, mineral deposits, sources and other natural resources. Ships, boats and aircraft shall not be regarded as immovabl property. 3. The provision of paragraph 1 shall apply to income derived from the direct use, letting, or use in any other form of immovabl property. 4. Where the ownership of shares or other corporate rights in a company the owner of entitl such shares or corporate rights to the enjoymen of immovabl property held by the company, the income from the direct use, letting, or use in any other form of such right may be taxed to the enjoymen in the Contracting State in which the immovabl property is situated. 5. The provision of paragraphs 1, 3 and 4 shall also apply to the income from the immovabl property of an enterprise and to income from the immovabl property used for the performance of independent personal services. Article 7 business profits 1. The profits of an enterprise of a Contracting State shall be only in the taxabl that State unless the enterprise to one business in carr the other Contracting State through a permanent establishment situated therein. If the enterprise on business as aforesaid to carr, the profits of the enterprise may be taxed in the other State but only so much of them as is attributabl it: a) that permanent establishment; (b)) in the island State of the good you others or merchandise of the same or similar kind as those sold through that permanent establishment. 2. Subject to the provision of paragraph 3, where an enterprise of a Contracting State to one business in carr the other Contracting State through a permanent establishment situated therein, there shall in each Contracting State be attributed to that permanent establishment the profits which it might be expected to make if it were a distinct and separate enterprise engaged in the same or similar activities under the same or similar conditions and dealing wholly independently with the enterprise of which It is a permanent establishment. 3. In determining the profits of a permanent establishment, there shall be allowed as a deduction in "of which the expense incurred for the purpose of the permanent establishment, including Executive and general administrative expense so incurred, whethers of in the State in which the permanent establishment is situated or elsewher. However, no such deduction in "shall be allowed in respect of non, if any, paid (otherwise than towards reimbursemen of actual expense) by the permanent establishment to the head office of the enterprise or any of its other offices, by way of the royalt, fe or other similar payments in return for the use of patents or other rights, or by way of commission , for specific services performed or for management, or, except in the case of a banking enterprise, by way of interest on money lent to the permanent establishment. 4. Insofar as it has been customary in a Contracting State to determin the profits to be attributed to a permanent establishment on the basis of an apportionmen of the total profits of the enterprise to its various parts, nothing in paragraph 2 shall preclud that Contracting State from determining the profits to be taxed by such an apportionmen as may be customary; the method of apportionmen, however, the adopted shall be such that the result shall be in accordanc with the principles led in this article. 5. From the profits shall be attributed to a permanent establishment by reason of the mere purchase by that permanent establishment of goods or merchandise for the enterprise. 6. For the purpose of the preceding paragraphs, the profits to be attributed to the permanent establishment shall be determined by the same method year by year unless there is good and sufficient reason to the contrary. 7. Where profits include items of income which the deal with separately in other articles of this Convention, then the provision of those articles shall not be affected by the provision of this article. Article 8 SHIPPING AND AIR transport 1-profits derived. from the operation of ships in international traffic shall be taxabl only in the Contracting State in which the ships are registered or by which they are documented. 2. Subject to the provision of paragraph 1, income derived by an enterprise of a Contracting State from the operation of ships in international traffic shall be only in the taxabl Contracting State a. 3. Profits of an enterprise of a Contracting State from the operation of aircraft in international traffic shall be taxabl only in that State. 4. The provision of paragraphs 1.2 and 3 shall also apply to profits from the participation in a pool, a joint business or an international operating agency. Article 9 ASSOCIATED enterprises 1. Where (a) an enterprise of a Contracting) State of directly or indirectly participat in the management, control or capital of an enterprise of the other Contracting State, or b) the same persons directly or indirectly the participat 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 made or imposed between the two enterprises in their commercial or financial relations which differ from those which would be made between independent enterprises, then any profits which would, but for those conditions, have accrued to one of the enterprises, but, by reason of those conditions, have not so accrued, may be included in the profits of that enterprise and taxed accordingly. 2. Where a Contracting State includes in the profits of an enterprise of that State-and taxes accordingly-profits on which an enterprise of the other Contracting State has been charged to tax in that other State and the profits so included are profits which would have accrued to the enterprise of the first-mentioned State if the conditions made between the two enterprises had been those which would have been made between independent enterprises , then that other State shall make an appropriate adjustment to the amount of the tax charged therein on those profits. In determining such adjustment, due regard shall be had to the other provision of this Convention and the competent authorities of the Contracting States shall if the cessary not consult each other. Article 10 DIVIDENDS 1. Dividends paid by a company which is a resident of a Contracting State to a resident of the other Contracting State may be taxed in that other State. 2. However, such dividends may also be taxed in the Contracting State of which the company paying the dividends is a resident and according to the law of that State, but if the beneficial owner of the dividends is a resident of the other Contracting State, the tax so charged shall not: (a) 12 5 per cent) of the gross amount of the dividends if the beneficial owner is a company (other than a partnership) which holds directly at least 25 per cent of the capital of the company paying the dividend; b) 10 per cent of the gross amount of the dividends in all other cases. This paragraph shall not be affec the taxation of the company in respect of the profits out of which the dividend is paid with. 3. The term "dividends" as used in this article means income from shares or other rights, not being debt-claims, participating in profits, as well as income from other rights which is subjected to the same taxation treatment as income from shares by the laws of the State of which the company making the distribution is a resident. 4. The provision of paragraphs 1 and 2 shall not apply if the beneficial owner of the dividends, being a resident of a Contracting State, carr to one business in the other Contracting State of which the company paying the dividends is a resident, through a permanent establishment situated therein, or perform in that other State independent personal services from a fixed base situated therein , and the holding in respect of which the dividend is paid is effectively connected with such permanent establishment or with a fixed base. In such case the provision of article 7 or article 14, as the case may be, shall apply. 5. Where a company which is a resident of a Contracting State or of deriv profits income from the other Contracting State, that other State may not impost any tax on the dividends paid by the company, except insofar as such dividends to be paid to a resident of that other State or insofar as the holding in respect of which the dividend is paid is effectively connected with a permanent establishment or a fixed base situated in the a to get other State , nor subject the company's undistributed profits to a tax on the company's undistributed profits, even if the dividends paid or the undistributed profits wholly or partly be consis of profits or income arising in such other State. Article 11 interest 1-interest arising in a Contracting. The State and paid to a resident of the other Contracting State may be taxed in that other State. 2. However, such interest may also be taxed in the Contracting State in which it «arise and according to the law of that State, but if the beneficial owner of the interest is a resident of the other Contracting State, the tax so charged shall not exceeds 100 10 per cent of the gross amount of the interest. 3. Notwithstanding the provision of paragraph 2, interest arising in a Contracting State, derived and beneficially owned by the Government of the other Contracting State, including its local authorities and the Central Bank, shall be the main from tax in the first-mentioned State. 4. The term "interest" as used in this article means income from debt-claims of every kind, whethers or not secured by mortgage and whethers or not carrying a right to participat in the debtor's profits, and in particular, income from government securities and income from bonds or debentur, including premium and prizes attaching to such securities, bonds or the debentur as well as any income that is treated as interest under the taxation law of the Contracting State in which such income «arise. The term, however, shall not include any income which is treated as a dividend under the provision of article 10. Penalty charges for late payment shall not be regarded as interest for the purpose of this article. 5. The provision of paragraphs 1 and 2 shall not apply if the beneficial owner of the interest, being a resident of a Contracting State, carr to one business in the other Contracting State in which the interest «arise, through a permanent establishment situated therein, or perform in that other State independent personal services from a fixed base situated therein, and the debt-claim in respect of which the interest is paid is effectively connected with such permanent establishment or fixed base. In such case the provision of article 7 or article 14, as the case may be, shall apply. 6. Interest shall be deemed the «arise in a Contracting State when the payer is a resident of that State. Where, however, the person paying the interest, whethers he is a resident of a Contracting State or not, has in a Contracting State a permanent establishment or a fixed base in connection with which the indebtednes on which the interest is paid was incurred, and such interest is borne by such permanent establishment or fixed base, then such interest shall be deemed the «arise in the State in which the permanent establishment or fixed base is situated. 7. Where, by reason of a special relationship between the payer and the beneficial owner or between both of them and some other person, the amount of the interest, having regard to the debt-claim for which it is paid, exceeds 100 for the amount which would have been agreed upon by the payer and the beneficial owner in the absence of such relationship , the provision of this article shall apply only to the last-mentioned amount. In such case, the excess part of the payments shall remain the taxabl according to the law of each Contracting State, due regard being had to the other provision of this Convention. Article 12 to 1 to ROYALT Royalt arising in a Contracting State and paid to a resident of the other Contracting State may be taxed in that other State. 2. However, such may be taxed in royalt also in the Contracting State in which they «arise and according to the law of that State, but if the beneficial owner of the royalt to is a resident of the other Contracting State, the tax so charged shall not (a) 12:5 per cent) of the gross amount of the paid for the USA to royalt of industrial , commercial or scientific equipment; b) 10 per cent of the gross amount of the stay in all other cases royalt. 3. The term "royalt" as used in this article means payments of any kind received as a considerations for the use of, or the right to use, any copyright of literary, artistic or scientific work including cinematograph films and films or tapes and other means of image or sound reproduction for radio or television broad-casting, any patent, trade mark, design or model , plan, secret formula or process, or for the use of, or the right to use, industrial, commercial or scientific equipment, or for information concerning industrial, commercial or scientific experience, or for transmission by satellite, cable, optic fibre or similar technology. 4. The provision of paragraphs 1 and 2 shall not apply if the beneficial owner of the royalt, being a resident of a Contracting State, carr to one business in the other Contracting State in which the royalt «arise, through to a permanent establishment situated therein, or perform in that other State independent personal services from a fixed base situated therein, and the right or property in respect of which the royalt paid is effectively connected with such permanent with establishment or fixed base. In such case the provision of article 7 or article 14, as the case may be, shall apply. 5. you shall be deemed the Royalt «arise in a Contracting State when the payer is a resident of that State. Where, however, the person paying the whethers royalt, he is a resident of a Contracting State or not, has in a Contracting State a permanent establishment or a fixed base in connection with which the obligation to pay the royalt was incurred, and to the royalt is borne with by that permanent establishment or fixed base, then such shall be deemed to be the royalt «arise in the State in which the permanent establishment or fixed base is situated. 6. Where, by reason of a special relationship between the payer and the beneficial owner or between both of them and some other person, the amount of the royalt, having regard to the use, right or information for which they are paid, exceeds 100 for the amount which would have been agreed upon by the payer and the beneficial owner in the absence of such relationship , the provision of this article shall apply only to the last-mentioned amount. In such case, the excess part of the payments shall remain the taxabl according to the law of each Contracting State, due regard being had to the other provision of this Convention. Article 13 CAPITAL gains 1. Gains or income derived by a resident of a Contracting State from the alienation of property referred to immovabl in article 6 and situated in the other Contracting State may be taxed in that other State. 2. Gains from the alienation of movable property forming part of the business property of a permanent establishment which an enterprise of a Contracting State has in the other Contracting State or of movable property pertaining to a fixed base available to a resident of a Contracting State in the other Contracting State for the purpose of performing independent personal services , including such gains from the alienation of such a permanent establishment (alone or with the whole enterprise) or of such fixed base, may be taxed in that other State. 3. Gains from the alienation of ships or aircraft operated in international traffic or movable property pertaining to the operation of such ships or aircraft shall be taxabl only in the Contracting State in which the profits of such ships or aircraft are the taxabl is according to the provision of article 8.4. Gains from the alienation of any property other than that referred to in paragraph 1 , 2 and 3, shall be only in the taxabl Contracting State of which the alienator is a resident. 5. The provision of paragraph 4 shall not be affec the right of a Contracting State to levy, according to its own law a tax on capital gains derived from the alienation of shares in a company of that State. Article 14 independent PERSONAL services 1-income derived by an individual. who is a resident of a Contracting State in respect of professional services or other activities of an independent character shall be taxabl only in that State unless he has a fixed base regularly available to him in the other Contracting State for the purpose of performing his activities. If he has such a fixed base, the income may be taxed in the other State but only so much of it as is attributabl to that fixed base. For this purpose, where an individual who is a resident of a Contracting State stay in the other State for a period or Contracting period exceeding in the aggregate 183 days in any twelve month period commencing in or ending in the fiscal year concerned, he shall be deemed to have a fixed base regularly available to him in that other State and the income that is derived from his activities referred to above that are performed in that other State shall be attributabl to that fixed base. 2. The term "professional services" includes especially independent scientific, literary, artistic, educational or teaching activities as well as the independent activities of physicians, lawyers, engineers, architects, dentists and accountants. Article 15 dependent PERSONAL services 1-subject to the provision of articles 16, 18 and 19, salar, WAGs and other similar remuneration derived by a resident of a Contracting State in respect of an employment shall be taxabl only in that State unless the employment is exercised in the other Contracting State. If the employment is so exercised, such remuneration as is derived therefrom may be taxed in that other State. 2. Notwithstanding the provision of paragraph 1, remuneration derived by a resident of a Contracting State in respect of an employment exercised in the other Contracting State shall be the taxabl only in the first-mentioned State if: a the recipient is present) in the other State for a period or periods not exceeding in the aggregate 183 days in the in any twelve month period commencing or ending in the fiscal year concerned , and b the remuneration is paid by), or on behalf of, an employer who is not a resident of the other State, and c the remuneration is not) borne by a permanent establishment or a fixed base which the employer has in the other State. 3. Notwithstanding the preceding provision of this article, remuneration derived in respect of an employment exercise aboard a ship or aircraft operated in international traffic, may be taxed in the Contracting State in which the profits from the operation of the ship or aircraft with the taxabl is according to the provision of article 8 article 16 DIRECTOR's fees Director's fees and other similar payments derived by a resident of a Contracting State in his capacity as a member of the board of the director or any other similar organ of a company which is a resident of the other Contracting State may be taxed in that other State. Article 17 artistes AND SPORTSMEN 1. Notwithstanding the provision of articles 14 and 15, income derived by a resident of a Contracting State as an entertainer, such as a theatre, motion picture, radio or television artiste, or a musician, or as a sportsman's, from his personal activities as such exercised in the other Contracting State, may be taxed in that other State. 2. Where income in respect of personal activities exercised by an entertainer or a sportsman's in his capacity as such notes to the accru entertainer or sportsman's himself but to another person, that income may, notwithstanding the provision of articles 7, 14 and 15, be taxed in the Contracting State in which the activities of the entertainer or sportsman's are exercised. Article 18 PENSION subject to the provision of paragraph 2 of article 19, and other similar remuneration paid pension to a resident of a Contracting State in considerations of past employment shall be only in the taxabl you state. Article 19 government service 1 a) and others of the Salar, WAGs similar remuneration, other than a pension, paid by a Contracting State or a local authority thereof to an individual in respect of services rendered to that State or authority shall be only in the taxabl you state. b) However, such Salar, WAGs and other similar remuneration shall be taxabl only in the other Contracting State if the services are rendered in that State and the individual is a resident of that State who: (i) is a national of that State; or (ii) did not become a resident of that State solely for the purpose of rendering the services. 2. a Any pension paid by, or) out of funds created by, a Contracting State or a local authority thereof to an individual in respect of services rendered to that State or authority shall be only in the taxabl you state. (b) However, such pension shall be) taxabl only in the other Contracting State if the individual is a resident of, and a national of, that State. 3. The provision of articles 15, 16, 17, and 18 shall apply to salar, and other similar remuneration, WAGs and their pension, in respect of services rendered in connection with a business carried on by a Contracting State or a local authority thereof. Article 20 students payments which a student, an apprentice or a trainee who is or was immediately before visiting a Contracting State a resident of the other Contracting State and who is present in the first-mentioned State solely for the purpose of his education or training receive for the purpose of his maintenance, education or training shall not be taxed in that State , provided that such payments «arise from sources outside that State. Article 21 offshore activities 1. The provision of this article have effect notwithstanding the provision of this Convention. 2. A person who is a resident of a Contracting State and carr to one activities offshore in the other Contracting State in connection with the exploration or exploitation of the sea bed and sub-soil and their natural resources situated in that other State shall, subject to paragraphs 3 and 4, be deemed in relations to those activities to be carrying on business in that other State through a permanent establishment situated therein or fixed base. 3. The provision of paragraph 2 shall not apply where the activities are carried on for a period not exceeding 30 days in the aggregate in any twelve month period. However, for the purpose of this paragraph: a activities carried on by United Nations) Enterprise associated with another enterprise shall be regarded as carried on by the enterprise with which it is associated if the activities in question are substantially the same as those carried on by the last-mentioned enterprise; (b)) two enterprises shall be deemed to be associated if one is controlled directly or indirectly by the other, or both are controlled directly or indirectly by a third person or persons. 4. Profits derived by a resident of a Contracting State from the transportation of supplies or personal to a location, or between locations, where activities in connection with the exploration or exploitation of the sea bed and sub-soil and their natural resources are being carried on in a Contracting State, or from the operation of a vessel for the tugboat and others auxiliary to such activities , shall be only in the taxabl you state. 5. Salar, WAGs and similar remuneration derived by a resident of a Contracting State in respect of an employment connected with the exploration or exploitation of the seabed and subsoil and their natural resources situated in the other Contracting State may, to the the exten that the duties are performed offshore in that other State, be taxed in that other State provided that the employment offshore is carried on for a period exceeding 30 days in the aggregate in any twelve month period. Article 22 OTHER income 1-items of income. of a resident of a Contracting State, wherever arising, not deal with in the foregoing articles of this Convention shall be only in the taxabl you state. 2. The provision of paragraph 1 shall not apply to income, other than income from property immovabl as defined in paragraph 2 of article 6, if the recipient of such income, being a resident of a Contracting State, carr to one business in the other Contracting State through a permanent establishment situated therein, or perform in that other State independent personal services from a fixed base situated therein , and the right or property in respect of which the income is paid is effectively connected with such permanent establishment or fixed base. In such case the provision of article 7 or article 14, as the case may be, shall apply. 3. Notwithstanding the provision of paragraph 1 and 2, items of income of a resident of a Contracting State not deal with in the foregoing articles of this Convention and arising in the other Contracting State may be taxed in that also the other State. Chapter IV TAXATION OF CAPITAL article 23 CAPITAL 1. Capital represented by immovabl property referred to in article 6, owned by a resident of a Contracting State and situated in the other Contracting State, may be taxed in that other State. 2. Capital represented by movable property forming part of the business property of a permanent establishment which an enterprise of a Contracting State has in the other Contracting State or by movable property pertaining to a fixed base available to a resident of a Contracting State in the other Contracting State for the purpose of performing independent personal services, may be taxed in that other State. 3. Capital represented by ships or aircraft operated in international traffic and by movable property pertaining to the operation of such ships or aircraft, shall be taxabl only in the Contracting State in which the profits from the aforesaid ships or aircraft are the taxabl is according to the provision of article 8 4 All other elements of capital of a resident of a Contracting State shall be only in the taxabl you state. Chapter V methods FOR ELIMINATION OF double TAXATION article 24 ELIMINATION OF double TAXATION 1. In the case of a resident of Latvia, double taxation shall be avoided as follows: (a)) where a resident of Latvia or of deriv income own capital which, in accordanc with this Convention, may be taxed in the Hellenic Republic, unless a more favourabl treatment is provided in its domestic law, Latvia shall allow: (i) as a deduction in "from the tax on the income of that resident , an amount equal to the income tax paid thereon in the Hellenic Republic; (ii) as a deduction in "from the tax on the capital of that resident, an amount equal to the capital tax paid thereon in the Hellenic Republic. Such marbles in either case shall not, however, that about 12 of the income tax or capital tax in Latvia, as computed before the deduction in "is given, which is attributabl, as the case may be, to the income or the capital which may be taxed in the Hellenic Republic. (b)) For the purpose of sub-paragraph (a)), where a company that is a resident of Latvia receive a dividend from a company that is a resident of the Hellenic Republic in which it will own at least 10 per cent of its shares having full voting rights, the tax paid in the Hellenic Republic shall include not only the tax paid on the dividend, but also the appropriate portions of the tax paid on the underlying profits of the company out of which the dividend was paid. 2. In the case of a resident of the Hellenic Republic, double taxation shall be avoided as follows: (a)) where a resident of the Hellenic Republic's income or own deriv capital which, in accordanc with the provision of this Convention, may be taxed in the United Kingdom, the Hellenic Republic shall allow: (i) as a deduction in "from the tax on the income of that resident , an amount equal to the income tax paid in Latvia; (ii) as a deduction in "from the tax on the capital of that resident, an amount equal to the capital tax paid in Latvia. Such marbles in either case shall not, however, that about 12 of the income tax or capital tax, as computed before the deduction in "is given, which is attributabl, as the case may be, to the income or the capital which may be taxed in the United Kingdom. (b)) where (a) dividends paid by a company which is a resident of Latvia to a resident of the Hellenic Republic, the credit shall take into account (in addition to any tax creditabl is under the provision of subparagraph (a)) of this paragraph) the tax payable by the company in respect of the profits out of which such dividend is paid with. (c)) where, in accordanc with the law of Latvia, an exemption from, or a reduction of, taxes covered by this Convention is granted for the purpose of encouraging economic development in Latvia, the tax which would have been paid but for such exemption or reduction shall be deemed to have been paid for the purpose of subparagraph (a)) and (b) of this paragraph).
Chapter VI SPECIAL PROVISION of article 25 NON-DISCRIMINATION 1-nationals of a Contracting. State shall not be subjected in the other Contracting State to any taxation or any requirement connected therewith, which is other or more burdensom than the taxation and connected requirements to which nationals of that other State in the same, in particular with circumstanc respect their residence, may be subjected to or. This provision shall, notwithstanding the provision of article 1, also apply to persons who are not residents of one or both of the Contracting States. 2. a person who with Stateles of residents of a Contracting State shall not be subjected in either Contracting State to any taxation or any requirement connected therewith, which is other or more burdensom than the taxation and connected requirements to which nationals of the State concerned in the same, in particular with circumstanc respect their residence, may be subjected to or. 3. The taxation on a permanent establishment which an enterprise of a Contracting State has in the other Contracting State shall not be less favourably levied in that other State than the taxation levied on enterprises of the of that other State carrying on the same activities. This provision shall not be construed as obliging a Contracting State to grant to residents of the other Contracting State any personal allowance, relief and reduction for taxation purpose on account of civil status or family responsibilities which it grants to its own residents. 4. Except where the provision of paragraph 1 of article 9, paragraph 7 of article 11, or paragraph 6 of article 12, apply, interest, and other disbursement royalt paid by an enterprise of a Contracting State to a resident of the other Contracting State shall, for the purpose of determining the taxabl profits of such enterprise, be-deductibl under the same conditions as if they had been paid to a resident of the first-mentioned State. Similarly, any debt of an enterprise of a Contracting State to a resident of the other Contracting State shall, for the purpose of determining the capital of the taxabl such enterprise, be-deductibl under the same conditions as if they had been contracted to a resident of the first-mentioned State. 5. Enterprises of a Contracting State, the capital of which is wholly or partly owned or controlled, directly or indirectly, by one or more residents of the other Contracting State, shall not be subjected in the first-mentioned State to any taxation or any requirement connected therewith which is other or more burdensom than the taxation and connected requirements to which other similar enterprises of the first-mentioned State may be subjected to or. 6. The provision of this article shall, notwithstanding the provision of article 2, apply to taxes of every kind and description. Article 26 MUTUAL agreement procedure 1-where a person consider. that the actions of one or both of the Contracting States result or will result for him in taxation not in accordanc with the provision of this Convention, he may, irrespectiv of the remedies provided by the domestic law of those States, present his case to the competent authority of the Contracting State of which he is a resident or , if his case comes under paragraph 1 of article 25, to that of the Contracting State of which he is a national. The case must be presented within three years from the first notification of the action resulting in taxation not in accordanc with the provision of the Convention. 2. The competent authority shall endeavour, if the objection to it appear to be justified and if it is not itself able to arrive at a satisfactory solution, to resolve the case by mutual agreement with the competent authority of the other Contracting State, with a view to the avoidance of taxation which is not in accordanc with the Convention. Any agreement reached shall be implemented notwithstanding any time limits in the domestic law of the Contracting States. 3. The competent authorities of the Contracting States shall endeavour to the their resolve by mutual agreement any doubt arising as to the difficult or is it the interpretation or application of the Convention. They may also consult together for the elimination of double taxation in cases not provided for in the Convention. 4. The competent authorities of the Contracting States the may communicate with each other directly, including through a joint commission consisting of themselves or their representatives, for the purpose of reaching an agreement in the sense of the preceding paragraphs. Article 27 Exchange OF INFORMATION 1. The competent authorities of the Contracting the States shall exchange such information as is not cessary for carrying out the provision of this Convention or of the domestic laws of the Contracting States concerning taxes covered by the Convention insofar as the taxation thereunder is not contrary to the Convention. The exchange of information is not restricted by article 1. Any information received 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 , or the determination of appeal in their relations, the taxes covered by the Convention. Such persons or authorities shall use the information only for such purpose. They may be published by the information in disclos court proceedings or in judicial decisions. 2. In no case shall the provision of of paragraph 1 be construed so as to impost on a Contracting State the obligation: a to carry out administrative) measure the at variance with the laws and administrative practice of that or of the other Contracting State; (b) to supply information which is not) obtainabl is 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 disclos) 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). Article 28 members OF DIPLOMATIC missions AND CONSULAR posts Nothing in this Convention shall be affec the fiscal privileges of members of diplomatic missions or consular posts under the general rules of international law or under the provision of special agreements.
Chapter VII FINAL PROVISION article 29 ENTRY into force 1. The Governments of the Contracting States shall notify each other when the constitutional requirements for the entry into force of this Convention have been complied with. 2. The Convention shall enter into force on the date of the later of the notifications referred to in paragraph 1 and its provision shall have effect in both Contracting States: a in a) in respect of taxes withheld at source, on income derived on or after the first day of January in the calendar year next following the year in which the Convention enter into force; (b)) in respect of other taxes on income and taxes on capital, for taxes for any fiscal year beginning chargeabl on or after the first day of January in the calendar year next following the year in which the Convention enter into force. Article 30 TERMINATION this Convention shall remain in force until terminated by a Contracting State. Either Contracting State may terminate the Convention, through diplomatic channels, by giving written notice of termination at least six months before the end of any calendar year. In such event, the Convention shall cease to the have effect in both Contracting States: a in respect of taxes) withheld at source, on income derived on or after the first day of January in the calendar year next following the year in which the notice has been given; (b)) in respect of other taxes on income and taxes on capital, for taxes for any fiscal year beginning chargeabl on or after the first day of January in the calendar year next following the year in which the notice has been given. In witness whereof, the undersigned, duly authorised the theret, have signed this Convention. Done in duplicate at Athens this 27th day of March 2002, in the Latvian, Greek and English languages, all three texts being equally authentic. In the case of the divergenc of interpretation the English text shall prevails.

For the Government of the Republic of Latvia For the Government of the Hellenic Republic Aigars kalvītis Georgios Florida a