Key Benefits:
MOTION FOR RESOLUTION No. 20 /X
Considering that the Council Directive No 2003 /48/CE of June 3, 2003,
on the taxation of income from savings in the form of interest (which aims to
enable those income, paid in a Member State of the European Union to
actual beneficiaries who are natural persons with a tax residence in another
Member State, shall be subject to effective taxation in accordance with
legislation of the latter Member State) establishes that the implementation of the provisions
internal transposition depends on the conclusion of agreements or other arrangements that
define that all dependent territories or relevant associates of states-
Members adopt equivalent or identical measures to those of the said Directive;
Considering that the Agreement entered into with the Netherlands Antilles enshrines the framework
normative for this territory to adopt the said measures, particularly the
relating to taxation for retention by the paying agent on interest payments to
natural persons residing in Portuguese territory with revenue allocation, which
constitutes an essential element in achieving the objectives of the Directive n.
2003 /48/CE;
Thus:
Under the terms of the paragraph d) of Article 197 (1) of the Constitution, the Government presents to the
Assembly of the Republic the following motion for a resolution:
Approves the Agreement between the Portuguese Republic and the Associated Territory of the Countries
Low of the Netherlands Antilles, by Exchange of Letters, respectively June 22
of 2004 and of August 27, 2004, Relative to the Taxation of the Earnings of the
Savings and the respective provisional application, the text of which, Appendix 1 and Annex, in the
certified versions in the Portuguese, English and Dutch languages, publishes in attachment.
Seen and approved in Council of Ministers of July 22, 2005
The Prime Minister
The Minister of the Presidency
The Minister of Parliamentary Affairs
AGREEMENT
IN THE FORM OF AN EXCHANGE OF LETTERS
ON THE TAXATION OF SAVINGS INCOME
AND TO THE RESPECTIVE PROVISIONAL APPLICATION
A. Charter of the Portuguese Republic
Excelent Lord,
I have the honour of referring back to the texts of the " Convention between the Kingdom of the Countries
Low, in respect of the Netherlands Antilles, and (Belgium, Austria and the
Luxembourg), on the automatic exchange of information in respect of income of the
savings in the form of interest ", of the" Convention between the Kingdom of the Netherlands,
relatively to the Netherlands Antilles, and (the EU Member State, other than Belgium,
o Austria or Luxembourg), on the automatic exchange of information in respect of
income from savings in the form of interest ", from the" Convention between the Kingdom of the
The Netherlands, in respect of Aruba, and (the EU Member State other than Belgium, the
Austria or Luxembourg), on the automatic exchange of information in respect of
income from savings in the form of interest "and the" Convention between the Kingdom of
The Netherlands, relatively to Aruba, and (Belgium, Austria and Luxembourg), on the
automatic exchange of information in the subject of savings income in the form of
interest ", respectively, which resulted from the negotiations of an Agreement on
Taxation of Savings with the Netherlands Antilles and Aruba, and were apensed,
respectively as Annexes I, II, III and IV to the outcome of the proceedings of the Group of
High Level of the Council of Ministers of the European Union of March 12 (Doc. 7660/04
FISC 68).
In the face of the said texts, I have the honour to propose V. Ex. th " Convention on the
automatic exchange of information in the subject of savings income in the form of
interest " contained in Appendix 1 to this letter, and the mutual commitment of ultimarms
with the greatest possible brevity our internal constitutional formalities for the
entry into force of this Convention and of proceeding without delay to the notification
reciprocating that these formalities are completed.
Pending the completion of the internal tramites and the entry into force of the present
" Convention on the automatic exchange of information in respect of income of the
savings in the form of interest ", I have the honour to propose to V. Ex que Portugal and the
Kingdom of the Netherlands, in respect of the Netherlands Antilles, apply the present
Convention provisionally, in the framework of the obligations arising from our
respective national constitutions, as of January 1, 2005, or of the date of
implementation of Council Directive 2003 /48/CE of June 3, 2003 on the
taxation of income from savings in the form of interest, worth the later of the
dates.
If the above is acceptable by the Government of V. Ex. th, I have the honour to propose that the
this letter and your confirmation shall jointly constitute an Agreement between
Portugal and the Kingdom of the Netherlands, in respect of the Netherlands Antilles.
Want to accept, Excellent Lord, the protests of our highest regard,
By the Portuguese Republic
Minister of State and Finance
Made in Lisbon, in, in three copies.
B. Letter from the Netherlands Antilles
Excelent Lord,
I have the honour to acknowledge receipt of your letter of Your Honour dated today, of the
following content:
" Excellent Lord (a),
I have the honour of referring back to the texts of the " Convention between the Kingdom of the Countries
Low, in respect of the Netherlands Antilles, and (Belgium, Austria and the
Luxembourg), on the automatic exchange of information in respect of income
of the savings in the form of interest ", of the" Convention between the Kingdom of the Countries
Low, in respect of the Netherlands Antilles, and (the EU Member State, which
not Belgium, Austria or Luxembourg), on the automatic exchange of
information on income from savings in the form of interest ", da
" Convention between the Kingdom of the Netherlands, relatively to Aruba, and (the State-
Member of the EU, other than Belgium, Austria or Luxembourg), on the exchange
automatic information in income from savings in the form of
interest "and of the" Convention between the Kingdom of the Netherlands, concerning Aruba, and
(Belgium, Austria and Luxembourg), on the automatic exchange of information
in respect of income from savings in the form of interest ", respectively,
that resulted from the negotiations of an Agreement on Taxation of Savings with
the Netherlands Antilles and Aruba, and were apensed, respectively as
Annexes I, II, III and IV to the outcome of the proceedings of the High-Level Group of the
Council of Ministers of the European Union of March 12 (Doc. 7660/04
FISC 68).
In the face of the said texts, I have the honour to propose V. Ex. a " Convention
on the automatic exchange of information in relation to savings income
in the form of interest " contained in Appendix 1 to this letter, and the commitment
mutual of ultimarmos with the greatest possible brevity of our formalities
internal constitutional requirements for the entry into force of this Convention and of
we proceed without delay to the reciprocal notification that such formalities are
completed.
Pending the completion of the internal tramites and the entry into force of the
present " Convention on the automatic exchange of information in respect of
income from savings in the form of interest ", I have the honour to propose to V. Ex.
that Portugal and the Netherlands Antilles apply this Convention
provisionally, in the framework of the obligations arising from our respective
national constitutions, as of January 1, 2005, or of the date of application
of Council Directive 2003 /48/CE of June 3, 2003 on the
taxation of income from savings in the form of interest, worth the most
tardy of the dates.
If the above is acceptable by the Government of V. Ex. th, I have the honour to propose
that the present letter and your confirmation shall jointly constitute an Agreement
between Portugal and the Kingdom of the Netherlands, regarding Antilles
Dutch.
Want to accept, Excellent Lord, the protests of our highest
consideration, "
I confirm that the Netherlands Antilles agree with the content of the letter of V. Ex.
Want to accept, Excellent Lord, the protests of our highest regard.
By The Dutch Antilles
Made in, in, in, in three copies.
Appendix 1
CONVENTION BETWEEN THE KINGDOM OF THE NETHERLANDS, REGARDING THE
DUTCH ANTILLES, AND THE PORTUGUESE REPUBLIC, ON THE
AUTOMATIC EXCHANGE OF INFORMATION IN RESPECT OF INCOME
FROM SAVINGS IN THE FORM OF INTEREST
CONSIDERING THE FOLLOWING:
1. Preview Article 17 (2) of Directive 2003 /48/CE (hereinafter referred to as " the
Directive ") of the Council of the European Union (hereinafter referred to as" the Council ")
on the taxation of income from savings that Member States
adopt and publish the laws, regulations and administrative provisions
necessary to comply with the Directive as of January 1, 2005,
provided that:
-the Swiss Confederation, the Principality of Liechtenstein, the Republic of Saint
Marino, the Principality of Monaco and the Principality of Andorra apply the
from the same date measures equivalent to those set out in the Directive, in
compliance with agreements entered into between these countries and the Community
European, following a unanimous decision by the Council;
-have been concluded all agreements or other arrangements which
to establish that all relevant dependent or associated territories
will apply, as of that date, the automatic exchange of information in the molds
provided for in Chapter II of the Directive, or, during the transitional period
defined in Article 10, a withholding tax under the conditions laid down in the
articles 11 and 12.
2. Although they constitute, within the meaning of the Directive, an associated territory of the EU, the
Dutch Antilles are not located in the EU tax territory, so they are not
linked to the provisions of the Directive. However, on the basis of an agreement between the
Dutch Antilles and the Netherlands, the Kingdom of the Netherlands wishes
conclude agreements, in respect of the Netherlands Antilles, with the States-
Members of the EU, in order to apply, as of January 1, 2005, a withholding
at the source under conditions identical to those listed in Articles 11 and 12 of the
Directive, during the transitional period defined in the respective Article 10, and,
after the end of that transitional period, an exchange of automatic information in us
molds provided for in its Chapter II.
3. The agreement between the Netherlands Antilles and the Netherlands, as referred to in the
item 2, depends on the adoption, by all Member States, of the provisions
legislative, regulatory and administrative necessary to comply with the
Directive, as well as the fulfilment of the requirements provided for in Article 17.
4. By this Convention, the Netherlands Antilles agree to apply the willing
in the Directive, unless otherwise agreed upon in this Convention, in the
concerning the Actual Beneficiaries resident in Portugal, and Portugal
agrees to apply the provisions of the Directive with regard to Beneficiaries
Effective residents in the Netherlands Antilles.
The Government of the Kingdom of the Netherlands, in respect of the Netherlands Antilles, and the
Government of Portugal, wishing to conclude a Convention that gives the possibility of
apply effective taxation to income from savings in the form of interest paid
in one of the Contracting States to the actual beneficiaries who are natural persons
residents in the other Contracting State, in accordance with the legislation of the latter,
in the terms of the Directive and in observance of the intentions of the Contracting States above
exposed, agreed the following:
Article 1.
General scope
1. This Convention shall apply to the interest paid by a paying agent
established in the territory of one of the Contracting States, in order to give the
possibility of applying effective taxation to the income from savings under
the form of interest paid in one of the Contracting States to the actual beneficiaries
that are resident natural persons, on tax grounds, in the other State
Contractor, in accordance with the legislation of the latter.
2. The scope of this Convention shall be limited to the taxation of the
income from savings in the form of interest for credits, excluding
in particular the issues related to the taxation of pensions and
insurance benefits.
3. As far as the Kingdom of the Netherlands is concerned, this Agreement shall apply
exclusively to the Netherlands Antilles.
Article 2.
Definitions
1. For the purposes of this Convention, unless otherwise stated, it shall be understood
by:
a) "a Contracting State" and "the other Contracting State", respectively, the
Kingdom of the Netherlands, in respect of the Netherlands Antilles, or
Portugal, as the context so requires;
b) "the Netherlands Antilles", the part of the Kingdom of the Netherlands located in the
area of the Caribbean made up of the territories of the islands of Bonaire, Curaçao,
Saba, Sto. Eustachio, and the Dutch part of St. Martin (St. Maarten);
c) the "Contracting Party" constituting the Member State of the European Union shall be:
Portugal;
d) "Directive", Directive 2003 /48/CE of the Council of the European Union, of 3
of June 2003, on the taxation of income from savings under the
form of interest, applicable from the date of signature of the present
Convention;
e) "beneficial owner (s)", the beneficial owner (s), within the meaning of the
article 2 of the Directive;
f) "agent (s) payer (s)", the paying agent (s), within the meaning of Article 4.
of the Directive;
g) "competent authority"
i) in the case of the Netherlands Antilles: the Minister of Finance or his
authorized representative;
ii) in the case of Portugal: the competent authority of that State, in the
meaning of Article 5 of the Directive.
(h) "I swear (s)", the interest (s) within the meaning of Article 6 of the Directive,
duly in account of its Article 15;
i) Any term not otherwise defined in the Convention shall have the
meaning that it has been given in the Directive.
2. For the purposes of this Convention, to read, in the provisions of the Directive to which
referred to this Convention, "Contracting States", instead of " States-
Members ".
Article 3.
Identity and determination of the place of residence of the actual beneficiaries
Each Contracting State shall adopt and guarantee the application, in its territory, of the
procedures required to allow the paying agent to identify the
actual beneficiaries and the respective place of residence for the purposes of Articles 4 to
6. These procedures will be consenting to the minimum standards set out in the
n. paragraphs 2 and 3 of Article 3 of the Directive, being point to the point that, in respect of the Antilles
Dutch, with regard to points (a) of paragraph 2 and (a) of paragraph 3 of this article, the
identity and residence of the beneficial owner will be established on the basis of the
information available to the paying agent through the application of the provisions
relevant legislative and regulatory requirements of the Netherlands Antilles. However, they shall leave
of being applied for exemptions or waivers eventually in force that have been
granted, upon request, to the actual beneficiaries residing in Y in the framework of these
provisions and will not be granted any other exemptions or waivers from that
nature to such effective beneficiaries.
Article 4.
Automatic exchange of information
1. The competent authority of the Contracting State where the paying agent is
established shall communicate the information referred to in Article 8 of the Directive to
competent authority of the Contracting State of residence of the beneficiary
effective.
2. The communication of the information shall be automatic and shall be carried out at least one
time by year, within six months after the end of the state's fiscal year
Contractor of the paying agent, in relation to all interest paid during that
exercise.
3. The exchange of information in the context of this Convention shall be dealt with by the
Contracting States in accordance with the provisions of Article 7 of the Directive
77 /799/CEE.
Article 5.
Transitional provisions
1. During the transitional period referred to in Article 10 of the Directive, in which the
beneficial owner is resident in Portugal and the paying agent is resident in the
Dutch Antilles, the Netherlands Antilles will proceed to a withholding
source on interest at the rate of 15% during the first three years of this period,
of 20% during the subsequent three years and from 35% hereafter. During the
transition period, the Netherlands Antilles will not be required to apply the
provisions of Article 4. However, they will receive information from Portugal in
compliance with that article.
2. The paying agent shall apply the withholding tax in the moulds described in paragraphs 2 and 3
of Article 11 of the Directive.
3. The application of the withholding in the source by the Netherlands Antilles will not prevent
Portugal to tax the income in accordance with its domestic law.
4. During the transition period, the Netherlands Antilles can predict that a
economic operator who pays interest, or assigns the payment of interest, to a
entity referred to in Article 4 (2) of the Directive, established in Portugal, be
considered as the paying agent in place of the entity and apply the withholding on
source on these interest, unless the entity has formally accepted that the
your name and address, as well as the total amount of interest paid to you or
assigned, are communicated in harmony with the last paragraph of that
number.
5. At the end of the transition period, the Netherlands Antilles will apply
compulsorily the provisions of Article 4 and shall cease to apply withholding tax
and the allocation of the revenue provided for in Articles 5 and 6. Case, during the period
of transition, the Netherlands Antilles choose to apply the provisions of Article 4,
will cease to apply the withholding tax and the allocation of revenue provided for in the
articles 5 and 6.
Article 6.
Breakdown of revenue
1. The Netherlands Antilles will retain 25% of the revenue from the withholding
source referred to in Article 5 (1) and will transfer 75% of these revenue to
Portugal.
2. Should the case apply for withholding tax in accordance with the provisions of paragraph 4 of the
article 5, the Netherlands Antilles will retain 25% of the revenue and transfer to
Portugal 75% of revenue from withholding tax applied to interest
paid to the entities referred to in Article 4 (2) of the Directive, established in
Portugal.
3. These transfers will be carried out at the latest in the six-month period after
the term of the tax exercise of the Netherlands Antilles.
4. The Netherlands Antilles will take the necessary measures to ensure the
proper functioning of the revenue allocation system referred to in the
present article.
Article 7.
Exceptions to the restraint system
1. The Netherlands Antilles will establish one or both of the procedures
provided for in Article 13 (1) of the Directive in order to ensure that the
actual beneficiaries may request that no withholding be enforced
at the source.
2. At the request of the beneficial owner, the competent authority of the Contracting State
of your tax residence will issue a certificate in accordance with paragraph 2 of the
article 13 of the Directive.
Article 8.
Elimination of double taxation
Portugal will ensure the elimination of any double taxation eventually resulting
of the withholding tax as referred to in Article 5, in accordance with the provisions of paragraphs 2 and
3 of Article 14 of the Directive, or shall stipulate the restitution of the withholding tax.
Article 9.
Other retentions at the source
The Convention shall not prevent the Contracting States from applying other types of retention
at the source, other than that provided for in Article 5, in accordance with the respective
legislations or national conventions in double taxation.
Article 10.
Transposition
The Contracting States shall approve and publish them, before January 1, 2005, the
legislative, regulatory and administrative provisions necessary to give
compliance with this Convention.
Article 11.
Attachment
The texts of the Directive and Article 7 of Directive 77 /799/CEE of the Council of the Union
European, of December 19, 1977, concerning the mutual assistance of the authorities
competent Member States in the field of direct and indirect taxes,
applicable on the date of the signing of this Convention, are attached while Attachment
to the Convention, of which they form an integral part. The text of Article 7 of the Directive
77 /799/CEE in that Annex will be replaced by the text of the same article in the Directive
77 /799/CEE revised, should the latter enter into force before the date from which
shall enter into force the provisions of this Convention.
Article 12.
Entry into force
This Convention shall enter into force on the thirtieth day after the last of the dates on which
the respective Governments if they have reciprocally notified in writing that they have been
observed the formalities required constitutionally in the respective States, and the
its provisions shall take effect from the date on which the Directive is applicable, in
compliance with Article 17 (2) and (3) of the Directive.
Article 13.
Denunciation
This Convention shall remain in force until it is denounced by one of the
Contracting States. Any one of the States may denounce the Convention, by the
diplomatic avenues, upon notice at least six months before the end of the calendar year,
after fining a period of three years from the date of the respective entry into force.
In such an eventuality, the Convention will cease to produce effects in the periods initiated
after the end of the calendar year in which the notice of denunciation was communicated.
Made in the English and Dutch Portuguese languages, doing equally faith any of the
texts. Should there be any divergence of interpretation between the different versions
linguistics, will prevail in English language texts.
By the Portuguese Republic By the Kingdom of the Netherlands,
relatively to the Antilles
Dutch
ANNEX
Article 7.
Provisions on secrecy
1. All information that a Member State takes expertise in application
of this Directive are considered secret in that State, in the same way as
the information obtained in application of its national legislation. In any case, the
said information:
-they will be provided only to those directly connected to the establishment of the
tax or administrative control of the tax,
-shall only be disclosed for the purposes of the judicial process, criminal procedure or
process that involves the application of administrative sanctions, instituted for the
establishment or control of the establishment of the tax or with them
related, and solely to the persons who intervene directly in those
processes; they may, however, disclose the said information in the course of
public hearings or on trial, if the competent authority of the State-
Member providing the information not to present objections at the time in
that provides the information for the first time.
-shall not be used, in any case, for other purposes other than tax or
for the purposes of judicial process, criminal procedure or process that entails
the application of administrative sanctions, instituted for the establishment or the
control of the establishment of the tax, or with it related.
In addition, Member States may provide that the information referred to in the
first sub-paragraph are used for the establishment of other
quotizations, duties and taxes referred to in Article 2 of the Directive
76 /308/CEE.
2. The provisions of paragraph 1 shall not impose on a Member State, whose legislation or practice
administrative establish, for internal purposes, more constrained limitations than those
contained in the said paragraph 1, which provides information if the State concerned does not
commit to respecting such restrictions.
3. By way of derogation from the provisions of paragraph 1, the competent authority of the Member State
which provides the information may authorize the use of such information to
other purposes, in the requesting State, provided that, in accordance with its own
legislation, its use is possible for the same purposes, in the same
circumstances.
4. When the competent authority of a Member State considers that the
information that you have obtained from the competent authority of another Member State are
likely to be useful to the competent authority of a third State-
Member, may pass them on to the latter with the agreement of the competent authority
that has provided them.
----------------------------------
OVEREENKOMST
IN DE VORM VAN EEN BRIEFWISSELING
BETREFFENDE BELASTINGHEFFING OP INKOMSTEN UIT SPAARGELDEN
EN DE VOORLOPIGE TOEPASSING ERVAN
A. Brief van de Portugese Republiek
Mevrouw / Mijnheer,
Ik heb de eer te verwijzen naar de teksten van, respectievelijk, from Overeenkomst tussen
het Koninkrijk der Nederlanden ten behoeve van de Nederlandse Antillen en (België,
Oostenrijk of Luxemburg) betreffende automatische gegevensuitwisseling inzake
inkomsten uit spaargelden in de vorm van rentebetaling, from Overeenkomst tussen het
Koninkrijk der Nederlanden ten behoeve van de Nederlandse Antillen en (andere EU-
lidstaat dan België, Oostenrijk en Luxemburg) betreffende automatische
gegevensuitwisseling inzake inkomsten uit spaargelden in de vorm van rentebetaling, de
Overeenkomst tussen het Koninkrijk der Nederlanden ten behoeve van Aruba en
(andere EU-lidstaat dan België, Oostenrijk en Luxemburg) betreffende automatische
gegevensuitswisseling inzake inkomsten uit spaargelden in de vorm van rentebetaling en
from Overeenkomst tussen het Koninkrijk der Nederlanden ten behoeve van en (België,
Oostenrijk of Luxemburg) betreffende automatische gegevensuitwisseling inzake
inkomsten uit spaargelden in de vorm van rentebetaling. Deze teksten, die het resultaat
zijn van de onderhandelingen die met de Nederlandse Antillen en Aruba zijn gevoerd
over een overeenkomst inzake belastingheffing op inkomsten uit spaargelden, zijn
respectievelijk als bijlage I, II, III en IV toegevoegd aan het resultaat van de
bsquekingen van de Groep op hoog niveau van de Raad van de Europese van
Unie van 12 maart (doc. 7660/04 FISC 68).
In het licht van de bovengenoemde teksten heb ik de eer u of Overeenkomst betreffende
automatische gegevensuitwisseling inzake inkomsten uit spaargelden in de vorm van
rentebetaling in aanhangsel 1 bij deze brief voor te stellen, en in overweging te geven
dat wij er ons wederzijds toe verbinden zo spoedig mogelijk de interne grondwettelijke
formaliteiten voor de inwerkingtreding van deze Overeenkomst te vervullen en elkaar
onverwijld van de voltooiing daarvan in kennis te stellen.
In afwachting van de voltooiing van deze interne procedures en van de inwerkingtreding
van deze Overeenkomst betreffende automatische gegevensuitwisseling inzake
inkomsten uit spaargelden in de vorm van rentebetaling, stel ik u voor dat Portugal en
het Koninkrijk der Nederlanden ten behoeve van de Nederlandse Antillen deze
Overeenkomst, binnen de grenzen van eleven respectieve binnenlandse grondwettelijke
voorschriften, reeds voorlopig zouden toepassen vanaf 1 januari 2005 of vanaf het
tijdstip waarop Richtlijn 2003 /48/EEG van de Raad van 3 juni 2003 betreffende
belastingheffing op inkomsten uit spaargelden in de vorm van rentebetaling wordt
toegepast, indien dit tijdstip later valt.
Ik stel hierbij voor dat, indien het bovenstaande voor uw regering aanvaardbaar is, deze
brief en uw bevestiging tezamen een overeenkomst vormen tussen Portugal en het
Koninkrijk der Nederlanden ten behoeve van de Nederlandse Antillen.
Hoogachtend,
Voor de Portugese Republiek
Gedaan te, op, in drie exemplaren.
B. Brief van de Nederlandse Antillen
Mijnheer,
Ik heb de eer u of ontvangst te bevestigen van uw brief van heden, welke als volgt luidt:
" Mijnheer,
Ik heb de eer te verwijzen naar de teksten van, respectievelijk, from Overeenkomst tussen
het Koninkrijk der Nederlanden ten behoeve van de Nederlandse Antillen en
(België, Oostenrijk of Luxemburg) betreffende automatische gegevensuitwisseling
inzake inkomsten uit spaargelden in de vorm van rentebetaling, from Overeenkomst
tussen het Koninkrijk der Nederlanden ten behoeve van de Nederlandse Antillen en
(andere EU-lidstaat dan België, Oostenrijk en Luxemburg) betreffende automatische
gegevensuitswisseling inzake inkomsten uit spaargelden in de vorm van
renteebetaling, from Overeenkomst tussen het Koninkrijk der Nederlanden ten behoeve
van Aruba en (andere EU-lidstaat dan België, Oostenrijk en Luxemburg)
betreffende automatische gegevensuitsseling inzake inkomsten uit spaargelden in
de vorm van rentebetaling en de Overeenkomst tussen het Koninkrijk der
Nederlanden ten behoeve van Aruba en (België, Oostenrijk of Luxemburg)
betreffende automatische gegevensuitsseling inzake inkomsten uit spaargelden in
of vorm van rentebetaling. Deze teksten, die het resultaat zijn van de onder-
handelingen die met de Nederlandse Antillen en Aruba zijn gevoerd over een
overeenkomst inzake belastingheffing op inkomsten uit spaargelden, zijn
respectievelijk als bijlage I, II, III en IV toegevoegd aan het resultaat van de
bstalkingen van de Groep op hoog niveau van de Raad van de van de
Europese Unie van 12 maart (doc. 7660/04 FISC 68).
In het licht van de bovengenoemde teksten heb ik de eer u of Overeenkomst
betreffende automatische gegevensuitsseling inzake inkomsten uit spaargelden
in de vorm van rentebetaling in aanhangsel 1 bij deze brief voor te stellen, en in
overweging te geven dat wij er ons wederzijds toe verbinden zo spoedig mogelijk
de interne grondwettelijke formaliteiten voor de inwerkingtreding van deze
Overeenkomst te vervullen en elkaar onverwijld van de voltooiing daarvan in
kennis te stellen.
In afwachting van de voltooiing van deze interne procedures en van de
inwerkingtreding van deze Overeenkomst betreffende automatische
gegevensuitswisseling inzake inkomsten uit spaargelden in de vorm van
rentebetaling, stel ik u voor dat Portugal en het Koninkrijk der Nederlanden ten
behoeve van de Nederlandse Antillen deze Overeenkomst, binnen de grenzen van
eleven respectieve binnenlandse grondwettelijke voorschriften, reeds voorlopig
zouden toepassen vanaf 1 januari 2005 of vanaf het tijdstip waarop Richtlijn
2003 /48/EEG van de Raad van 3 juni 2003 betreffende belastingheffing op
inkomsten uit spaargelden in de vorm van rentebetaling wordt toegepast, indien
dit tijdstip later valt.
Ik stel hierbij voor dat, indien het bovenstaande voor uw regering aanvaardbaar is,
deze brief en uw bevestiging tezamen een overeenkomst vormen tussen Portugal
en het Koninkrijk der Nederlanden ten behoeve van de Nederlandse Antillen.
Hoogachtend, "
Ik heb de eer u te bevestigen dat de inhoud van deze brief voor de Nederlandse Antillen
aanvaardbaar is.
Hoogachtend,
Voor de Nederlandse Antillen
Gedaan te, op, in drie exemplaren.
OVEREENKOMST TUSSEN HET KONINKRIJK DER NEDERLANDEN, TEN
BEHOEVE VAN DE NEDERLANDSE ANTILLEN, EN DE PORTUGESE
REPUBLIEK BETREFFENDE AUTOMATISCHE GEGEVENSUITSELING
INZAKE INKOMSTEN UIT SPAARGELDEN IN DE VORM VAN
RENTEBETALING
OVERWEGENDE HETGEEN VOLGT:
1. Artikel 17, lid 2, van Richtlijn 2003 /48/EG (hierna genoemd "de richtlijn") van de
Raad van de Europese Unie (hierna genoemd "de Raad") betreffende
belastingheffing op inkomsten uit spaargelden in de vorm van rentebetaling
bepaalt dat de lidstaten de wettelijke en bestuursrechtelijke bepalingen vaststellen
en bekendmaken die nodig zijn om te voldoen aan deze richtlijn, waarvan de
bepalingen vanaf 1 januari 2005 worden toegepast mits:
-from Zwitserse Bondsstaat, het Vorstendom Liechtenstein, from Republiek San
Marino, het Vorstendom Monaco en het Vorstendom Andorra vanaf diezelfde
datum maatregelen toepassen die gelijkwaardig zijn aan de maatregelen
waarin de richtlijn voorziet, zulks overeenkomstig from overeenkomsten die zij
met by Europese Gemeenschap hebben gesloten at the met eenparigheid van
stemmen genomen besluiten van de Raad;
-alle overeenkomsten of andere regelingen van kracht zijn waarin wordt bepaald
dat alle betrokken afhankelijke of geassocieerde gebieden vanaf die datum
automatische gegevensuitwisseling toepassen zoals voorgeschreven in
hoofdstuk II van de richtlijn (of tijdens of in artikel 10 bepaalde
overgangsperiode een bronbelasting toepassen die strookt met de in
artikelen 11 en 12 vervatte voorwaarden).
2. From Nederlandse Antillen liggen niet in het belastinggebied van de Europese
Unie maar zijn voor de toepassing van de richtlijn een met of Europese Unie
geassocieerd gebied en als zodanig niet aan het bepaalde in de richtlijn
gebonden. Het Koninkrijk der Nederlanden is evenwel bereid om ten behoeve
van de Nederlandse Antillen, op basis van een overeenkomst tussen de
Nederlandse Antillen en Nederland, met de lidstaten van de Europese Unie
overeenkomsten te sluiten, houdende dat vanaf 1 januari 2005 tijdens of in
artikel 10 van de richtlijn vastgestelde overgangsperiode een bronbelasting
wordt toegepast die strookt met de in artikelen 11 en 12 van de richtlijn
vervatte voorwaarden en na het verstrijken van de overgangsperiode
automatische gegevensuitingwisseling wordt toegepast zoals voorgeschreven in
hoofdstuk II van de richtlijn.
3. De in het vorige punt bedoelde overeenkomst tussen de Nederlandse Antillen en
Nederland geldt op voorwaarde dat de lidstaten de wettelijke en
bestuursrechtelijke bepalingen hebben vastgesteld die nodig zijn om te voldoen
aan de richtlijn en dat aan de voorschriften van artikel 17 van de richtlijn is
voldaan.
4. Door middel van de onderhavige overeenkomst stemmen from Nederlandse Antillen
ermee in de bepalingen van de richtlijn met betrekking tot uiteindelijk
gerechtigden met woonplaats in Portugal toe te passen, onverminderd hetgeen
overigens hierin is bepaald, en Portugal stemt ermee in de richtlijn toe te passen
met betrekking tot uiteindelijk gerechtigden met woonplaats in de Nederlandse
Antillen.
De Regering van het Koninkrijk der Nederlanden, ten behoeve van de Nederlandse
Antillen, en de Regering van Portugal, geleid door de wens een overeenkomst te sluiten
die het mogelijk maakt dat inkomsten uit spaargelden in de vorm van rentebetaling die
in een van de overeenkomstsluitende staten worden verricht aan uiteindelijk
gerechtigden die een natuurlijke persoon zijn en hun woonplaats in de andere
overeenkomstsluitende staat hebben, effectief worden belast overeenkomstig het recht
van laatstgenoemde overeenkomstsluitende staat, in overeenstemming met from richtlijn
en met de hierboven door of overeenkomstsluitende staten geuite voornemens, zijn het
volgende overeengekomen:
Artikel 1
Toepassingsgebied
1. Deze overeenkomst is van toepassing op rentebetalingen die door een op het
grondgebied van een van de overeenkomstsluitende staten gevestigde uitbetalende
instantie worden verricht met als doel het mogelijk te maken dat inkomsten uit
spaargelden in de vorm van rentebetalingen welke in een overeenkomstsluitende
staat worden verricht aan uiteindelijk gerechtigden die een natuurlijke persoon zijn
en hun woonplaats in de andere overeenkomstsluitende staat hebben, effectief
worden belast overeenkomstig het nationale recht van de laatstgenoemde
overeenkomstsluitende staat.
2. De werkingssfeer van deze overeenkomst is beperkt tot belastingheffing op
inkomsten uit spaargelden in de vorm van rente uit hoofde van schuldvorderingen;
vraagstukken in verband met de fiscale behandeling van, onder meer, pensioenen
en verzekeringsuitkeringen vallen buiten de werkingssfeer van deze
overeenkomst.
3. Wat het Koninkrijk der Nederlanden betreft, geldt deze overeenkomst alleen voor
from Nederlandse Antillen.
Artikel 2
Definities
1. Voor de toepassing van deze overeenkomst wordt, tenzij of context anders vereist,
verstaan onder:
a) "een overeenkomstsluitende staat" en "de andere overeenkomstsluitende staat":
het Koninkrijk der Nederlanden ten behoeve van de Nederlandse Antillen of
Portugal, naargelang de context;
b) "de Nederlandse Antillen": het gedeelte van het Koninkrijk der Nederlanden
dat in het Caribische gebied is gelegen en bestaat uit de eilandgebieden
Bonaire, Curaçao, Saba, Sint-Eustatius en het Nederlandse deel van Sint-
Maarten;
c) of overeenkomstsluitende staat zijnde lidstaat van de Europese Unie is:
Portugal;
d) "richtlijn": Richtlijn 2003 /48/EG van de Raad van 3 juni 2003 betreffende
belastingheffing op inkomsten uit spaargelden in de vorm van rentebetaling,
zoals van toepassing op de datum van ondertekening van deze overeenkomst;
e) "uiteindelijk gerechtigde (n)": uiteindelijk gerechtigde (n) in de zin van
artikel 2 van de richtlijn;
f) "uitbetalende instantie (s)": uitbetalende instantie (s) in de zin van artikel 4
van de richtlijn;
g) "bevoegde autoriteit":
i) in het geval van de Nederlandse Antillen: de minister van Financiën
of zijn bevoegde vertegenwoordiger;
ii) in het geval van Portugal: de bevoegde autoriteit van die staat in de
zin van artikel 5 van de richtlijn;
h) "rentebetaling (en)": rentebetaling (en) in de zin van artikel 6 van de richtlijn,
met inachtneming van artikel 15 van de richtlijn;
i) aan niet anderszins omschreven termen wordt de betekenis gehecht die in de
richtlijn daaraan wordt gegeven.
2. Voor de toepassing van de overeenkomst wordt in de bepalingen van de richtlijn
waarnaar in deze overeenkomst wordt verwezen in plaats van "lidstaten" gelezen:
overeenkomstsluitende staten.
Artikel 3
Identiteit en woonplaats van de uiteindelijk gerechtigde
Voor de toepassing van de artikelen 4 tot en met 6 bepaalt elke overeenkomstsluitende
staat de procedures die nodig zijn om de uitbetalende instantie in staat te stellen de
identiteit en woonplaats van de uiteindelijk gerechtigde vast te stellen en draagt zorg
voor de toepassing van deze procedures binnen zijn grondgebied. Deze procedures
voldoen aan de minimumnormen van artikel 3, leden 2 en 3, van de richtlijn, met dien
verstande dat, ten behoeve van de Nederlandse Antillen, wat betreft het bepaalde in
lid 2, onder a), en in lid 3, onder a), de identiteit en de woonplaats van de uiteindelijk
gerechtigde worden vastgesteld op grond van de informatie waarover de uitbetalende
instantie krachtens de toepassing van de desbetreffende wettelijke en bestuursrechtelijke
bepalingen van de Nederlandse Antillen beschikt. De bestaande vrijstellingen of
ontheffingen die in voorkomend geval op verzoek aan uiteindelijk gerechtigden met
woonplaats in Portugal zijn verleend, zijn evenwel niet langer van toepassing en aan die
uiteindelijk gerechtigden worden geen verdere vrijstellingen of ontheffingen van dien
aard verleend.
Artikel 4
Automatische gegevensuitsseling
1. De bevoegde autoriteit van de overeenkomstsluitende staat van de uitbetalende
instantie verstrekt de in artikel 8 van de richtlijn bedoelde gegevens aan de
bevoegde autoriteit van de andere overeenkomstsluitende staat waar de
uiteindelijk gerechtigde zijn woonplaats heeft.
2. De gegevensverstrekking gebeurt automatisch en ten minste eenmaal per jaar,
binnen zes maanden in the afloop van het belastingjaar van de overeenkomstsluitende
staat van de uitbetalende instantie, voor alle gedurende dat jaar verrichte
rentebetalingen.
3. From overeenkomstsluitende staten behandelen de gegevensuitwisseling uit hoofde
van deze overeenkomst op een wijze die strookt met het bepaalde in artikel 7 van
Richtlijn 77 /799/EEG.
Artikel 5
Overgangsbepalingen
1. Indien de uiteindelijk gerechtigde van de rente woonachtig is in Portugal en de
uitbetalende instantie in de Nederlandse Antillen is gevestigd, heffen de
Nederlandse Antillen gedurende de in artikel 10 van de richtlijn bedoelde
overgangsperiode bronbelasting, gedurende de eerste drie jaar van de
overgangsperiode tegen een tarief van 15%, gedurende de volgende drie jaar tegen
een tarief van 20%, en daarna tegen een tarief van 35%. Gedurende deze periode
zijn de Nederlandse Antillen niet gehouden de bepalingen van artikel 4 toe te
passen. De Nederlandse Antillen ontvangen echter gegevens van Portugal
overeenkomstig dat artikel.
2. From uitbetalende instantie houdt of bronbelasting in op de wijze als omschreven in
artikel 11, leden 2 en 3, van de richtlijn.
3. Het opleggen van bronbelasting door of Nederlandse Antillen belet Portugal niet
de inkomsten te belasten overeenkomstig het nationale recht van Portugal.
4. Tijdens of overgangsperiode kunnen de Nederlandse Antillen bepalen dat een
marktdeelnemer die rente uitbetaalt of een rentebetaling bewerkstelligt voor een in
Portugal gevestigde entiteit als bedoeld in artikel 4, lid 2, van de richtlijn, wordt
aangemerkt als of uitbetalende instantie in plaats van de entiteit, en heft hij de
bronbelasting op die rente, tenzij de entiteit formeel heeft aanvaard dat haar naam
en adres alsmede het totale bedrag van de rentebetaling die aan haar is verricht of
voor haar is bewerkstelligd, worden meegedeeld overeenkomstig of laatste alinea
van artikel 4, lid 2.
5. Aan het einde van de overgangsperiode zullen from Nederlandse Antillen worden
gevraagd of bepalingen van artikel 4 toe te passen en zullen de Nederlandse
Antillen niet langer bronbelasting en verdeling van belastingopbrengsten als
bedoeld in de artikelen 5 en 6 toepassen. Als of Nederlandse Antillen er tijdens of
overgangsperiode voor kiest de bepalingen van artikel 4 toe te passen, zullen zij
niet langer bronbelasting en verdeling van belastingopbrengsten als bedoeld in de
artikelen 5 en 6 toepassen.
Artikel 6
Verdeling van belastingopbrengsten
1. From Nederlandse Antillen behouden 25% van de opbrengsten van de bronbelasting
als bedoeld artikel 5, lid 1, en dragen 75% van de opbrengsten over aan Portugal.
2. Indien de Nederlandse Antillen overeenkomstig artikel 5, lid 4, bronbelasting
heffen, behouden zij 25% van de opbrengsten van de bronbelasting geheven op
rentebetalingen aan in Portugal gevestigde entiteiten als bedoeld in artikel 4, lid 2,
van de richtlijn en dragen 75% over aan Portugal.
3. Die overdrachten vinden uiterlijk plaats in de zes maanden volgende op het eind
van het belastingjaar van de Nederlandse Antillen.
4. From Nederlandse Antillen treffen from maatregelen die nodig zijn om het systeem
voor de verdeling van de belastingopbrengsten correct te doen functioneren.
Artikel 7
Uitzonderingen op de procedure van bronbelasting
1. De Nederlandse Antillen voorzien in één van beide of beide procedures van
artikel 13, lid 1, van de richtlijn om te verzekeren dat uiteindelijk gerechtigden een
verzoek kunnen indienen tot het niet-inhouden van bronbelasting.
1. Op verzoek van de uiteindelijk gerechtigde geeft de bevoegde autoriteit van de
overeenkomstsluitende staat waar deze zijn fiscale woonplaats heeft een verklaring
af overeenkomstig artikel 13, lid 2, van de richtlijn.
Artikel 8
Voorkomen van dubbele belasting
Portugal zorgt ervoor dat het heffen van bronbelasting als bedoeld in artikel 5 niet leidt
tot dubbele belasting, overeenkomstig het bepaalde in artikel 14, leden 2 en 3, van de
richtlijn, of zorgt voor restitutie van de bronbelasting.
Artikel 9
Andere bronbelastingen
De overeenkomst belet de overeenkomstsluitende staten niet om, naast de bronbelasting
als bedoeld in artikel 5, overeenkomstig hun nationale wetten en verdragen tot
voorkoming van dubbele belasting, ook andere bronbelastingen te heffen.
Artikel 10
Omzetting
De overeenkomstsluitende staten dienen vóór 1 januari 2005 from wettelijke en
bestuursrechtelijke bepalingen vast te stellen en bekend te maken die nodig zijn om aan
deze overeenkomst te voldoen.
Artikel 11
Bijlage
De teksten van de richtlijn en van artikel 7 van Richtlijn 77 /799/EEG van de Raad van
19 december 1977 betreffende de wederzijdse bijstand van de bevoegde autoriteiten van
de lidstaten op het gebied van de directe en indirecte belastingen, zoals die van
toepassing zijn op de datum van ondertekening van deze overeenkomst en waarnaar in
deze overeenkomst wordt verwezen, zijn als bijlage aan deze overeenkomst gehecht en
maken integraal deel daarvan uit. De tekst van artikel 7 van Richtlijn 77 /799/EEG in
deze bijlage wordt vervangen door of tekst van dat artikel in de gewijzigde Richtlijn
77 /799/EEG indien deze gewijzigde richtlijn in werking treedt vóór de datum waarop de
bepalingen van deze overeenkomst van kracht worden.
Artikel 12
Inwerkingtreding
Deze overeenkomst treedt in werking op de dertigste dag na de laatste van de date
waarop de respectieve regeringen elkaar er van in kennis hebben gesteld dat de in hun
respectieve staten voorgeschreven grondwettelijke formaliteiten zijn vervuld en de
bepalingen ervan vinden toepassing op de datum vanaf welke from richtlijn
overeenkomstig artikel 17, leden 2 en 3, van de richtlijn van toepassing is.
Artikel 13
Beëindiging
Deze overeenkomst blijft van kracht totdat zij door een van beide
overeenkomstsluitende staten wordt beëindigd. Elke overeenkomstsluitende staat kan de
overeenkomst langs diplomatieke weg beëindigen door ten minste zes maanden voor het
einde van enig kalenderjaar na het verstrijken van een tijdvak van drie jaar na de datum
van inwerkingtreding van de overeenkomst kennis te geven van beëindiging. In dat
geval houdt from overeenkomst op van toepassing te zijn voor tijdvakken die aanvangen
at het einde van het kalenderjaar waarin de kennisgeving van beëindiging is gegeven.
Deze overeenkomst is opgesteld in Portugese, from Engelse en de Nederlandse taal, alle
teksten zijnde gelijkelijk authentiek. In geval van verschil van interpretatie tussen de
teksten in de verschillende talen, is de Engelse tekst doorslaggevend.
Voor de Portugese Republiek Voor het Koninkrijk der
Nederlanden ten
behoeve van de Nederlandse
Antillen
BIJLAGE
Artikel 7
Geheimhouding
1. Alle inlichtingen waarover een lidstaat uit hoofde van deze richtlijn
beschikt, worden in deze lidstaat geheim gehouden op dezelfde wijze als geschiedt met
de gegevens die deze lidstaat verkrijgt uit hoofde van de eigen nationale wetgeving. Hoe
dan ook mogen deze inlichtingen:
-alleen aan die personen ter kennis worden gebracht die bij de vaststelling
van de belastingschuld of bij de administratieve control in verband met de
vaststelling van de belastingschuld rechtstreeks betrokken zijn,
-alleen worden onthuld in gerechtelijke procedures of in procedures waarbij
administratieve sancties worden toegepast, ingesteld met het oog op of in
verband met from vaststelling van of control inzake from vaststelling van de
belastingschuld, en alleen aan die personen die rechtstreeks bij deze
procedures betrokken zijn; deze inlichtingen mogen echter tijdens openbare
rechtszittingen of bij rechterlijke uitspraken worden redness, indien de
bevoegde autoriteit van de lidstaat die de inlichtingen verstrekt, daar geen
bezwaar tegen maakt op het moment dat zij de inlichtingen in eerste
instantie verstrekt,
-in geen geval worden gebruikt voor andere doeleinden dan fiscale
doeleinden of gerechtelijke procedures of procedures waarbij
administratieve sancties worden toegepast, ingesteld met het oog op of in
verband met from vaststelling van of control inzake from vaststelling van de
belastingschuld.
Bovendien kan door de lidstaten worden bepaald dat de in de eerste alinea
bedoelde inlichtingen mogen worden gebruikt om andere heffingen, rechten en
belastingen vast te stellen die vallen onder artikel 2 van Richtlijn 76 /308/EEG.
2. Het bepaalde in lid 1 houdt niet in dat een Lid-Staat waarvan de wetgeving of de
administratieve praktijk voor nationale doeleinden verdergaande beperkingen
bevatten dan die welke in dit lid zijn vervat, gehouden is tot het verstrekken van
indien inlichtingen indien de Staat waar-voor deze zijn bestemd, zich niet verbindt deze
verdergaande beperkingen in achtte nemen.
3. In afwijking van het bepaalde in lid 1 kan de bevoegde autoriteit van de
inlichtingen verstrekkende Lid-Staat toestaan dat in de Lid-Staat die de
inlichtingen ontvangt, deze ook voor andere doeleinden worden gebruikt, indien
from wetgeving van de inlichtingen verstrekkende Lid-Staat in het eigen land een
gelijksoortig gebruik onder overeenkomstige omstandigheden toestaat.
4. Wanneer de bevoegde autoriteit van een Lid-Staat van mening is dat de
innlichtingen die zij van de bevoegde autoriteit van een andere Lid-Staat heeft
ontvangen, van nut kunnen zijn voor de bevoegde autoriteit van een derde Lid-
Staat, kan zij de betrokken inlichtingen met toestemming van de bevoegde
autoriteit die of inlichtingen heeft verstrekt, doorgeven aan de bevoegde autoriteit
van laatstbedoelde Lid-Staat.
-----------------------
AGREEMENT
IN THE FORM OF AN EXCHANGE OF LETTERS
ON THE TAXATION OF SAVINGS INCOME AND THE PROVISIONAL
APPLICATION
DATA
A. Letter from the World's Republic
Madam / Sir,
I have the honour to refer to the texts of the " Convention between the
Kingdom of the Netherlands in respect of the Netherlands Antilles and (Belgium,
Austria and Luxembourg) concerning the automatic exchange of information regarding
savings income in the form of interest payments ", the" Convention between the
Kingdom of the Netherlands in respect of the Netherlands Antilles and (the EU Member
State, other than Belgium, Austria and Luxembourg) concerning the automatic
exchange of information regarding savings income in the form of interest payments ",
the " Convention between the Kingdom of the Netherlands in respect of Aruba and (the
EU Member State, other than Belgium, Austria and Luxembourg) concerning the
automatic exchange of information regarding savings income in the form of interest
payments " and the " Convention between the Kingdom of the Netherlands in respect of
Aruba and (Belgium, Austria and Luxembourg) concerning the automatic exchange of
information regarding savings income in the form of interest payments ", that
from the negotiations with the Netherlands Antilles and Aruba on a Savings Tax
Agreement, and that were they were, to be carried out, as an Annex I, II, III and IV, to the
Outcome of Proceedings of the High Level Working Party of the Council of Ministers
of the European Union of 12 March (doc. 7660/04 FISC 68).
In view of the above mentioned texts I have the honour to propose to you the
" Convention concerning the automatic exchange of information regarding savings
income in the form of interest payments " as contained in Appendix 1 to this letter, and
our mutual undertaking to be at the earliest possible date with our internal
constitutional reform for the entry into force of this Convention and to notify each other
other without delay when such journalist are completed.
Pending the completion of these internal procedures and the entry into force of this
" Convention concerning the automatic exchange of information regarding savings
income in the form of interest payments ", I have the honour to propose to you that
Portugal and the Netherlands Antilles apply this Convention provisionally, within the
framework of our respective domestic constitutional requirements, as from 1 January
2005, or the date of application of Council Directive 2003 /48/EC of 3 June 2003 on
taxation of savings income in the form of interest payments, whichever is later.
I have the honour to propose that, if the above is acceptable to your Government, this
letter and your confirmation shall together receives an Agreement between Portugal
and the Kingdom of the Netherlands in respect to the Netherlands Antilles.
Please accept, Madam / Sir, the assurance of our highest consideration,
For the World Republic
Minister of State and Finance
Done at Lisbon , on Jun 22, in the English language in three copies.
B. Letter from the Netherlands Antilles
Sir,
I have the honour to acknowledge receipt of your letter of today's date, which reads as
follows:
" Sir,
I have the honour to refer to the texts of the " Convention between the
Kingdom of the Netherlands in respect of the Netherlands Antilles and (Belgium,
Austria and Luxembourg) concerning the automatic exchange of information regarding
savings income in the form of interest payments ", the" Convention between the
Kingdom of the Netherlands in respect of the Netherlands Antilles and (the EU Member
State, other than Belgium, Austria and Luxembourg) concerning the automatic
exchange of information regarding savings income in the form of interest payments ",
the " Convention between the Kingdom of the Netherlands in respect of Aruba and (the
EU Member State, other than Belgium, Austria and Luxembourg) concerning the
automatic exchange of information regarding savings income in the form of interest
payments " and the " Convention between the Kingdom of the Netherlands in respect of
Aruba and (Belgium, Austria and Luxembourg) concerning the automatic exchange of
information regarding savings income in the form of interest payments ", that
from the negotiations with the Netherlands Antilles and Aruba on a Savings Tax
Agreement, and that were they were, to be carried out, as an Annex I, II, III and IV, to the
Outcome of Proceedings of the High Level Working Party of the Council of Ministers
of the European Union of 12 March (doc. 7660/04 FISC 68).
In view of the above mentioned texts I have the honour to propose to you the
" Convention concerning the automatic exchange of information regarding savings
income in the form of interest payments " as contained in Appendix 1 to this letter, and
our mutual undertaking to be at the earliest possible date with our internal
constitutional reform for the entry into force of this Convention and to notify each other
other without delay when such journalist are completed.
Pending the completion of these internal procedures and the entry into force of this
" Convention concerning the automatic exchange of information regarding savings
income in the form of interest payments ", I have the honour to propose to you that
Portugal and the Kingdom of the Netherlands in respect of the Netherlands Antilles
apply this Convention provisionally, within the framework of our respective domestic
constitutional requirements, as from 1 January 2005, or the date of application of
Council Directive 2003 /48/EC of 3 June 2003 on taxation of savings income in the form
of interest payments, whichever is later.
I have the honour to propose that, if the above is acceptable to your Government, this
letter
and your confirmation shall together receives an Agreement between Portugal and the
Kingdom of the Netherlands in respect of the Netherlands Antilles.
Please accept, Sir, the assurance of our highest consideration, "
I am able to confirm that the Netherlands Antilles is in agreement with the contents of
your letter.
Please accept, Sir, the assurance of my highest consideration,
For the Netherlands Antilles
Done at , on, in the English language in three copies.
Appendix 1
CONVENTION BETWEEN THE KINGDOM OF THE NETHERLANDS IN
RESPECT OF THE NETHERLANDS ANTILLES AND THE WORLD
REPUBLIC THE AUTOMATIC EXCHANGE OF INFORMATION
REGARDING SAVINGS INCOME IN THE FORM OF INTEREST PAYMENTS
WHEREAS :
1. Article 17 (2) of Directive 2003 /48/EEC ("the Directive") of the Council of the
European Union ("the Council") on taxation of savings income provides that
Member States shall adopt and publish the laws, regulations and administrative
necessary to be necessary with the Directive from January 1, 2005,
provided that:
-the Swiss Confederation, the Principality of Liechtenstein, the Republic of
San Marino, the Principality of Monaco and the Principality of Andorra from
that same date apply measures equivalent to those contained in the Directive,
in accordance with agreements entered into by them with the European
Community, following unanimous decisions of the Council;
-all agreements or other arrangements are in place, which provide that all the
relevant dependent or associated territories apply from that date automatic
exchange of information in the same manner as is provided for in Chapter II
of the Directive, or, during the transitional period defined in Article 10,
apply for withholding tax on the same terms as are contained in Articles 11
and 12.
2. The Netherlands Antilles are not within the EU fiscal territory but are, for
purposes of the Directive, an EU associated territory and as such are not bound
by the terms of the Directive. However, the Kingdom of the Netherlands in
respect of the Netherlands Antilles, on the basis of an agreement between the
Netherlands Antilles and the Netherlands, is willing to enter into agreements
with the Member States of the EU to apply from January 1, 2005, a withholding
tax on the same terms as are contained in Articles 11 and 12 of the Directive
during the transitional period defined in Article 10 photographs, and, after expiration
of the transitional period, to apply automatic exchange of information in the
same manner as is provided for in Chapter II of the Directive.
3. The agreement between the Netherlands Antilles and the Netherlands, the differences in
the previous article, is contingent on the adoption by all the Member States of
the laws, regulations and administrative provisions necessary to be made with the
Directive, and on the requirements of Article 17 of the Directive being met.
4. Through this Convention, the Netherlands Antilles cript to apply the provisions
of the Directive, subject to what is otherwise agreed herein, in regard to Beneficial
Owners that are residents of Portugal and Portugal To apply the Directive in
regard to Beneficial Owners that are residents of the Netherlands Antilles.
The Government of the Kingdom of the Netherlands in respect of the Netherlands
Antilles and the Government of Portugal, desiring to have a Convention which
income savings income in the form of Interest Payments made in one of the Contracting
States to Beneficial Owners who are individuals resident in the other Contracting State,
to be made subject to effective taxation in accordance with the laws of the latter
Contracting State, in conformity with the Directive and with the intentions of the
Contracting States as laid down herein above, have agreed as follows:
Article 1
General Scope
1. This Convention shall apply to interest paid by a Paying Agent established within
the territory of one of the Contracting States with a view to enable savings income
in the form of Interest Payments made in one Contracting State to Beneficial
Owners who are individuals resident for tax purposes in the other Contracting
State to be made subject to effective taxation in accordance with the laws of the
latter Contracting State.
2. The scope of this Convention shall be limited to taxation of savings income in the
form of Interest Payments on debt claims, to the exclusion, inter alia, of the issues
relating to the taxation of pension and insurance benefits.
3. The Amendments to the Kingdom of the Netherlands, this Agreement shall apply only to
the Netherlands Antilles.
Article 2
Definitions
1. For the purposes of this Convention, unless the context otherwise requires:
a) The terms "a Contracting State" and "the other Contracting State" mean the
Kingdom of the Netherlands in respect of the Netherlands Antilles or Portugal
the context requires;
b) The Netherlands Antilles mean that part of the Kingdom of the Netherlands
that is situated in the Caribbean area and served of the Island territories of
Bonaire, Curaçao, Saba, St. Eustatius and the Dutch part of St. Maarten;
c) The "contracting party" being a Member State of the European Union means:
Portugal;
d) The term "Directive" means Directive 2003 /48/EC of the Council of the
European Union of 3 June 2003 on taxation of savings income in the form of
interest payments, the applicable at the date of signing this Convention;
e) the term "Beneficial Owner (s)" means the beneficial owner (s) according to
Article 2 of the Directive;
f) the term "Paying Agent (s)" means the paying agent (s) according to Article 4
of the Directive;
g) the term "Competent Authority" means:
i) In the case of the Netherlands Antilles: the Minister of Finance or his
authorised representative.
ii) In the case of Portugal: the competent authority of that State according to
Article 5 of the Directive.
h) the term "Interest Payment (s)" means the interest payment (s) according to
Article 6, due account being taken of Article 15, of the Directive;
i) Any term not otherwise defined herein shall have the contents given to it in
the Directive.
2. For the purposes of this Convention, in the provisions of the Directive to which this
Convention refers, instead of "Member States" has to be read: Contracting States.
Article 3
Identity and residence of beneficial owners
Each Contracting State shall, within its territory, adopt and ensure the application of the
procedures necessary to allow the Paying Agent to identify the Beneficial Owners and
their residence for the purpose of the Articles 4 to 6. These procedures shall be answered
with the minimum standards established in Article 3, paragraph 2 and 3 of the Directive,
with the provision, that, in regard to the Netherlands Antilles, in relation to
subparagraphs 2.a) and 3.a) of that Article, the identity and residence of the Beneficial
Owner shall be established on the basis of the information which is available to the
Paying Agent by virtue of the application of the relevant provisions of Netherlands
Antilles law and regulations. However, existing exemptions or dispensations, if any,
provided on request to Beneficial Owners resident in Portugal under these provisions
shall cease to apply and no further exemptions or dispensations of this nature shall be
provided to such Beneficial Owners.
Article 4
Automatic exchange of information
1. The Competent Authority of the Contracting State where the Paying Agent is
established, shall communicate the information referred to in Article 8 of the
Directive to the Competent Authority of the other Contracting State of residence
of the Beneficial Owner.
2. The communication of information shall be automatic and shall take place at least
once a year, within six months following the end of the tax year of the year
State of the Paying Agent, for all Interest Payments made during that year.
3. Information exchange under this Convention shall be accessible by the Contracting
States in a manner consistent with the provisions of Article 7 of Directive
77 /799/EEC.
Article 5
Transitional provisions
1. During the transitional period referred to in Article 10 of the Directive, where the
Beneficial Owner is resident in Portugal and the Paying Agent is resident in the
Netherlands Antilles, the Netherlands Antilles shall levy a withholding tax on
Interest Payments at a rate of 15% during the first three years of the transitional
period, 20% for the subsequent three years and 35% photographs. During this period,
the Netherlands Antilles shall not be required to apply for the provisions of Article 4.
It shall, however, receive information from Portugal in accordance with that
Article.
2. The Paying Agent shall levy the withholding tax in the manner as described in
Article 11, paragraphs 2 and 3 of the Directive.
3. The whole of withholding tax by the Netherlands Antilles shall not be withdrawn
Portugal from taxing the income in accordance with its national law.
4. During the transitional period, the Netherlands Antilles may provide that an
economic operator paying interest to, or securing interest for, an entity referred to
in Article 4, paragraph 2, of the Directive, established in Portugal shall be
considered the Paying Agent in place of the entity and shall levy the withholding
tax on that interest, unless the entity has formally agreed to its name, address and
the total amount of interest paid to it or secured for it being held in
accordance with the last telling of that.
5. At the end of the transitional period, the Netherlands Antilles shall be required to
apply the provisions of Article 4 and shall cease to apply for the withholding tax and
the revenue sharing provided for in Article 5 and Article 6. If, during the
transitional period, the Netherlands Antilles elects to apply the provisions of
Article 4, it shall no longer apply the withholding tax and the revenue sharing
provided for in Article 5 and Article 6.
Article 6
Revenue sharing
1. The Netherlands Antilles shall retain 25% of the revenue of the withholding tax
mentioned in Article 5, paragraph 1, and transfer 75% of the revenue to Portugal.
2. If the Netherlands Antilles withdraw withholding tax in accordance with Article 5,
paragraph 4, the Netherlands Antilles shall retain 25% of the revenue and transfer
75% to Portugal of the revenue of the withholding tax revenue on interest payments
made to entities referred to in Article 4, paragraph 2, of the Directive, established
in Portugal.
3. Such transfers shall take place at the latest within a period of six months following
the end of the tax year of the Netherlands Antilles.
4. The Netherlands Antilles shall take the necessary measures to ensure the proper
functioning of this revenue-sharing system.
Article 7
Exceptions to the withholding procedure
1. The Netherlands Antilles shall provide for one or both of the procedures of Article
13, paragraph 1, of the Directive in order to ensure that the Beneficial Owners
may request that no tax be withheld.
2. At the request of the Beneficial Owner, the Competent Authority of his
Member State of residence for tax purposes shall issue a certificate in
accordance with Article 13, paragraph 2, of the Directive. 12
Article 8
Elimination of double taxation
Portugal shall ensure the elimination of any double taxation which might result from the
withholding of the withholding tax referred to in Article 5, in accordance with the
provisions of Article 14, paragraphs 2 and 3, of the Directive or will provide a refund of
the withholding tax.
Article 9
Other withholding taxes
The Convention shall not be banned the Contracting States from levying other types of
withholding tax than that referred to in Article 5 in accordance with their national laws
or double-taxation conventions.
Article 10
From
Before 1 January 2005 the Contracting States shall adopt and publish the laws,
regulations and administrative provisions necessary to be made with this Convention.
Article 11
From
The texts of the Directive and of Article 7 of Directive 77 /799/EEC of the Council of
the European Union of 19 December, 1977 mutual assistance by the
competent authorities of the Member States in the field of direct and indirect taxation,
the applicable at the date of signing this Convention and to which this Convention refers,
are appended as an Annex to, and form an integral part of, this Convention. The text of
Article 7 of Directive 77 /799/EEC in this Annex shall be replaced by the text of the said
Article in the revised Directive 77 /799/EEC if this revised Directive enters into force
before the date from which the provisions of this Convention shall take effect.
Article 12
Entry Into Force
This Convention shall enter into force on the thirtieth day after the latter of the dates on
which the respective governments have notified each other in writing that the
constitutionally required constitutionally required in their respective States have been questioned with,
and its provisions shall have effect from the date from which the Directive is applicable
according to Article 17, paragraphs 2 and 3, of the Directive.
Article 13
Termination
This Convention shall remain in force until terminated by one of the Contracting States.
Either State may terminate the Convention, through diplomatic channels, by giving
notice of termination at least six months before the end of any calendar year after the
expiration of a period of three years from the date of its entry into force. In such event
the Convention shall cease to have effect for periods beginning after the end of the
calendar year in which the notice of termination has been given.
Done in the World, English and Dutch languages all texts being equally authentic.
In case there is any divergence of interpretation between the different language versions
of the texts, the English text shall be used.
For the Portuguese Republic For the Kingdom of the Netherlands
in
Respect of the Netherlands Antilles
The
Article 7
Provisions relating to secrecy
1. All information made known to a Member State under this Directive shall be kept
secret in that State in the same manner as the information received under its national
legislation. In any case, such information:
-may be made available only to the persons directly involved in the assessment of
the tax or in the administrative control of this assessment,
-may be made known only in connection with judicial proceedings or
administrative proceedings involving sanctions with a view to, or
relating to, the making or reducing the tax assessment and only to persons who
are directly involved in such proceedings; such information may, however, be
disclosed during public hearings or in judgements if the competent authority of
the Member State, the Member State, the information raises in the objection,
-shall in no proceedings be used other than for taxation purposes or in
connection with judicial proceedings or administrative proceedings involving
sanctions with a view to, or in relation to, the making or taking of
the tax assessment.
In addition, Member States may provide for the information referred to in the first
accused to be used for assessment of other obstacle, duties and taxes covered by
Article 2 of Directive 76 /308/EEC.
2. Paragraph 1 shall not oblige a Member State whose legislation or administrative
practice lays down, for domestic purposes, narrower limits than those contained in
the provisions of that paragraph, to provide information if the State concerned does
not least to respect those narrower limits.
3. paragraph 1, the competent authorities of the Member State
providing the information may permit it to be used for other purposes in the
requesting State, if, under the legislation of the informing State, the information
it could, in similar manner, be used in the informing State for similar
purposes.
4. Where the competent authority of a Member State considers that information which
it has received from the competent authority of another Member State is likely to
be useful to the competent authority of a third Member State, it may transmit it to
the latter competent authority with the agreement of the competent authority
which supplied the information.
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