Approving The Agreement Between The Portuguese Republic And The Netherlands Associadodos Territory Of The Netherlands Antilles, By Exchange Of Letters, Respectively Of 22 June 2004 And 27 August 2004, Concerning The Taxation Of Savings Income And The

Original Language Title: Aprova o Acordo entre a República Portuguesa e o Território Associadodos Países Baixos das Antilhas Neerlandesas, por troca de Cartas, respectivamente de 22 de Junho de 2004 e de 27 de Agosto de 2004, Relativo à Tributação dos Rendimentos da Poupança e à

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Read the untranslated law here: http://app.parlamento.pt/webutils/docs/doc.pdf?path=6148523063446f764c3246795a5868774d546f334e7a67774c336470626d6c7561574e7059585270646d467a4c316776644756346447397a4c334277636a49774c5667755a47396a&fich=ppr20-X.doc&Inline=false

RESOLUTION No. 20/X whereas Directive No 2003/48/EC of 3 June 2003 on taxation of savings income in the form of interest payments (which aims to allow such income, paid in a Member State of the European Union to beneficial owners who are individuals with resident for tax purposes in another Member State, be subject to effective taxation in accordance with the legislation of the latter Member State) establishes that the application of the internal rules implementation depends on the conclusion of agreements or other arrangements that define that all the relevant dependent or associated territories of Member States to adopt measures equivalent or identical to those of the said directive; Whereas the agreement concluded with the Netherlands Antilles establishes the regulatory framework for this territory to adopt such measures, particularly those relating to taxation for retention by the paying agent on interest payments to individuals resident in Portuguese territory with distribution of revenue, which constitutes an essential element for the achievement of the objectives of Directive No. 2003/48/EC; So: under d) of paragraph 1 of article 197 of the Constitution, the Government presents to the Assembly of the Republic the following resolution: Approving the agreement between the Portuguese Republic and the Associated Territory of the Netherlands the Netherlands Antilles, by Exchange of letters, respectively of 22 June 2004 and 27 August 2004 Concerning the taxation of savings income and the provisional application thereof, whose text, Appendix 1 and Annex, authenticated versions in Portuguese, Dutch and English, if published in the annex.

Seen and approved by the Council of Ministers of 22 July 2005 the Prime Minister the Minister of Parliamentary Affairs Minister Presidency AGREEMENT in the FORM of an exchange of letters concerning the TAXATION of SAVINGS INCOME and the PROVISIONAL APPLICATION THEREOF. Letter of the Portuguese Republic Sir, I have the honour to refer to the texts of the "Convention between the Kingdom of the Netherlands for the Netherlands Antilles, and (Belgium, Austria and Luxembourg), on the automatic exchange of information regarding savings income in the form of interest payments, "the" Convention between the Kingdom of the Netherlands concerning the Netherlands Antilles, and (the EU Member State other than Belgium, Luxembourg or Austria), on 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, Luxembourg or Austria), on 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) on the automatic exchange of information regarding savings income in the form of interest payments ", respectively, which resulted from negotiations of an agreement on taxation of savings with the Netherlands Antilles and Aruba, and were attached respectively as annexes I, II, III and IV to the result of the work of the high-level group of the Council of Ministers of the European Union of 12 March (Doc. 7660/04 FISC 68).

In the face of such texts, I have the honour to propose to you the "Convention on the automatic exchange of information regarding savings income in the form of interest payments" contained in Appendix 1 to this letter, and the mutual commitment to finalizing as soon as possible our internal constitutional requirements for the entry into force of this Convention and to proceed without delay to the reciprocal notification of these formalities are completed.

Pending the completion of the internal procedures and the entry into force of this Convention on 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 concerning the Netherlands Antilles, apply this Convention provisionally, within the framework of the obligations arising out of our respective national constitutions from 1 January 2005, or the date of application of Directive 2003/48/EC of 3 June 2003 on taxation of savings income in the form of interest payments, for the later of the dates.

If the above is acceptable by you, I have the honour to propose that this letter and your confirmation together constitute an agreement between Portugal and the Kingdom of the Netherlands concerning the Netherlands Antilles.

Please accept, Sir, the assurances of our highest consideration, for the Portuguese Republic Minister of State and Finance Made in Lisbon, in, 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 concerning the Netherlands Antilles, and (Belgium, Austria and Luxembourg), on the automatic exchange of information regarding savings income in the form of interest payments " the Convention between the Kingdom of the Netherlands concerning the Netherlands Antilles, and (the EU Member State other than Belgium, Luxembourg or Austria), on 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 or Luxembourg), on 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), on the automatic exchange of information regarding savings income in the form of interest payments ", respectively, which resulted from negotiations of an agreement on taxation of savings with the Netherlands Antilles and Aruba , and were attached respectively as annexes I, II, III and IV to the result of the work of the high-level group of the Council of Ministers of the European Union of 12 March (doc. 7660/04 FISC 68).

In the face of such texts, I have the honour to propose to you the "Convention on the automatic exchange of information regarding savings income in the form of interest payments" contained in Appendix 1 to this letter, and the mutual commitment to finalizing as soon as possible our internal constitutional requirements for the entry into force of this Convention and to proceed without delay to the reciprocal notification of these formalities are completed.

Pending the completion of the internal procedures and the entry into force of this Convention on 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 the obligations arising out of our respective national constitutions from 1 January 2005, or the date of application of Directive 2003/48/EC of 3 June 2003 on taxation of savings income in the form of interest payments, for the later of the dates.

If the above is acceptable by you, I have the honour to propose that this letter and your confirmation together constitute an agreement between Portugal and the Kingdom of the Netherlands concerning the Netherlands Antilles.

Please accept, Sir, the assurances of our highest consideration, "I confirm that the Netherlands Antilles agrees with the content of the letter from you.

Please accept, Sir, the assurances of our highest consideration.

The Netherlands Antilles Done in, in, in three copies. Appendix 1 CONVENTION BETWEEN the KINGDOM of the NETHERLANDS concerning the NETHERLANDS ANTILLES, and the Portuguese REPUBLIC CONCERNING the automatic exchange of INFORMATION REGARDING savings income in the FORM of INTEREST whereas: 1. Provides for paragraph 2 of article 17 of Directive 2003/48/EC (hereinafter referred to as "the Directive") of the Council of the European Union (hereinafter referred to as "the Council") concerning the taxation of savings for the Member States to adopt and publish the laws , regulations and administrative provisions necessary to comply with directive from 1 January 2005, provided that:-the Switzerland Confederation, the Principality of Liechtenstein, the Republic of San Marino, the Principality of Monaco and the Principality of Andorra apply from that same date measures equivalent to those laid down in the directive, in accordance with the agreements concluded between these countries and the European Community following a unanimous decision of the Council;

-have been awarded all agreements or other arrangements that establish that all the relevant dependent or associated territories apply from that date automatic exchange of information in the manner 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 articles 11 and 12.


2. Although constitute, within the meaning of the Directive, a territory associated with the EU, the Netherlands Antilles are not in EU fiscal territory that are not linked to the provisions of the directive. However, on the basis of an agreement between the Netherlands Antilles and the Netherlands, the Kingdom of the Netherlands wishes to conclude agreements for the Netherlands Antilles, with EU Member States in order to apply, from 1 January 2005, a withholding tax under the same conditions as those set out in articles 11 and 12 of the directive during the transitional period defined in article 10 , and, after the end of that transitional period, an automatic exchange of information in the manner provided for in chapter II.

3. The agreement between the Netherlands Antilles and the Netherlands, as referred to in point 2, depends on the adoption by all Member States, the laws, regulations and administrative provisions necessary to comply with the Directive, as well as compliance with the requirements laid down in article 17.

4. In this Convention, the Netherlands Antilles agree to apply the provisions of the directive, unless otherwise agreed at this Convention, with respect to beneficial owners resident in Portugal, and Portugal agrees to apply the provisions of the directive with regard to beneficial owners resident in the Netherlands Antilles.

The Government of the Kingdom of the Netherlands concerning the Netherlands Antilles, and the Government of Portugal, desiring to conclude a Convention which gives the possibility of applying the effective taxation of savings income in the form of interest paid in one of the Contracting States to beneficial owners who are individuals resident in the other Contracting State in accordance with the legislation of the latter in accordance with directive and in accordance with the intentions of the Contracting States outlined above, have agreed as follows: article 1 general scope 1. This Convention shall apply to interest paid by a paying agent established on the territory of either Contracting State in order to give the possibility of applying the effective taxation of savings income in the form of interest paid in one of the Contracting States to beneficial owners who are individuals resident for tax reasons, in another Contracting State, in accordance with the legislation of the latter. 2. The scope of this Convention shall be limited to taxation of savings income in the form of interest on the credits, excluding in particular issues relating to the taxation of pension and insurance benefits.

3. As regards the Kingdom of the Netherlands, this Agreement shall apply exclusively to the Netherlands Antilles.

Article 2 Definitions 1. For the purposes of this Convention, unless otherwise specified: (a) ")" a Contracting State "and" the other Contracting State ", respectively, the Kingdom of the Netherlands concerning the Netherlands Antilles, or Portugal, as the context so requires;

b) "Netherlands Antilles", part of the Kingdom of the Netherlands situated in Caribbean zone made up of the territories of the islands of Bonaire, Curacao, Saba, Sto. Eustace, and the Dutch part of St. Martin (St Maarten);

c) "Contracting Party" is the Member State of the European Union: Portugal;

d) "Directive" means the 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, apply from the date of signature of this Convention;

e) "actual recipient (s) (s)", the actual recipient (s) (s), within the meaning of article 2 of the Directive;

f) "paying agent (s) (s)", the paying agent (s) (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 authorised representative; II) in the case of Portugal: the competent authority of that State, within the meaning of article 5 of the Directive.

h) "I swear" (s) (s) interest within the meaning of article 6 of the Directive, taking due account of article 15;

I) any term not defined otherwise in the Convention will have the meaning given to it in the directive.

2. For the purposes of this Convention, the provisions of the Directive to which this Convention refers, "Contracting States", instead of "Member States".

Article 3 identity and determination of the place of residence of beneficial owners Each Contracting State must adopt and ensure the application in their territory, of the procedures necessary to allow the paying agent to identify the beneficial owners and their residence for the purposes of articles 4 to 6. These procedures will be consistent with the minimum standards established in paragraphs 2 and 3 of article 3 of the directive, it being understood that, in respect of the Netherlands Antilles with regard to (a)) of paragraph 2 and paragraph 3) of this article, the identity and residence of the beneficial owner shall be established on the basis of the information available to the paying agent through the application of relevant laws and regulations of the Netherlands Antilles. However, will no longer be applied the exemptions or dispensations eventually in force that have been granted on request to beneficial owners resident in Y under those provisions and shall not be granted any further exemptions or dispensations of this nature 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 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 after the end of the tax year of the Contracting State of the paying agent, for all interest paid during this exercise.

3. The exchange of information within the framework of this Convention shall be treated by the Contracting States in accordance with article 7 of Directive 77/799/EEC.

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 Netherlands Antilles, the Netherlands Antilles shall carry out a withholding tax on the interest at the rate of 15% during the first three years of this period, 20% for the subsequent three years and 35% thereafter. During the transitional period, the Netherlands Antilles will not be obliged to apply the provisions of article 4. However, receive Portugal information in accordance with this article.

2. The paying agent shall apply the withholding tax in the manner described in paragraphs 2 and 3 of article 11 of the Directive. 3. The application of the retention by the Netherlands Antilles will not prevent 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 assign the payment of interest, an entity referred to in paragraph 2 of article 4 of the Directive, established in Portugal, being considered the paying agent in place of the entity and apply the withholding tax on such interest, unless the entity has formally agreed to its name and address as well as the total amount of interest paid or attributed to him, are disclosed in accordance with the last subparagraph of that paragraph.

5. at the end of the transitional period, the Netherlands Antilles shall obligatorily under article 4 and will cease to apply the withholding tax and the revenue sharing provided for in articles 5 and 6. If, during the transitional period, the Netherlands Antilles will opt for applying the provisions of article 4, shall no longer apply the withholding tax and the revenue sharing provided for in articles 5 and 6.

Article 6 the revenue-sharing 1. The Netherlands Antilles will retain 25% of the revenue from the withholding tax referred to in paragraph 1 of article 5 and transfer 75% of these recipes for Portugal.

2. If applying the withholding tax in accordance with the provisions of paragraph 4 of article 5, the Netherlands Antilles will retain 25% of the revenue and transfer 75% of Portugal to revenue from the withholding tax applicable to interest paid to the entities referred to in paragraph 2 of article 4 of the Directive, established in Portugal.

3. Such transfers shall be made at the latest within six months after 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 the revenue-sharing system referred to in this article.

Article 7 exceptions to the retention system 1. The Netherlands Antilles shall provide for one or both of the procedures referred to in paragraph 1 of article 13 of the Directive in order to ensure that the beneficial owners may request that is not applied to any withholding tax.

2. at the request of the beneficial owner, the competent authority of the Contracting State of its residence for tax purposes shall issue a certificate in accordance with paragraph 2 of article 13 of the directive.

Article 8 Elimination of double taxation


Portugal will ensure the Elimination of any double taxation possibly resulting from the withholding tax 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 refund of the withholding tax.

Article 9 Other withholding taxes the Convention shall not prevent the Contracting States to apply other types of withholding tax, different from that provided for in article 5, in accordance with their respective laws or national conventions of double taxation.

Article 10 Implementation The Contracting States shall adopt and publish, before 1 January 2005, the laws, regulations and administrative provisions necessary to comply with this Convention.

Article 11 Annex the texts of the directive and article 7 of Directive 77/799/EEC of the Council of the European Union of 19 December 1977 concerning mutual assistance by the competent authorities of the Member States in the field of direct and indirect taxes, applicable on the date of signature of this Convention, are attached as annex to the Convention, which form an integral part. The text of article 7 of Directive 77/799/EEC in this annex shall be replaced by the text of that article in Directive 77/799/EEC, if the last magazine come into force before the date from which will come into force the provisions of this Convention.

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 formalities constitutionally required were observed in the respective States, and its provisions shall have effect from the date on which the directive is applicable, in accordance with paragraphs 2 and 3 of article 17 of the directive.

Article 13 Termination this Convention shall remain in force until it is denounced by one of the Contracting States. Any Member State may denounce the Convention, through diplomatic channels, at least six months notice before the end of the calendar year, after expiry of a period of three years from the date of its entry into force. In such event, the Convention shall cease to have effect in the periods started after the end of the calendar year in which the notice of termination was communicated.

Done in Portuguese, English and Dutch, each of these texts being equally authentic. If there is any divergence of interpretation between the different language versions, the English language text shall prevail.



For the Portuguese Republic by the Kingdom of the Netherlands concerning the Netherlands Antilles ANNEX article 7 provisions relating to secrecy 1. All the information a Member State becomes aware under this directive are considered secret in that State in the same manner as information obtained under their national legislation. In any case, such information:-will be made available only to the persons directly linked to the establishment of the tax or administrative control of tax-will only be disclosed for the purpose of judicial proceedings or of proceedings involving the application of administrative sanctions, put in place for establishing or reviewing of the tax or related with them, and only to people involved directly in these processes; may, however, disclose the information in public hearings or trial, if the competent authority of the Member State providing the information raises no objection at the time of providing the information for the first time.
-shall not be used, under any circumstances, for purposes other than for the purposes of taxation or legal process or process that involves the application of administrative sanctions, put in place for establishing or reviewing of the tax, or related to it. In addition, Member States may provide that the information referred to in the first subparagraph to be used for the establishment of other levies, duties and taxes referred to in article 2 of Directive 76/308/EEC.

2. The provisions of paragraph 1 does not require a Member State whose legislation or administrative practice, for internal purposes, more stringent limitations than those contained in the said paragraph 1, to provide information if the State concerned does not undertake to comply with any such restrictions.

3. By way of derogation from paragraph 1, the competent authority of the Member State providing the information may permit the use of this information for other purposes in the requesting State, provided that, according to its own legislation, their use is possible for the same purposes, in the same circumstances.

4. When the competent authority of a Member State consider that the information obtained from the competent authority of another Member State are likely to be useful to the competent authority of a third Member State, it may transmit it to the latter with the agreement of the competent authority which has provided.

----------------------------------OVEREENKOMST IN VORM VAN EEN BETREFFENDE BRIEFWISSELING BELASTINGHEFFING INKOMSTEN UIT OP SPAARGELDEN EN DE TOEPASSING VOORLOPIGE ERVAN a. Brief van de Portugese Republiek Mevrouw/Mr, Ik heb de eer you verwijzen naar de teksten van respectievelijk het Koninkrijk Overeenkomst tussen, der Nederlanden ten behoeve van de Nederlandse Antillen en (België, Oostenrijk of Luxemburg) automatic gegevensuitwisseling inzake inkomsten uit betreffende spaargelden in de vorm van rentebetaling Overeenkomst tussen het, Koninkrijk der Nederlanden ten behoeve van de Nederlandse Antillen en (andere I-lidstaat dan België, Oostenrijk en Luxemburg) automatic gegevensuitwisseling inzake inkomsten uit betreffende spaargelden in de vorm van rentebetaling, het Koninkrijk der Nederlanden Overeenkomst tussen ten behoeve van Aruba en (andere I-lidstaat dan België, Oostenrijk en Luxemburg) automatic gegevensuitwisseling inzake inkomsten uit betreffende spaargelden in de vorm van rentebetaling en de Overeenkomst tussen het Koninkrijk der Nederlanden ten behoeve van en (België , Oostenrijk of Luxemburg) automatic gegevensuitwisseling inzake betreffende inkomsten uit spaargelden in de vorm van rentebetaling. Deze teksten, die het resultaat zijn onderhandelingen met die van de Nederlandse Antillen en Aruba zijn een overeenkomst inzake belastingheffing gevoerd over inkomsten uit op zijn als bijlage spaargelden, respectievelijk I, II, III en IV toegevoegd aan het resultaat van de besprekingen van de Groep op hoog niveau van de Raad van Ministers van de Europese Unie van 12 maart (doc. 7660/04 FISC 68).

In het licht van de bovengenoemde teksten heb ik de Overeenkomst betreffende u eer automatic inkomsten uit spaargelden inzake gegevensuitwisseling in de vorm van rentebetaling in aanhangsel 1 bij deze brief voor te stellen en in overweging te geven dat wij er ons zo spoedig mogelijk verbinden wederzijds toe of interne formaliteiten voor de grondwettelijke inwerkingtreding van deze Overeenkomst te vervullen onverwijld voltooiing van elkaar en daarvan in kennis te stellen.

In afwachting van de voltooiing van deze interne procedures en deze Overeenkomst van inwerkingtreding van betreffende gegevensuitwisseling inzake inkomsten uit spaargelden automatic ones 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 onze respectieve binnenlandse grondwettelijke voorschriften, reeds 1 januari voorlopig zouden toepassen vanaf het tijdstip waarop vanaf 2005 of Richtlijn 2003/48/EEG van de Raad van 3 juni 2003 inkomsten uit op belastingheffing betreffende spaargelden in de vorm van rentebetaling wordt toegepast, indien dit tijdstip later herlina's.

IK stel voor dat hierbij, indien het bovenstaande voor uw aanvaardbaar regering is deze brief en uw, bottom tezamen overeenkomst tussen vormen een Portugal en het Koninkrijk der Nederlanden ten behoeve van de Nederlandse Antillen.

Hoogachtend, Voor de Portugese Republiek Gedaan you, op, in drie exemplaren. B. Brief van de Nederlandse Antillen Mr, Ik heb de eer u of bevestigen van uw brief you ontvangst van heden, als volgt welke luidt: "Mr,


IK heb de eer you verwijzen naar de teksten van respectievelijk het Koninkrijk Overeenkomst tussen, der Nederlanden ten behoeve van de Nederlandse Antillen en (België, Oostenrijk of Luxemburg) automatic gegevensuitwisseling inzake inkomsten uit betreffende spaargelden in de vorm van rentebetaling, het Koninkrijk der Nederlanden Overeenkomst tussen ten behoeve van de Nederlandse Antillen en (andere I-lidstaat dan België, Oostenrijk en Luxemburg) automatic gegevensuitwisseling inzake inkomsten uit betreffende spaargelden in de vorm van rentebetaling Overeenkomst tussen het, Koninkrijk der Nederlanden ten behoeve van Aruba en (andere I-lidstaat dan België, Oostenrijk en Luxemburg) automatic gegevensuitwisseling inzake inkomsten uit betreffende spaargelden in de vorm van rentebetaling en de Overeenkomst tussen het Koninkrijk der Nederlanden ten behoeve van Aruba en (België, Oostenrijk of Luxemburg) automatic gegevensuitwisseling inzake inkomsten uit betreffende spaargelden in de vorm van rentebetaling. Deze teksten, die het resultaat zijn van de handelingen-die onder Nederlandse Antillen en Aruba met zijn een overeenkomst inzake belastingheffing gevoerd over inkomsten uit op zijn als bijlage spaargelden, respectievelijk I, II, III en IV toegevoegd aan het resultaat van de besprekingen van de Groep op hoog niveau van de Raad van Ministers van de Europese Unie van 12 maart (doc. 7660/04 FISC 68).

In het licht van de bovengenoemde teksten heb ik de Overeenkomst betreffende u eer automatic inkomsten uit spaargelden inzake gegevensuitwisseling in de vorm van rentebetaling in aanhangsel 1 bij deze brief voor te stellen en in overweging te geven dat wij er ons zo spoedig mogelijk verbinden wederzijds toe of interne formaliteiten voor de grondwettelijke inwerkingtreding van deze Overeenkomst te vervullen onverwijld voltooiing van elkaar en daarvan in kennis te stellen.

In afwachting van de voltooiing van deze interne procedures en deze Overeenkomst van inwerkingtreding van betreffende gegevensuitwisseling inzake inkomsten uit spaargelden automatic ones 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 onze respectieve binnenlandse grondwettelijke voorschriften, reeds 1 januari voorlopig zouden toepassen vanaf het tijdstip waarop vanaf 2005 of Richtlijn 2003/48/EEG van de Raad van 3 juni 2003 inkomsten uit op belastingheffing betreffende spaargelden in de vorm van rentebetaling wordt toegepast, indien dit tijdstip later herlina's.

IK stel voor dat hierbij, indien het bovenstaande voor uw aanvaardbaar regering is deze brief en uw, bottom tezamen overeenkomst tussen vormen een Portugal en het Koninkrijk der Nederlanden ten behoeve van de Nederlandse Antillen.

Hoogachtend, "Ik heb de eer you u dat u bevestigen van deze brief voor de Nederlandse Antillen aanvaardbaar is.

Hoogachtend, Voor de Nederlandse Antillen Gedaan you, op, in drie exemplaren.

OVEREENKOMST TUSSEN HET KONINKRIJK DER NEDERLANDEN, TEN BEHOEVE VAN DE NEDERLANDSE ANTILLEN, EN DE PORTUGESE REPUBLIEK BETREFFENDE GEGEVENSUITWISSELING INZAKE INKOMSTEN UIT SPAARGELDEN AUTOMATIC ONES IN VORM VAN HETGEEN OVERWEGENDE RENTEBETALING VOLGT: 1. Artikel 17, lid 2, van Richtlijn 2003/48/EC (hierna "richtlijn" genoemd) van de Raad van de Europese Unie (hierna "Raad" genoemd) betreffende belastingheffing inkomsten uit op spaargelden in de vorm van rentebetaling bepaalt dat de wettelijke en bestuursrechtelijke bepalingen lidstaten of vaststellen en bekendmaken die nodig zijn om te voldoen aan deze richtlijn, waarvan de bepalingen vanaf 1 januari 2005 worden toegepast Zwitserse Bondsstaat mits:-de, het Vorstendom, de Republiek San Marino Liechtenstein, het Vorstendom en het Vorstendom Monaco Andorra diezelfde maatregelen die vanaf datum toepassen aan de gelijkwaardig zijn maatregelen waarin de richtlijn voorziet, zulks overeenkomstig de overeenkomsten die zij met de Europese Gemeenschap hebben gesloten met van genomen besluiten eenparigheid stemmen van de Raad;
-alle andere kracht van overeenkomsten of regelingen waarin wordt bepaald dat zijn alle betrokken afhankelijke of gebieden die vanaf geassocieerde datum automatic gegevensuitwisseling zoals toepassen voorgeschreven in hoofdstuk van de richtlijn II (of tijdens de in artikel 10 overgangsperiode een bepaalde bronbelasting toepassen die strookt met de in 11 12 vervatte voorwaarden en artikelen).

2. De Nederlandse Antillen liggen niet in het belastinggebied van de Europese Unie maar zijn voor de toepassing van de richtlijn een met de Europese Unie geassocieerd gebied en niet als zodanig 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 te sluiten overeenkomsten dat vanaf 1 januari houdende, 2005 tijdens de in artikel 10 van de richtlijn vastgestelde overgangsperiode een bronbelasting wordt toegepast die strookt met de in artikelen en 11 12 van de richtlijn vervatte voorwaarden en in het verstrijken van de overgangsperiode wordt toegepast gegevensuitwisseling automatic Zoals voorgeschreven in hoofdstuk van de richtlijn II.

3. De in het vorige bedoelde overeenkomst tussen punt de Nederlandse Antillen en Nederland op voorwaarde dat geldt de wettelijke bepalingen bestuursrechtelijke lidstaten of en hebben die nodig zijn vastgesteld om te voldoen aan de richtlijn en dat aan de voorschriften artikel 17 van de richtlijn van is voldaan.

4. Door middel van de onderhavige overeenkomst stemmen de Nederlandse Antillen ermee in bepalingen van de richtlijn of met betrekking tot gerechtigden uiteindelijk met woonplaats in Portugal toe te passen, hetgeen is bepaald onverminderd overigens hierin stemt ermee in Portugal, de richtlijn met betrekking tot toe te passen gerechtigden uiteindelijk met de Nederlandse Antillen woonplaats in.

De Regering van het Koninkrijk der Nederlanden, ten behoeve van de Nederlandse Antillen, en de Regering van Portugal, geleid door de een overeenkomst te sluiten Ashish die het mogelijk dat Belgian Government inkomsten uit spaargelden in de vorm van rentebetaling die in een van de staten overeenkomstsluitende worden verricht aan uiteindelijk een natuurlijke persoon die zijn gerechtigden en hun woonplaats in de andere staat overeenkomstsluitende hebben , overeenkomstig het effectief worden belast recht van laatstgenoemde overeenkomstsluitende staat, in overeenstemming met de richtlijn en met de door de hierboven overeenkomstsluitende staten zijn voornemens geuite, het overeengekomen following: Artikel Toepassingsgebied 1 1. Deze overeenkomst is van toepassing op rentebetalingen die door een op het grondgebied van een overeenkomstsluitende van staten uitbetalende instantie gevestigde worden verricht met als doel het mogelijk te maken dat inkomsten uit spaargelden in de vorm van rentebetalingen in een overeenkomstsluitende staat welke worden verricht aan uiteindelijk een natuurlijke persoon die zijn gerechtigden en hun woonplaats in de andere staat overeenkomstsluitende hebben , overeenkomstig het effectief worden belast nationale recht van de laatstgenoemde overeenkomstsluitende staat.

2. werkingssfeer van deze overeenkomst Of is beperkt tot op belastingheffing inkomsten uit spaargelden in de vorm van uit hoofde van rente schuldvorderingen; vraagstukken in verband met de fiscale behandeling van onder meer, verzekeringsuitkeringen en pensioenen vallen van deze overeenkomst werkingssfeer of buiten.

3. Wat het Koninkrijk der Nederlanden betreft, deze overeenkomst geldt alleen voor de Nederlandse Antillen.

Artikel Definities 2 1. Voor de toepassing van deze overeenkomst wordt, tenzij context anders vereist, verstaan onder:) "een overeenkomstsluitende staat en de andere overeenkomstsluitende staat": het Koninkrijk der Nederlanden ten behoeve van de Nederlandse Antillen of Portugal, naargelang context;

b) "de Nederlandse Antillen": het gedeelte van het Koninkrijk der Nederlanden dat in het gebied Caribische is gelegen en bestaat uit de eilandgebieden Bonaire, Curaçao, Saba, Sint-Eustatius en het Nederlandse deel van Sint-Maarten;

c) of overeenkomstsluitende zijnde staat van de lidstaat Europese Unie is: Portugal;

d) ' richtlijn ": 2003/48 Richtlijn/EG van de Raad van 3 juni 2003 betreffende belastingheffing inkomsten uit op spaargelden in de vorm van rentebetaling, zoals van toepassing op de datum van ondertekening van deze overeenkomst;

and) "uiteindelijk gerechtigde (n)": gerechtigde (n) uiteindelijk 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;

"bevoegde autoriteit"): (i) in het geval van) de Nederlandse Antillen: de minister van Financiën of zijn bevoegde vertegenwoordiger;

in het geval) van bevoegde autoriteit van Portugal: 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 wordt omschreven termen of anderszins betekenis gehecht die daaraan richtlijn wordt gegeven in de.

2. Voor de toepassing van de overeenkomst wordt in de bepalingen van deze overeenkomst of richtlijn waarnaar verwezen wordt in in ' plaats ' van "lidstaten" gelezen: overeenkomstsluitende staten.

Artikel 3 van de woonplaats Identiteit en uiteindelijk gerechtigde


Voor de toepassing van de artikelen 4 tot en met elke overeenkomstsluitende staat bepaalt 6 of die nodig zijn om de procedures uitbetalende instantie in staat te stellen de identiteit en woonplaats van de gerechtigde te stellen en uiteindelijk vast draagt zorg voor de toepassing van deze binnen zijn grondgebied procedures. Deze procedures voldoen aan de minimumnormen van artikel 3, leden 2 en 3 van de richtlijn, dien verstande dat, met, ten behoeve van de Nederlandse Antillen, wat betreft het bepaalde in lid 2, onder a), en in lid 3, onder a), identiteit van de woonplaats en uiteindelijk gerechtigde worden vastgesteld op grond van de informatie waarover de uitbetalende instantie krachtens de toepassing van de wettelijke bepalingen desbetreffende bestuursrechtelijke en van de Nederlandse Antillen beschikt. De bestaande vrijstellingen of ontheffingen voorkomend geval op verzoek die in aan gerechtigden uiteindelijk met woonplaats in Portugal zijn evenwel niet langer zijn verleend, van toepassing en aan die uiteindelijk geen verdere vrijstellingen worden gerechtigden of ontheffingen van dien aard verleend.

Artikel 4 Automatic gegevensuitwisseling 1. De bevoegde autoriteit van de overeenkomstsluitende staat van de uitbetalende instantie verstrekt in artikel 8 van de richtlijn bedoelde gegevens aan de bevoegde autoriteit van de andere overeenkomstsluitende waar staat de gerechtigde zijn woonplaats uiteindelijk heeft.

2. gebeurt automatisch gegevensverstrekking Of en ten minste eenmaal per jaar, binnen zes maanden na afloop van het belastingjaar van de overeenkomstsluitende staat van de uitbetalende instantie, voor alle dat jaar verrichte gedurende rentebetalingen.

3 behandelen of overeenkomstsluitende gegevensuitwisseling uit hoofde of staten 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 gerechtigde van de rente woonachtig uiteindelijk 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 overgangsperiode bronbelasting bedoelde, gedurende de eerste drie jaar van de overgangsperiode tegen een tarief van 15%, gedurende de drie jaar tegen een tarief following van 20%, en daarna een tarief tegen van 35%. Gedurende deze periode de Nederlandse Antillen niet gehouden zijn de bepalingen van artikel 4 toe te passen. De Nederlandse Antillen echter van gegevens ontvangen dat overeenkomstig artikel Portugal.

2. Of uitbetalende instantie houdt de bronbelasting in op de wijze als omschreven in artikel leden 2 en 3, 11, van de richtlijn.

3. opleggen van Het bronbelasting door de Nederlandse Antillen belet Portugal niet overeenkomstig het belasten you inkomsten of nationale recht van Portugal.

4. Tijdens de overgangsperiode kunnen de Nederlandse Antillen bepalen dat een uitbetaalt of een marktdeelnemer die rente rentebetaling bewerkstelligt voor een entiteit gevestigde als bedoeld in Portugal in artikel 4, lid 2, van de richtlijn, aangemerkt als uitbetalende instantie wordt in ' plaats ' van de entiteit, en hij de op die bronbelasting heft, tenzij de formeel entiteit aanvaard dat heeft haar naam en adres alsmede het totale auf van de rentebetaling die aan haar is verricht of voor haar is bewerkstelligd, worden meegedeeld overeenkomstig artikel 4 van de laatste) (, lid 2.

5. overgangsperiode Aan het einde van de Nederlandse Antillen zullen worden gevraagd of de bepalingen van artikel 4 toe te passen en zullen de Nederlandse Antillen niet langer verdeling van belastingopbrengsten en bronbelasting als bedoeld in de artikelen en toepassen 6 5. ALS de Nederlandse Antillen er tijdens de overgangsperiode voor kiest de bepalingen van artikel 4 toe te passen, zullen zij niet langer verdeling van belastingopbrengsten en bronbelasting als bedoeld in de artikelen en toepassen 6 5.

Artikel Verdeling van belastingopbrengsten 1 6. De Nederlandse Antillen behouden 25% van de bronbelasting van opbrengsten als bedoeld artikel 1, lid 5, van 75% of dragen en opbrengsten over aan Portugal.

2. Indien de Nederlandse Antillen overeenkomstig artikel 4, lid 5, heffen, behouden zij bronbelasting 25% van de geheven op bronbelasting van opbrengsten rentebetalingen aan in Portugal als bedoeld in artikel entiteiten gevestigde 4, lid 2, van de richtlijn en 75% over dragen aan Portugal.

3. Die overdrachten ugly vinden in de zes maanden ' plaats ' uiterlijk following op het eind van het belastingjaar van de Nederlandse Antillen.

4. De Nederlandse Antillen die nodig zijn maatregelen treffen of om het systeem voor de verdeling van de belastingopbrengsten correct you doen functioneren.

Artikel 7 Uitzonderingen op de procedure van bronbelasting 1. De Nederlandse Antillen voorzien in één of beide van beide artikel 13 van procedures, lid 1, van de richtlijn om te verzekeren dat uiteindelijk een verzoek kunnen gerechtigden tot het indienen van niet-inhouden bronbelasting.

1. Op verzoek van de bevoegde autoriteit uiteindelijk geeft de gerechtigde van de overeenkomstsluitende staat deze zijn waar heeft een verklaring woonplaats fiscale af overeenkomstig artikel 13, lid 2, van de richtlijn.

Artikel 8 van dubbele belasting Voorkomen zorgt ervoor dat het Portugal heffen van bronbelasting als bedoeld in artikel 5 leidt tot niet overeenkomstig het bepaalde dubbele belasting, in artikel 14, leden 2 en 3 van de richtlijn, zorgt voor restitutie, of van de bronbelasting.

Artikel 9 Andere bronbelastingen De overeenkomst belet overeenkomstsluitende niet om of staten, naast de bronbelasting als bedoeld in artikel 5, overeenkomstig hun nationale wetten en verdragen voorkoming dubbele belasting van tot, ook andere bronbelastingen te heffen.

Artikel 10 overeenkomstsluitende Marko Omzetting Of 1 januari 2005 staten vóór de wettelijke en bestuursrechtelijke bepalingen vast te stellen en bekend te maken die nodig zijn om aan deze overeenkomst te voldoen.

Artikel 11 van de richtlijn Bijlage Of teksten en van artikel 7 van Richtlijn 77/799/EEG van de Raad van 19 december 1977 betreffende de wederzijdse van de bevoegde autoriteiten bijstand van de lidstaten op het gebied van de directe belastingen indirecte, en zoals die van toepassing zijn op de datum van ondertekening van deze overeenkomst en waarnaar verwezen wordt in deze overeenkomst als bijlage aan deze zijn, overeenkomst en integraal deel daarvan maken gehecht ITU. De tekst van artikel 7 van Richtlijn 77/799/EEG in deze bijlage wordt vervangen door de tekst van dat artikel in de Richtlijn gewijzigde 77/799/EEG indien deze richtlijn gewijzigde in werking treedt vóór de datum waarop deze overeenkomst van de bepalingen van kracht worden.

Artikel 12 Inwerkingtreding Deze overeenkomst treedt in werking op de dertigste dag in de laatste van waarop de regeringen respectieve date er elkaar hebben gesteld van in kennis dat in hun respectieve staten zijn vervuld voorgeschreven formaliteiten grondwettelijke en de toepassing op de bepalingen ervan ugly vinden vanaf de richtlijn welke datum 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 wordt beëindigd staten. Elke overeenkomstsluitende staat kan de overeenkomst beëindigen diplomatieke weg langs door ten minste zes maanden voor het einde van enig verstrijken van het kalenderjaar in een van drie jaar tijdvak datum van inwerkingtreding van in de overeenkomst kennis te geven van beëindiging. In dat geval van toepassing op houdt de overeenkomst te zijn voor tijdvakken die in het einde aanvangen van het kalenderjaar waarin de kennisgeving van beëindiging is gegeven.

Deze overeenkomst is opgesteld in Portugese, de Engelse en de Nederlandse taal gelijkelijk authentiek zijnde alle teksten,. In geval van verschil tussen interpretatie van de teksten in de verschillende talen, Engelse tekst is doorslaggevend.

Voor de Republiek Portugese Voor het Koninkrijk der Nederlanden ten behoeve van de Nederlandse Antillen BIJLAGE Artikel 7 Geheimhouding 1. Alle een lidstaat waarover uit hoofde inlichtingen van deze richtlijn beschikt, worden gehouden geheim lidstaat op deze in dezelfde wijze als met de gegevens die geschiedt deze uit hoofde van de lidstaat verkrijgt eigen nationale wetgeving. Hoe dan ook mogen deze inlichtingen:-alleen aan die personen have kennis worden gebracht die bij de vaststelling van de belastingschuld of bij de administratieve control in verband met de vaststelling van de betrokken zijn rechtstreeks, belastingschuld-alleen worden onthuld in gerechtelijke procedures of administratieve sancties waarbij procedures in worden toegepast, met het oog op ingesteld of in verband met de vaststelling van of inzake control of vaststelling van de belastingschuld , en alleen aan die personen die betrokken zijn bij deze rechtstreeks procedures; deze inlichtingen mogen echter openbare rechtszittingen tijdens de rechterlijke uitspraken worden vermeld of, indien de bevoegde autoriteit van de lidstaat die de inlichtingen verstrekt, daar geen bezwaar tegen op het moment dat zij Belgian Government of inlichtingen in eerste instantie verstrekt, geen geval worden gebruikt in voor andere doeleinden dan fiscale gerechtelijke procedures of doeleinden of administratieve sancties worden toegepast waarbij procedures met het oog op ingesteld, of in verband met de vaststelling van of inzake control of vaststelling van de belastingschuld. Bovendien kan door de lidstaten worden bepaald dat in de eerste alinea bedoelde mogen worden gebruikt om inlichtingen andere heffingen, rechten en vast te stellen die belastingen 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 praktijk voor administratieve nationale of verdergaande bevatten beperkingen doeleinden dan die welke zijn vervat in lid dit, gehouden tot het verstrekken inlichtingen van is indien de Staat voor deze zijn waar-zich verbindt niet bestemd, deze beperkingen verdergaande in achtte nemen.

3. In afwijking van het bepaalde in lid 1 van de bevoegde autoriteit kan of inlichtingen verstrekkende Lid-Staat dat toestaan in Lid-Staat die de inlichtingen ontvangt, deze ook voor andere doeleinden worden gebruikt, indien de van de wetgeving inlichtingen verstrekkende Lid-Staat in het eigen land gelijksoortig gebruik overeenkomstige omstandigheden onder een toestaat.

4. bevoegde autoriteit van een Wanneer de Lid-Staat van brass is innlichtingen die dat zij van de bevoegde autoriteit van een Lid-Staat heeft ontvangen andere, van kunnen zijn voor de nut bevoegde autoriteit van een derde Lid-Staat, kan zij de betrokken inlichtingen met toestemming van de bevoegde autoriteit die de inlichtingen heeft verstrekt aan de bevoegde autoriteit, doorgeven van laatstbedoelde Lid-Staat.


-----------------------AGREEMENT IN THE FORM OF AN EXCHANGE OF LETTERS ON THE TAXATION OF SAVINGS INCOME AND THE PROVISIONAL APPLICATION COPIES THEREOF a. Letter from the Portuguese Republic Madam/Sir, I have the honour to refer to the texts of respectively 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 will result from the negotiations with the Netherlands Antilles and Aruba on the Savings Tax Agreement, and that were annexed, respectively the 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 comply at the earliest possible date with our internal constitutional formalities for the entry into force of this Convention and to notify each other without delay when such formalities 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 constitute 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 Portuguese Republic Minister of State and Finance Done at Lisbon, on 22 JUNE, 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 respectively 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 will result from the negotiations with the Netherlands Antilles and Aruba on the Savings Tax Agreement, and that were annexed, respectively the 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 comply at the earliest possible date with our internal constitutional formalities for the entry into force of this Convention and to notify each other without delay when such formalities 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 January 1, 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 constitute 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 PORTUGUESE REPUBLIC CONCERNING 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 provisions necessary to comply 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 apply from that same date 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 a 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 I 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, the 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 copies thereof , 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, as stated in the previous paragraph, is contingent on the adoption by all the Member States of the laws, regulations and administrative provisions necessary to comply with the Directive, and on the requirements of Article 17 of the Directive being met.


4. Through this Convention, the Netherlands Antilles agrees to apply the provisions of the Directive, subject to what is otherwise agreed herein, in regard of Beneficial Owners that are residents of Portugal and Portugal agrees 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 completion date the Convention which enables 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. As regards 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 as the context requires;

(b)) The Netherlands Antilles mean that part of the Kingdom of the Netherlands that is situated in the Caribbean area and consists of the Island territories of Bonaire, Curacao, 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, 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 meaning 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 comply 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 special dispensations, if any, provided on request to Beneficial Owners resident in Portugal under these provisions shall cease to apply and no further exemptions or special 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 Contracting State of the Paying Agent, for all Interest Payments made during that year.

3. Information exchange under this Convention shall be treated 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 the withholding tax on Interest Payments at the rate of 15% during the first three years of the transitional period, 20% for the three years and 35% by the company thereafter. During this period, the Netherlands Antilles shall not be required to apply 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 imposition of withholding tax by the Netherlands Antilles Portugal shall not preclude 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 communicated in accordance with the last subparagraph of that paragraph.

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 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 levies 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 levied 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 the tax be withheld.

2. At the request of the Beneficial Owner, the Competent Authority of his Contracting 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 imposition 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 preclude 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 Before 1 January 2005 the Transposition Contracting States shall adopt and publish the laws, regulations and administrative provisions necessary to comply with this Convention.

Article 11 Annex 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 concerning mutual assistance, by the competent authorities of the Member States in the field of direct and indirect taxation, 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 formalities constitutionally required in their respective States have been complied 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 Portuguese, 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 prevail.

For the Portuguese Republic For the Kingdom of the Netherlands in Respect of the Netherlands Antilles ANNEX 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 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 undertaken with a view to, or relating to, the making or reviewing 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 supplying the information raises the objection, it shall in general circumstances be used other than for taxation purposes or in connection with judicial proceedings or administrative proceedings involving sanctions undertaken with a view to, or in relation to, the making or reviewing of the tax assessment. In addition, Member States may provide for the information referred to in the first subparagraph to be used for assessment of other levies, 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 undertake to respect those narrower limits.

3. Notwithstanding 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 could, in similar general circumstances, be used in the informing State for similar purposes.

4. Where the competent authority of the 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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