The agreement on Exchange of information concerning taxes
The Kingdom of Sweden and the Bermuda signed on april 16
2009, together with the Protocol annexed to the
Agreement and as part of this, apply that law here in
the country. The agreement is drawn up in English and appears in annex
to this law.
Transitional provisions
2009:1117
1. this law shall enter into force on the day the Government determines.
2. this law shall be applied for fiscal years beginning on
1 January of the year following the year in which the law comes into force or
later, or, if the tax year is missing, the tax levied
on 1 January of the year following the year in which the law comes into force or
later. In the cases that make up these matters under the
the agreement will, however, Act apply from the
entry into force, but not earlier than 1 January
2010.
Annex
AGREEMENT BETWEEN THE KINGDOM OF SWEDEN AND BERMUDA (AS AUTHORISED BY THE GOVERNMENT OF THE UNITED KINGDOM OF GREAT BRITAIN AND NORTHERN IRELAND) ON THE EXCHANGE OF INFORMATION WITH RESPECT TO TAXES-------------------------------
The Government of Canada and the Government of Bermuda, desiring to facilitate the exchange of information with respect to taxes, have agreed as follows: Article 1 Object and scope of the Agreement
1. The competent authorities of the Parties shall provide assistance through exchange of information that is relevant to the administration or enforcement of the domestic laws of the Parties concerning taxes covered by this Agreement.
Such information shall include information that is relevant to the determination, assessment and collection of such taxes, the recovery and enforcement of tax claims, or the investigation or prosecution of tax matters. Information shall be exchanged in accordance with the provisions of this Agreement and shall be treated as confidential in the manner provided in Article 8.
2. This Agreement shall not affect the application in the Parties of the rules on mutual assistance in criminal matters.
Article 2
Jurisdiction
A requested Party is not obligated to provide information which is neither held by its authorities nor in the possession of or obtainable by persons who are within its territorial jurisdiction.
Article 3
Taxes covered
1. The existing taxes which are the subject of this Agreement are direct taxes of every kind and description imposed in the Parties.
2. This Agreement shall also apply to any identical or substantially similar taxes imposed after the date of signature of this Agreement in addition to, or in place of, the existing taxes. The competent authorities of the Parties shall notify each other of any substantial changes to the taxation and related information gathering measures covered by this Agreement.
Article 4
Definition
1. For the purposes of this Agreement, unless otherwise defined: (a) "Sweden" means the Kingdom of Sweden and, when used in a geographical sense, includes the national territory, the territorial sea of Canada as well as other maritime areas over which Sweden in accordance with international law, exercises sovereign rights or jurisdiction;
(b) "Bermuda" means the Islands of Bermuda;
(c) "applicant Party" means the Party requesting for or having received information from the requested Party;
(d) "collective investment fund or scheme" means any pooled investment vehicle, irrespective of legal form. The term "public collective investment fund or scheme" means any collective investment fund or scheme provided the units, shares or other interests in the fund or scheme can be readily purchased, sold or redeemed by the public. Units, shares or other interests in the fund or scheme can be readily purchased, sold or redeemed "by the public" if the purchase, sale or redemption is not implicitly or explicitly restricted to a limited group of investors;
(e) "company" means any body corporate or any entity that is treated as a body corporate for tax purposes;
(f) "competent authority" means, in the case of Canada, the Minister of Finance, his authorised representative or the authority which is designated as a competent authority for the purposes of this Agreement and, in the case of Bermuda, the Minister of Finance or an authorised representative of the Minister;
(g) "Party" means Canada or Bermuda as the context requires;
(h) "information" means any fact, statement or record in any form whatever;
(i) "information gathering measures" means laws and administrative or judicial procedures that enable a Party to obtain and provide the requested information;
(j) "national" means: (i) any individual possessing the nationality of a Party, or
(ii) any legal person or association constituted in accordance with the laws in force in a Party;
(k) "person" includes an individual, a company and any other body of persons;
(l) "principal class of shares" means the class or classes of shares representing a majority of the voting power and value of the company;
(m) "publicly traded company" means any company whose principal class of shares is listed on a recognised stock exchange provided its listed shares can be readily purchased or sold by the public. Shares can be purchased or sold "by the public" if the purchase or sale of shares is not implicitly or explicitly restricted to a limited group of investors;
(n) "recognised stock exchange" means any stock exchange agreed upon by the competent authorities of the Parties;
(o) "requested Party" means the Party requested to provide information;
(p) "resident" means:
(i) in the case of Canada, any person who, under the laws of Canada, is liable to tax therein by reason of his domicile, residence, place of management or any other criterion of a similar nature, and also includes the state of Singapore, any governmental body or agency, political subdivision or local authority thereof; the term "resident" does not include any person who is liable to tax in Canada in respect only of income from sources in Canada; and (ii) in the case of Bermuda, an individual who is ordinarily resident of Bermuda; and a company, partnership, trust, or association created under the laws of Bermuda;
(q) "serious tax evasion" wilfully dishonest means, with intent to defraud the public revenue, evading or attempting to evade any tax liability where an affirmative act or omission constituting an evasion or attempted evasion has occurred. The tax liability must be of a significant or substantial amount, either as an absolute amount or in relation to an annual tax liability, and the conduct involved must either constitute a systematic effort or pattern of activity designed or tending to conceal pertinent facts from or provide inaccurate facts to the tax authorities of either Party, or constitute falsifying or, titled concealing identity. The competent authorities shall agree on the scope and extent of matters falling within this definition; and (r) "tax" means any tax to which this Agreement applies.
2. The term "relevant" wherever used in the Agreement with respect to the information, shall be interpreted in a manner that ensures that information will be considered relevant, notwithstanding that a definite assessment of the pertinence of the information related to an ongoing investigation could only be made following the receipt of the information.
3. As regards the application of this Agreement at any time by a Party, any term not defined herein shall, unless the context otherwise requires, have the meaning that it has at that time under the law of that Party, any meaning under the applicable tax laws of that Party prevailing over a meaning given to the term under other laws of that Party.
Article 5
Exchange of information upon request
1. The competent authority of the requested Party shall provide upon request information for the purposes referred to in Article 1. Such information shall be exchanged without regard to whether the conduct being investigated would constitute a crime under the laws of the requested Party if such conduct occurred in the requested Party.
2. If the information in the possession of the competent authority of the requested Party is not sufficient to enable it to comply with the request for information, the requested Party shall use all relevant information gathering measures to provide the applicant Party with the information requested, notwithstanding that the requested Party may not need such information for its own tax purposes.
3. If specifically requested by the competent authority of the applicant Party, the competent authority of the requested Party shall provide information under this Article, to the extent allowable under its domestic laws, in the form of depositions of witnesses and authenticated copies of the original records.
4. Each Party shall ensure that its competent authority, for the purposes of this Agreement, has the authority to obtain and provide upon request: (a) information held by banks, other financial institutions, and any person, including nominees and trustees, acting in an agency or fiduciary capacity;
(b) information regarding the ownership of companies, partnerships and other persons, including, within the constraints of Article 2, ownership information on all such persons in an ownership chain; in the case of trusts, information on settlors, trustees, with and the position in an ownership chain; and in the case of foundations, information on founders, members of the
Foundation council and with and the position in an ownership chain.
5. This Agreement does not create an obligation on the Parties to obtain or provide: (a) ownership information with respect to publicly traded companies or public collective investment funds or schemes unless such information can be obtained without giving rise to disproportionate difficulties.
(b) information relating to a period of more than six years prior to the tax period under consideration;
(c) information unless the applicant Party has pursued all means available in its own Party to obtain the information, except those that would give rise to disproportionate difficulties.
(d) information in the possession of or obtainable by a person other than the taxpayer that does not directly relate to the taxpayer.
6. Where the applicant Party requests information with respect to a matter which does not constitute serious tax evasion, a senior official of its competent authority shall certify that the request is relevant to, and necessary for, the determination of the tax liability of the taxpayer under the laws of the applicant Party.
7. If information is requested that relates to a person that is not a resident, nor a national, in one or the other of the Parties, it also shall be established to the satisfaction of the competent authority of the requested Party that such information is necessary for the proper administration and enforcement of the fiscal laws of the applicant Party.
8. The competent authority of the applicant Party shall provide the following information to the competent authority of the requested Party when making a request for information under this Agreement to demonstrate the relevance of the information sought in the request: (a) the identity of the taxpayer under examination or investigation;
(b) grounds for believing that the information requested is held in or is in the possession of or obtainable by a person subject to the jurisdiction of the requested Party;
(c) to the extent known, the name and address of any person believed to be in possession of or able to obtain the information requested;
(d) a statement that the request conforms to the law and administrative practice of the applicant Party and that the information would be obtainable by the applicant Party under its laws in similar circumstances, both for its own tax purposes and in response to a valid request from the requested Party under this Agreement;
(e) a statement that the applicant Party has pursued all means available in its own Party to obtain the information, except those that would give rise to disproportionate difficulties.
and to the fullest extent possible:
(f) the nature and type of the information requested, including a description of the specific evidence, information or other assistance sought and the shape, if practicable, in which the applicant Party prefers to receive the information;
(g) the tax purposes for which the information is sought and why it is relevant to the determination of the tax liability of a taxpayer under the laws of the applicant Party;
(h) information that such taxpayer is a resident, or national of one of the Parties, or that it is necessary for the determination of the tax liability of a taxpayer under the laws of the applicant Party;
(i) the period of time with respect to which the information is required for the tax purposes.
9. The competent authority of the requested Party shall forward the requested information as promptly as possible to the applicant Party. To ensure a prompt response, the competent authority of the requested Party shall: (a) confirm receipt of a request in writing to the competent authority of the applicant Party and shall notify the competent authority of the applicant Party of deficiencies in the request, if any, within 60 days of the receipt of the request; and (b) if the competent authority of the requested Party has been unable to obtain and provide the information within 90 days of receipt of the request, including if it encounters obstacles in furnishing the information or it refuses to furnish the information, it shall immediately inform the applicant Party, explaining the reason for its inability, the nature of the obstacles or the reasons for its refusal.
Article 6
Tax examination abroad
1. The requested Party may allow, to the extent permitted under its domestic law, representatives of the competent authority of the applicant Party to enter the territory of the requested Party to interview individuals and examine records with the written consent of the person concerned. The competent authority of the applicant Party shall notify the competent authority of the requested Party of the time and place of the meeting with the individuals concerned.
2. At the request of the competent authority of the applicant Party, the competent authority of the requested Party may allow representatives of the competent authority of the applicant Party to be present at the appropriate part of a tax examination in the requested Party.
3. If the request referred to in paragraph 2 is acceded to, the competent authority of the requested Party conducting the examination shall, as soon as possible, notify the competent authority of the applicant Party about the time and place of the examination, the authority or official designated to carry out the examination and the procedures and conditions required by the requested Party for the conduct of the examination. All decisions with respect to the conduct of the tax examination shall be made by the requested Party conducting the examination.
Article 7
Possibility of declining a request
1. The competent authority of the requested Party may decline to assist where:
(a) the request is not made in conformity with this Agreement;
(b) the disclosure of the information requested would be contrary to public policy;
(c) the applicant Party would not be able to obtain the information (i) under its own laws for purposes of administration or enforcement of its own tax laws or (ii) in response to a valid request from the requested Party under this Agreement.
2. The provisions of this Agreement shall not impose on a Party the obligation to supply information which would disclose any trade, business, industrial, commercial or professional secret or trade process. Notwithstanding the foregoing, information of the type referred to in paragraph 4 of Article 5 shall not be treated as such a secret or trade process merely because it meets the criteria in that paragraph.
3. The provisions of this Agreement shall not impose on a Party the obligation to obtain or provide information which would reveal confidential communications between a client and an attorney, solicitor or other admitted legal representative where such communications are: (a) communications between a professional legal adviser and a client made in connection with the giving of legal advice to the client;
(b) are communications between a professional legal adviser and a client, professional legal adviser acting for the client and another person, or the client and another person made in connection with or in contemplation of legal proceedings and for the purposes of such proceedings; and (c) include items enclosed with or referred to in such communications and made:
(i) in connection with the giving of legal advice; or
(ii) in connection with or in contemplation of legal proceedings and for the purposes of such proceedings, when the items are in the possession of a person who is entitled to possession of them.
4. A request for information shall not be refused on the ground that the tax claim giving rise to the request is disputed.
5. The requested Party may decline a request for information if the information is requested by the applicant Party to administer or enforce a provision of the tax law of the applicant Party, or any requirement connected therewith, which discriminates against a national of the requested Party as compared with a national of the applicant Party in the same circumstances.
Article 8
Confidentiality
Any information received by a Party under this Agreement shall be treated as confidential and may be disclosed only to persons or authorities (including courts and administrative bodies) in the jurisdiction of the Party concerned with the assessment or collection of, the enforcement or prosecution in respect of, or the determination of appeals in relation to, the taxes covered by this Agreement , and to persons concerned with the regulation of disclosure and use of information. Such persons or authorities shall use such information only for such purposes. They may disclose the information in public court proceedings or in judicial decisions. The information may not be disclosed to any other person or entity or authority or any other jurisdiction without the express written consent of the competent authority of the requested Party.
Article 9
Safeguards
The rights and safeguards secured to persons by the laws or administrative practices of the requested Party remain applicable. The rights and safeguards may not be applied by the requested Party in a manner that unduly prevents or delays effective exchange of information.
Article 10
Costs
Incidence of costs incurred in providing assistance (including the reasonable costs of third parties and external advisors in connection with litigation or otherwise) shall be agreed by the competent authorities of the Parties.
Article 11
No prejudicial or restrictive measures
1. In the event that a Party has reason to believe that the other Party has introduced prejudicial or restrictive measures based on harmful tax practices to residents or nationals of the other Party, both Parties shall immediately initiate competent authority proceedings to resolve the matter.
2. A prejudicial or the restrictive measure based on harmful tax practices means a measure applied by one Party to residents or nationals of either Party on the basis that the other Party does not engage in effective exchange of information or because it lacks transparency in the operation of its laws, regulations or administrative practices, or on the basis of no or nominal taxes and one of the preceding criteria.
3. Without limiting the generality of the term "prejudicial or restrictive measures," it includes the denial of a deduction, credit or exemption, the imposition of a tax, charge or levy, or special reporting requirements. Such measures include any measure which relate, directly or indirectly, to taxation matters. However, they do not include any generally applicable measure, applied by either Party against, amongst others, members of the OECD generally.
Article 12
Mutual agreement procedure
1. The competent authorities of the Parties shall jointly endeavour to resolve any difficulties or doubts arising as to the interpretation or application of this Agreement.
2. In addition to the endeavour's referred to in paragraph 1, the competent authorities of the Parties may mutually determine the procedures to be used under Articles 5 and 6.
3. The competent authorities of the Parties may communicate with each other directly for the purposes of this Article.
Article 13
Entry into force
1. Each of the Parties shall notify the other in writing of the completion of the procedures required by its law for the entry into force of this Agreement.
2. The Agreement shall enter into force on the thirtieth day after the receipt of the later of these notifications and shall thereupon have effect: (a) for criminal tax matters, from the date of entry into force; However, no earlier than January 1st, 2010;
(b) for all other matters covered in Article 1, on the taxable period beginning on or after the first day of January of the year next following the date on which the Agreement enters into force, or where there is no taxable period, for all charges to tax arising on or after the first day of January of the year next following the date on which the Agreement enters into force , however, no earlier than January 1st, 2010.
Article 14
Termination
1. This Agreement shall remain in force until terminated by a Party. Either Party may terminate the Agreement, through diplomatic channels, by giving written notice of termination to the other Party. In such case, the Agreement shall cease to have effect on the first day of the month following the end of the period of six months after the date of receipt of notice of termination by the other Party.
2. In the event of termination, both Parties shall remain bound by the provisions of Article 8 with respect to any information obtained under the Agreement. In witness whereof the undersigned being duly authorised thereto have signed the Agreement.
Done at Washington, this 16th day of April, 2009, in duplicate in the English language.
For the Government of the Kingdom of Sweden
Jonas Hafström For the Government of Bermuda
Paula Ann Cox Protocol PROTOCOL TO THE AGREEMENT BETWEEN THE KINGDOM OF SWEDEN AND BERMUDA (AS AUTHORISED BY THE UNITED KINGDOM OF GREAT BRITAIN AND NORTHERN IRELAND) ON THE EXCHANGE OF INFORMATION WITH RESPECT TO TAXES At the moment of signing the Agreement on the exchange of information with respect to taxes between the Kingdom of Sweden and Bermuda, the Parties have agreed that the following provisions shall form an integral part of the Agreement : i. General provision
The Government of Bermuda will take the measures necessary to repeal any provision of its domestic legislation that requires that information is physically present for the purposes of the Agreement about. The Government of Sweden in turn will pursue all means available in its own territory to obtain the information, except those that would give rise to disproportionate difficulties.
II. Ad Article 5
In respect of paragraphs 6, 7 and 8 (h) of Article 5, the term ' necessary ' shall not be interpreted to restrict the general objectives as set out in Article 1. Certification by a senior official shall be sufficient to meet the equirements of those provisions.
In witness whereof the undersigned being duly authorised thereto have signed this Protocol.
Done at Washington, this 16th day of April, 2009, in duplicate in the English language.
For the Government of the Kingdom of Sweden
Jonas Hafström
For the Government of Bermuda
Paula Ann Cox (Translation)
AGREEMENT BETWEEN the KINGDOM of SWEDEN and BERMUDA (UNDER the AUTHORITY of the UNITED KINGDOM OF GREAT BRITAIN and NORTHERN IRELAND) on the EXCHANGE of INFORMATION RELATING to TAXES
The Swedish Government and the Government of Bermuda, desiring to facilitate the exchange of information relating to taxes;
have agreed as follows:
Article 1
Purpose and scope of the agreement
1. the competent authorities of the Parties shall assist each other with assistance through the exchange of information which is relevant for the application or enforcement of the domestic law of the parties concerning taxes covered by this agreement.
Such information shall include information relevant to the identification, assessment and collection of such taxes, debt collection and other enforcement measures in respect of the tax debt or for the investigation or prosecution of tax matters. Information shall be exchanged in accordance with the provisions of this agreement and shall be kept secret in the manner laid down in article 8.
2. this Agreement shall not affect the applicability of the parties of the provisions on mutual assistance in criminal matters.
Article 2
Jurisdiction
A requested Party is not obliged to provide information which is neither held by its authorities or held, or can be obtained by persons under its jurisdiction.
Article 3 Taxes covered by the agreement
1. The currently outgoing taxes covered by this agreement are direct taxes of every kind and nature, in the parties.
2. This agreement shall also apply to taxes for the same or essentially similar kind after the signing of the agreement will be charged in addition to or in place of the currently outgoing taxes. The competent authorities of the Parties shall notify each other of the essential changes that have been made regarding the tax laws and measures with a view to obtaining information subject to this agreement.
Article 4 Definitions
1. Unless otherwise stated, for the purposes of this agreement the following expressions the following meaning:
a) "Sweden" means the Kingdom of Sweden and the includes, when the expression is used in the geographic significance, Sweden's territory, territorial waters of Sweden and other maritime areas over which Sweden, in accordance with international law, exercises sovereign rights or jurisdiction;
b) "Bermuda" refers to Bermuda,
c) "requesting party" means the party requesting or receiving information from the requested Party;
d) "collective investment fund or collective investment scheme" means any undertaking for collective investment irrespective of their legal form. The expression "public collective investment fund or public collective investment scheme" means any collective investment fund or collective investment schemes whose shares, shares, or other rights may freely be purchased, sold or redeemed by the general public. Participating interests, shares, or other rights in the Fund or scheme can be freely bought, sold, or redeemed "by the public" about the purchase, sale or redemption do not implicitly or explicitly restricted to a limited group of investors;
e) "company" means any legal person or any other that for tax purposes is treated as a legal person,
f) "competent authority" means in the case of Sweden, the Minister of finance or his authorised representative or the authority which has been assigned to be a competent authority for the purposes of this agreement and, in the case of Bermuda, the Minister of finance or his authorised representative,
g) "party" means Sweden or Bermuda, depending on the context,
h) "information" means any fact, statement, or Protocol, regardless of the form,
I) "measures with a view to obtaining information" means laws and administrative or judicial measures which allow for a party to obtain and provide the information requested,
j) "national" means:
1) natural person who holds the nationality of a party, or
2) legal person or association that is governed by the laws of a party,
k) "person" includes a natural person, company or other association,
l) "principal class of shares" means the shares that represent the majority of the votes in, and the value of the company,
m) "companies whose shares are the object of general circulation" means a company whose principal class of shares is listed on a recognised stock exchange provided its listed shares can be bought or sold by the public. Shares can be bought or sold "by the public" about the purchase or sale of shares is not implicitly or explicitly restricted to
a distinct circle of investors,
n) "recognised stock exchange" means the competent authorities of the parties, such as the stock exchange agreed,
o) "requested Party" means the party is requested to provide information,
p) "resident" means:
1) in the case of Sweden, the person under the legislation of Sweden is taxable there because of domicile, residence, place of management or any other similar circumstance, even including the Swedish State, its public-sector bodies or institutions, political subdivisions or local authorities; the expression "person" does not include a person who is liable to tax in Sweden only for income source in Sweden, and 2) in the case of Bermuda, the natural person who is a permanent resident ("ordinarily resident") in Bermuda, as well as company, partnership, trust, or association incorporated under the laws of Bermuda,
q) "serious fraud" refers to that with dishonest intent to deceive the public, evade or attempt to evade a tax liability in cases when an active Act or omission constituted such an evasion or attempted evasion. The tax liability must be a significant amount, either in absolute terms or in relation to the total tax liability in a given year.
The procedure must involve the systematic attempt to take or actually take actions intended to or tend to hide the essential facts of the tax authority of either party or to provide them with false information or forgeries or trying to hide someone's identity. The competent authorities shall agree on the scope of what is covered by this definition;
r) "tax" means any tax covered by this agreement.
2. The term "relevant" shall, when used in the agreement with regard to information, of course, in such a way as to ensure that the information is deemed to be relevant even though no final position for information relevant to an ongoing investigation can be made only after the information is received.
(3) where a party applies this agreement at any time is deemed, unless the context otherwise raises, each expression that is not defined in the agreement have the same meaning as the expression has at that time under the laws of that party and the importance of the term has under the applicable tax laws of that party take precedence over the significance of the expression have under other legislation of that party.
Article 5
Exchange of information on request
1. the competent authority of the requested Party shall, upon request, provide information for the purposes set out in article 1. Such information shall be exchanged without regard to whether the conduct which is the subject of an investigation would have constituted an offence under the law of the requested party if such conduct carried out in the requested Party.
2. where the information available to the competent authority of the requested Party is not sufficient to respond to a request for information, the requested Party shall – notwithstanding that the requested Party may not need the information for its own tax purposes – use all the relevant measures in order to obtain the information to the requesting party.
3. If the competent authority of the requesting party specifically requests it, the competent authority of the requested party – to the extent that this is permitted under its domestic law to provide information under this article in the form of admission of the witness reports and certified copies of documents.
4. Each Party shall ensure that its competent authority, for the application of this agreement, have the power to collect and submit:
a) information held by banks, other financial institutions and other persons, including agents and trustees acting as representative or trustee,
b) information on the ownership of companies, partnerships and other entities, including – with the limits imposed by article 2 – disclosure of ownership in respect of all such persons in an ownership chain; in the case of trusts, information on founders, trustees and beneficiaries, and the trust's placement in an ownership chain; in the case of trusts, information on founders, members of the Board and destinatärer, as well as the Foundation's placement in an ownership chain.
5. this agreement does not entail an obligation for the parties to obtain or provide:
a) information on the ownership structure of companies whose shares are the object of general circulation or in public collective investment funds or public collective investment schemes, unless such information can be obtained without incurring disproportionate difficulties,
b) information relating to time more than six years before the tax year that is the subject of an investigation,
c) information in cases where the requesting party within its own territory has not taken all the measures at its disposal to acquire disclosures, unless the imposition of such measures would entail disproportionate difficulties,
d) information provided by a person other than the taxpayer holds or can obtain and which do not directly relate to the taxpayer.
6. When the requesting party requests information relating to matters that do not relate to a serious tax evasion, an official of its competent authority certifying that the request is relevant and necessary for the purpose of determining the taxpayer's tax liability under the law of the requesting party.
7. If information is requested that refers to a person who neither is a resident or national of any of the parties, it is for the competent authority of the requested party to satisfactorily prove that such information is necessary for the correct application and enforcement of the tax laws of the requesting party.
8. in case of request for information under this agreement, the competent authority of the requesting party to the competent authority of the requested Party shall provide the following information, in order to show that the information requested is relevant:
(a)) the identity of the taxpayer who is the subject of the investigation or inquiry,
b) reasons for believing that the information requested is held or may be obtained by the person within the jurisdiction of the requested Party;
c) as far as it is known, the name and address of the person who can be assumed to possess or be able to obtain the information requested,
d) indication that the application is in conformity with the laws and administrative practices of the requesting party, that information could be obtained by the requesting party in accordance with its legislation under similar circumstances, both within the context of the determination of its own tax claims and in response to a valid request from the requested Party pursuant to this agreement,
e) statement that the requesting party within its own territory has taken all the measures at its disposal in order to obtain the information, except those operations that would cause disproportionate hardship, and, so far as this is possible:
f) the nature of the information requested, including a detailed description of the evidence, information or other assistance requested and, if possible, in the form in which the requesting party would prefer to receive the information, g) the tax purpose for which the information is requested and why they are relevant in determining a taxpayer's tax liability under the law of the requesting party ,
h) stating that the taxpayer is a resident or national of any of the parties or that it is necessary to determine a taxpayer's tax liability under the law of the requesting party;
in) the time period for which the information is needed for taxation.
9. the competent authority of the requested Party shall supply the information requested as soon as possible to the requesting party. To meet an urgent response to the requested party:
a) to the competent authority of the requesting party in writing acknowledge receipt of the request within 60 days after receipt shall notify the competent authority of the requesting Party of any deficiencies in the request, and
b) if the competent authority of the requested Party has not been able to obtain and provide the information requested within 90 days of receipt of the request, including whether there is unable to provide the information or if it refuses to make the disclosures, it shall promptly inform the requesting party accordingly and indicate the reasons why it has not been possible to obtain and provide information , what are the obstacles that are present or the reasons for its refusal.
Article 6 tax examinations Abroad carried out
1. The requested Party may, to the extent that this is permitted under its domestic law to allow representatives of the competent authority of the requesting party to be present in the requested party to hear natural persons and review the documents after the written consent of the persons concerned. The competent authority of the
requesting Party shall notify the competent authority of the requested Party of the time and place of the meeting with interested individuals.
2. At the request of the competent authority of the requesting party, the competent authority of the requested Party allow representatives of the competent authority of the requesting party to the extent that this is appropriate to attend the tax investigation in the requested Party.
3. Awarded a request pursuant to paragraph 2, the competent authority of the requested Contracting Party performing the investigation as soon as possible inform the competent authority of the requesting Party of the time and place of the investigation, if the authority or the person authorized to conduct the investigation, as well as on the procedures and conditions as the requested Party has established for the conduct of the investigation.
All decisions regarding the conduct of the investigation shall be taken by the requested contracting party carrying out the investigation.
Article 7
The possibility to refuse a request 1. The competent authority of the requested Party may refuse a request if:
a) request has not been made in accordance with this agreement,
(b)) the provision of the information requested would be contrary to the General considerations,
(c)) the requesting party cannot acquire disclosures 1) under its legislation relating to the application or enforcement of their tax laws, or
2) in response to a valid request under this agreement from the requested Party.
2. the provisions of this Agreement shall not entail the obligation for a party to supply information which would disclose any trade, business, industrial or professional secret or of a commercial secret or used in the course of trade procedures. Notwithstanding this, the information referred to in article 5, paragraph 4, should not be treated as such a secret or such procedures only on the basis that they meet the conditions laid down in that paragraph.
3. the provisions of this Agreement shall not entail the obligation for a party to obtain or provide information that would reveal confidential communications between a client and his lawyer or other legal professional, when such communications:
(a)) is the communication between a professional legal adviser and his client in connection with legal advice,
(b)) provides communications between a professional legal adviser and his client, between a professional legal adviser acting on behalf of a client's account and any other person, or between the client and the other person in connection with a for the purposes of such proceedings; and pending or impending judicial proceeding in respect of this proceeding, as well as
c) contains the information annexed to or referred to in such communications and that is carried out
1) in connection with legal advice, or
2) in connection with a pending or impending judicial proceeding concerning this procedure, when this information is held by a person entitled to possession of them.
4. A request for information shall not be refused on the ground that the tax claim giving rise to the request is disputed.
5. the requested Party may refuse a request for information where the requesting party has requested information on the application or enforcement of a provision in the tax legislation of the requesting party, or the related requirements, under the same conditions discriminate against a national of the requested Party in relation to a national of the requesting party.
Article 8
Privacy
Information received by a party pursuant to this Agreement shall be kept secret and may only be disclosed to persons or authorities (including courts and administrative bodies) within that party's jurisdiction that establishes, or collect the taxes covered by the agreement or deal with prosecution or appeal in respect of those taxes, as well as for people whose job it is to deal with issues of disclosure and use of information. Such persons or authorities shall use such information only for such purposes. They may disclose the information in public court hearing or in judicial decisions.
Information may not be disclosed to any other person, agency or authority or any other jurisdiction without the express written consent of the competent authority of the requested Party.
Article 9 Rights
The rights of persons under the requested party remain applicable legislation or administrative practice. These rights may not be applied by the requested Party in such a way as to unduly prevent or delay an effective exchange of information.
Article 10
Costs
The distribution of the costs incurred for official assistance (including the reasonable costs for third parties and external advisors in connection with litigation or for other purposes), the competent authorities of the parties may agree.
Article 11
No targeted countermeasures
1. If a party has reason to assume that the other party has introduced targeted countermeasures designed to combat harmful tax competition and directed against persons with domicile or citizenship of the other party, the Parties shall immediately start negotiations to solve the issue.
2. a specific countermeasure designed to prevent harmful tax competition refers to a measure maintained by a party affecting persons with domicile or citizenship of one of the parties, and which is motivated by the other party does not contribute to an effective exchange of information or that this party shortcomings in transparency of its laws, regulations or administrative practice. The same applies if the other party does not charge any taxes or if only a symbolic tax is imposed and this is happening at the same time as any of the criteria mentioned above.
3. Without limiting the general meaning of the expression "targeted counter measures" include expression refusing deduction, tax credit, tax credit or exemption, to charge tax, fee or other charge, or to set specific requirements for documentation obligation. Such measures include any measure that directly or indirectly affect the taxation. However, they do not include general measures applied generally by a party in relation to, among other things, member countries of the OECD.
Article 12 procedure for mutual agreement 1. The parties ' competent authorities shall together seek to determine such difficulties and doubts arising concerning the interpretation and application of this agreement.
2. in addition to what is stated in paragraph 1, the competent authorities of the parties may mutually agree on the procedures for the application of articles 5 and 6.
3. for the purposes of this article, the competent authorities of the parties to enter into direct relations with each other.
Article 13
Date of entry into force
1. Each Party shall notify the other party if the measures taken pursuant to their respective legislation required that this agreement should enter into force.
2. the agreement shall enter into force on the thirtieth day after the date on which the last of these notifications is received and applied
(a)) in these cases, from the date of entry into force, but not earlier than 1 January 2010,
b) in all other matters covered in article 1, for the fiscal year that begins on 1 January of the year immediately following the date of entry into force of the contract or later, or when any tax year, tax claims which arise on 1 January of the year immediately following the date of entry into force of the contract or later, but not earlier than 1 January 2010.
Article 14
Termination
1. this Agreement shall remain in force until terminated by one party. Either party may terminate this agreement by written notification through diplomatic channels about this leave to the other party. In the event of such termination, the agreement ceases to have effect on the first day of the month immediately following the end of the period of six months following the date of the notification of denunciation was received by the other party.
2. In the event of termination, both parties remain bound by the provisions of article 8 in respect of information obtained by virtue of the agreement.
In witness whereof the undersigned, being duly authorised, have signed this agreement.
Done at Washington, on april 16, 2009 in duplicate in the English language.
For the Government of the Kingdom of Sweden
Jonas Hafström
For the Government of Bermuda
Paula Ann Cox
Protocol
PROTOCOL to the AGREEMENT BETWEEN the KINGDOM of SWEDEN and BERMUDA (UNDER the AUTHORITY of the UNITED KINGDOM OF GREAT BRITAIN and NORTHERN IRELAND) on the EXCHANGE of INFORMATION RELATING to TAXES
At the signing of the agreement on the exchange of information relating to taxes between the Kingdom of Sweden and Bermuda, the parties have agreed that the following provisions shall form an integral part of the agreement:
I. General
Bermuda Government shall take the necessary measures to repeal any provision in its domestic legislation requiring that information must be physically accessible in order to comply with the agreement. The Swedish Government, for its part, will make every effort to obtain information within its own territory, except those that would give rise to disproportionate difficulties.
II. Ad article 5
With regard to article 5, paragraphs 6, 7 and 8 h), the term "necessary" is not to be interpreted as meaning that the overall objectives set out in article 1 are limited. Confirmation of an officer is adequate to the conditions shall be considered fulfilled in those paragraphs.
In witness whereof the undersigned, being duly authorised, have signed this Protocol.
That took place in Washington on april 16, 2009 in duplicate in the English language.
For the Government of the Kingdom of Sweden
Jonas Hafström
For the Government of Bermuda
Paula Ann Cox
