Australian Tax Treaties

Guernsey Agreement  

AGREEMENT BETWEEN THE GOVERNMENT OF AUSTRALIA AND THE STATES OF GUERNSEY FOR THE ALLOCATION OF TAXING RIGHTS WITH RESPECT TO CERTAIN INCOME OF INDIVIDUALS AND TO ESTABLISH A MUTUAL AGREEMENT PROCEDURE IN RESPECT OF TRANSFER PRICING ADJUSTMENTS  

ARTICLE 2   Taxes Covered  

1.    
The existing taxes to which this Agreement shall apply are:

(a) in the case of Australia, the income tax imposed under the federal law of Australia;
(hereinafter referred to as " Australian tax " );

(b) in the case of Guernsey:

(i) income tax;

(ii) dwellings profits tax;
(hereinafter referred to as " Guernsey tax " ).

2.    
This Agreement shall also apply to any identical or substantially similar taxes which are 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 within a reasonable period of time of any substantial changes to the taxation laws covered by this Agreement.

3.    
This Agreement shall not apply to taxes imposed by states, municipalities, local authorities or other political subdivisions, or possessions of a Party.