Australian Tax Treaties

Isle of Man Agreement  

AGREEMENT BETWEEN THE GOVERNMENT OF AUSTRALIA AND THE GOVERNMENT OF THE ISLE OF MAN 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 3   Definitions  

1    
For the purposes of this Agreement, unless the context otherwise requires:

(a) the term " Australia " , when used in a geographical sense, excludes all external territories other than:

(i) the Territory of Norfolk Island;

(ii) the Territory of Christmas Island;

(iii) the Territory of Cocos (Keeling) Islands;

(iv) the Territory of Ashmore and Cartier Islands;

(v) the Territory of Heard Island and McDonald Islands; and

(vi) the Coral Sea Islands Territory,

and includes any area adjacent to the territorial limits of Australia (including the Territories specified in this subparagraph) in respect of which there is for the time being in force, consistently with international law, a law of Australia dealing with the exploration for or exploitation of any of the natural resources of the seabed and subsoil of the continental shelf;

(b) the term " competent authority " means, in the case of Australia, the Commissioner of Taxation or an authorised representative of the Commissioner and, in the case of the Isle of Man, the Assessor of Income Tax or an authorised delegate;

(c) the term " Isle of Man " means the island of the Isle of Man;

(d) the term " Party " means Australia or Isle of Man, as the context requires;

(e) the term " national " , in relation to a Party, means any individual possessing the nationality or citizenship of that Party;

(f) the term " person " includes an individual, a company and any other body of persons;

(g) the term " tax " means Australian tax or Manx tax, as the context requires; and

(h) the term " transfer pricing adjustment " means an adjustment made by the competent authority of a Party to the profits of an enterprise as a result of applying the domestic law concerning taxes referred to in Article 2 of that Party regarding transfer pricing.

2    
As regards the application of this Agreement at any time by a Party, any term not defined therein shall, unless the context otherwise requires, have the meaning that it has at that time under the law of that Party, for the purposes of the taxes to which this Agreement applies, with any meaning under the applicable tax laws of that Party prevailing over a meaning given to the term under other laws of that Party.