Australian Tax Treaties
The Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (the MLI) has modified the application of this tax treaty. A synthesised text of the MLI and this tax treaty is available to facilitate the understanding of how the MLI modifies this tax treaty.
The benefits of this Agreement shall not apply to income or profits arising from:
(a) activities such as banking, shipping, financing or insurance, and Internet activities; or
(b) activities such as headquarter or coordination centre or similar arrangements providing company or group administration, financing or other support; or
(c) activities which give rise to passive income, such as dividends, interest and royalties; or
(d) other activities the performance of which do not require substantial presence in the State of source,
where, under the laws or administrative practices of a Contracting State, such income or profits are preferentially taxed and, in relation thereto, information is accorded confidential treatment beyond the usual or general protection of information accorded for tax purposes under the laws or administrative practices of that State.
2
For the purposes of paragraph 1, income or profits are preferentially taxed in a Contracting State if, other than by reason of the preceding Articles of this Agreement, an amount of income or profits:
(a) is exempt from tax; or
(b) is included in taxable income of a taxpayer but that amount is subject to a rate of tax that is lower than the rate applicable to an equivalent amount that is included in the tax base of similar taxpayers who are residents of that State; or
(c) a credit, rebate or other concession or benefit is provided directly or indirectly in relation to that income or profits, other than a credit for foreign tax paid.
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