LegalizeResolução da Assembleia da República n.º 28/2006 — Aprova a Convenção entre a República Portuguesa e a República do Chile para Evitar a Dupla Tributação e Prevenir a…
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Aprova a Convenção entre a República Portuguesa e a República do Chile para Evitar a Dupla Tributação e Prevenir a Evasão Fiscal em Matéria de Impostos sobre o Rendimento
4 - The provisions of paragraphs 1 and 2 shall not apply if the beneficial owner of the interest, being a resident of a Contracting State, carries on business in the other Contracting State in which the interest arises, through a permanent establishment situated therein, or performs in that other State independent personal services from a fixed base situated therein, and the debt claim in respect of which the interest is paid is effectively connected with such permanent establishment or fixed base. In such case the provisions of article 7 («Business profits») or article 14 («Independent personal services»), as the case may be, shall apply.
5 - Interest shall be deemed to arise in a Contracting State when the payer is a resident of that State. Where, however, the person paying the interest, whether a resident of a Contracting State or not, has in a Contracting State a permanent establishment or a fixed base in connection with which the indebtedness on which the interest is paid was incurred, and such interest is borne by such permanent establishment or fixed base, then such interest shall be deemed to arise in the State in which the permanent establishment or fixed base is situated.
6 - Where there is a special relationship between the payer and the beneficial owner or between both of them and some other person and the amount of the interest exceeds, for whatever reason, the amount which would have been agreed upon by the payer and the beneficial owner in the absence of such relationship, the provisions of this article shall apply only to the last-mentioned amount. In such case, the excess part of the payments shall remain taxable according to the laws of each Contracting State, due regard being had to the other provisions of this Convention.
Article 12
Royalties
1 - Royalties arising in a Contracting State and paid to a resident of the other Contracting State may be taxed in that other State.
2 - However, such royalties may also be taxed in the Contracting State in which they arise and according to the laws of that State, but if the beneficial owner of the royalties is a resident of the other Contracting State, the tax so charged shall not exceed:
5% of the gross amount of the royalties for the use of, or the right to use, any industrial, commercial or scientific equipment;
10% of the gross amount of the royalties, in all other cases.
The competent authorities of the Contracting States shall by mutual agreement settle the model of application of these limitations.
3 - The term «royalties» as used in this article means payments of any kind received as a consideration for the use of, or the right to use, any copyright of literary, artistic or scientific work, including cinematographic films or films, tapes and other means of image or sound reproduction, patent, trade mark, design or model, plan, secret formula or process or other intangible property, or for the use of, or the right to use, industrial, commercial or scientific equipment, or for information concerning industrial, commercial or scientific experience.
4 - The provisions of paragraphs 1 and 2 shall not apply if the beneficial owner of the royalties, being a resident of a Contracting State, carries on business in the other Contracting State in which the royalties arise, through a permanent establishment situated therein, or performs in that other State independent personal services from a fixed base situated therein, and the right or property in respect of which the royalties are paid is effectively connected with such permanent establishment or fixed base. In such case the provisions of article 7 («Business profits») or article 14 («Independent personal services»), as the case may be, shall apply.
5 - Royalties shall be deemed to arise in a Contracting State when the payer is a resident of that State. Where, however, the person paying the royalties, whether a resident of a Contracting State or not, has in a Contracting State a permanent establishment or a fixed base in connection with which the obligation to pay the royalties was incurred, and such royalties are borne by such permanent establishment or fixed base, then such royalties shall be deemed to arise in the State in which the permanent establishment or fixed base is situated.
6 - Where, by reason of a special relationship between the payer and the beneficial owner or between both of them and some other person, the amount of the royalties having regard to the use, right or information for which they are paid, exceeds the amount which would have been agreed upon by the payer and the beneficial owner in the absence of such relationship, the provisions of this article shall apply only to the last-mentioned amount. In such case, the excess part of the payments shall remain taxable according to the laws of each Contracting State, due regard being had to the other provisions of this Convention.
Article 13
Capital gains
1 - Gains derived by a resident of a Contracting State from the alienation of immovable property situated in the other Contracting State may be taxed in that other State.
2 - Gains from the alienation of movable property forming part of the business property of a permanent establishment which an enterprise of a Contracting State has in the other Contracting State or of movable property pertaining to a fixed base available to a resident of a Contracting State in the other Contracting State for the purpose of performing independent personal services, including such gains from the alienation of such a permanent establishment (alone or with the whole enterprise) or of such a fixed base, may be taxed in that other State.
3 - Gains from the alienation of ships or aircraft operated in international traffic or from movable property pertaining to the operation of such ships or aircraft shall be taxable only in the Contracting State of which the alienator is a resident.
4 - Gains derived by a resident of a Contracting State, from the alienation of shares or other rights representing the capital of a company that is a resident of the other Contracting State, may be taxed in the other Contracting State if:
The gains derive more than 50% of their value directly or indirectly from immovable property situated in that other Contracting State; or
The alienator at any time during the twelve month period preceding such alienation owned, directly or indirectly, shares or other rights representing 20% or more of the capital of that company.
Any other gains derived by a resident of Contracting State from the alienation of shares or other rights representing the capital of a company that is a resident of the other Contracting State may also be taxed in that other Contracting State but the tax so charged shall not exceed 16% of the amount of the gain.
Notwithstanding any other provision of this paragraph, gains derived by a pension fund that is a resident of a Contracting State from the alienation of shares or other rights representing the capital of a company that is a resident of the other Contracting State shall be taxable only in the first-mentioned Contracting State.
5 - Gains from the alienation of any property other than that referred to in the preceding paragraphs shall be taxable only in the Contracting State of which the alienator is a resident.
Article 14
Independent personal services
1 - Income derived by an individual who is a resident of a Contracting State in respect of professional services or other activities of an independent character shall be taxable only in that Contracting State. However, such income may also be taxed in the other Contracting State:
If he has a fixed base regularly available to him in the other Contracting State for purpose of performing the activities; in that case, only so much of the income as is attributable to that fixed base may be taxed in that other State; or
If he is present in the other Contracting State for a period or periods amounting to or exceeding in the aggregate 183 days in any twelve month period commencing or ending in the fiscal year concerned; in that case, only so much of the income as is derived from the activities performed in that other State may be taxed in that State.
2 - The term «professional services» includes especially independent scientific, literary, artistic, educational or teaching activities as well as the independent activities of physicians, lawyers, engineers, architects, dentists and accountants.
Article 15
Dependent personal services
1 - Subject to the provisions of articles 16 («Directors' fees»), 18 («Pensions») and 19 («Government service»), salaries, wages and other remuneration derived by a resident of a Contracting State in respect of an employment shall be taxable only in that State unless the employment is exercised in the other Contracting State. If the employment is so exercised, such remuneration as is derived therefrom may be taxed in that other State.
2 - Notwithstanding the provisions of paragraph 1, remuneration derived by a resident of a Contracting State in respect of an employment exercised in the other Contracting State shall be taxable only in the first mentioned State if:
The recipient is present in the other State for a period or periods not exceeding in the aggregate 183 days in any twelve month period commencing or ending in the fiscal year concerned; and
The remuneration is paid by, or on behalf of, a person being an employer who is not a resident of the other State; and
The remuneration is not borne by a permanent establishment or a fixed base that the person being an employer has in the other State.
3 - Notwithstanding the preceding provisions of this article, remuneration derived in respect of an employment exercised aboard a ship or aircraft operated in international traffic by an enterprise of a Contracting State may be taxed by that State.
Article 16
Directors' fees
Directors' fees and other similar payments derived by a resident of a Contracting State in his capacity as a member of the board of directors or supervisory board or of another similar organ of a company which is a resident of the other Contracting State may be taxed in that other State.
Article 17
Artistes and sportsmen
1 - Notwithstanding the provisions of articles 14 («Independent personal services») and 15 («Dependent personal services»), income derived by a resident of a Contracting State as an entertainer, such as a theatre, motion picture, radio or television artiste, or a musician, or as a sportsman, from his personal activities as such exercised in the other Contracting State may be taxed in that other State.
2 - Notwithstanding the provisions of articles 7 («Business profits»), 14 («Independent personal services») and 15 («Dependent personal services»), where income in respect of personal activities exercised by an entertainer or a sportsman in his capacity as such accrues not to the entertainer or sportsman himself but to another person, that income may be taxed in the Contracting State in which the activities of the entertainer or sportsman are exercised.
Article 18
Pensions
1 - Pensions arising in a Contracting State and paid to a resident of the other Contracting State shall be taxable only in that other State.
2 - Alimony and other maintenance payments paid to a resident of a Contracting State shall be taxable only in that State. However, any alimony or other maintenance payments paid by a resident of a Contracting State to a resident of the other Contracting State, shall, to the extent it is not allowable as a relief to the payer, be taxable only in the first-mentioned State.
Article 19
Government service
1 - a) Salaries, wages and other remuneration, other than a pension, paid by a Contracting State or a political subdivision or a local authority thereof to an individual in respect of services rendered to that State or subdivision or authority shall be taxable only in that State.
However, such salaries, wages and other remuneration shall be taxable only in the other Contracting State if the services are rendered in that State and the individual is a resident of that State who:
Is a national of that State; or
ii) Did not become a resident of that State solely for the purpose of rendering the services.
2 - The provisions of articles 15 («Dependent personal services»), 16 («Directors' fees») and 17 («Artistes and sportsmen») shall apply to salaries, wages and other remuneration, in respect of services rendered in connection with a business carried on by a Contracting State or a political or administrative subdivision or a local authority thereof.
Article 20
Students
Payments which a student, apprentice or business trainee who is, or was immediately before visiting a Contracting State, a resident of the other Contracting State and who is present in the first mentioned State solely for the purpose of his education or training receives for the purpose of his maintenance, education or training shall not be taxed in that State, provided that such payments arise from sources outside that State.
Article 21
Other income
1 - Items of income of a resident of a Contracting State, wherever arising, not dealt with in the foregoing articles of this Convention shall be taxable only in that State.
2 - The provisions of paragraph 1 shall not apply to income, other than income from immovable property as defined in paragraph 2 of article 6 («Income from immovable property»), if the recipient of such income, being a resident of a Contracting State, carries on business in the other Contracting State through a permanent establishment situated therein or performs in that other State independent personal services from a fixed base situated therein, and the right or property in respect of which the income is paid is effectively connected with such permanent establishment or fixed base. In such case, the provisions of article 7 («Business profits») or article 14 («Independent personal services»), as the case may be, shall apply.
3 - Notwithstanding the provisions of paragraphs 1 and 2, items of income of a resident of a Contracting State not dealt with in the foregoing articles of the Convention and arising in the other Contracting State may also be taxed in that other State.
CHAPTER IV
Elimination of double taxation
Article 22
Elimination of double taxation
1 - In the case of Portugal, double taxation shall be avoided as follows:
Where a resident of Portugal derives income which, in accordance with the provisions of this Convention, may be taxed in Chile, Portugal shall allow as a deduction from the tax on the income of that resident an amount equal to the tax paid in Chile (excluding, in the case of dividends, tax payable in Chile in respect of the profits out of which the dividends are paid). Such deduction shall not, however, exceed that part of the income tax as computed before the deduction is given, which is attributable to the income which may be taxed in Chile;
Where in accordance with any provisions of this Convention income derived by a resident of Portugal is exempt from tax in this State, Portugal may nevertheless, in calculating the amount of tax on the remaining income of such resident, take into account the exempted income;
Notwithstanding the provision of subparagraph a), where a company which is a resident of Portugal receives dividends from a company which is a resident of Chile and which is subject and not exempt from business profits tax (first category tax) in Chile, Portugal shall allow a deduction for such dividends included in the tax base of the company receiving dividends, provided that the latter company holds directly at least 25% of the capital of the company paying the dividends and that participation was held continuously for the preceding two years, or from the date the company paying the dividends was constituted if that occurred later, but in this case only if the participation is held continuously throughout the same period.
2 - In the case of Chile, double taxation shall be avoided as follows:
Residents in Chile, obtaining income which has, in accordance with the provisions of this Convention, been subject to taxation in Portugal, may credit the tax so paid against any Chilean tax payable in respect of the same income, subject to the applicable provisions of the law of Chile. This paragraph shall apply to all income referred to in this Convention;
Where, in accordance with any provision of the Convention, income derived by a resident of Chile is exempt from tax in Chile, Chile may nevertheless, in calculating the amount of tax on other income, take into account the exempted income.
CHAPTER V
Special provisions
Article 23
Non-discrimination
1 - Nationals of a Contracting State shall not be subjected in the other Contracting State to any taxation or any requirement connected therewith, which is other or more burdensome than the taxation and connected requirements to which nationals of that other State in the same circumstances, in particular with respect to residence, are or may be subjected. This provision shall, notwithstanding the provisions of article 1 («Persons covered»), also apply to individuals who are not residents of one or both of the Contracting States.
2 - The taxation on a permanent establishment which an enterprise of a Contracting State has in the other Contracting State shall not be less favourably levied in that other State than the taxation levied on enterprises of that other State carrying on the same activities.
3 - Nothing in this article shall be construed as obliging a Contracting State to grant to residents of the other Contracting State any personal allowances, reliefs and reductions for taxation purposes on account of civil status or family responsibilities that it grants to its own residents.
4 - Except where the provisions of paragraph 1 of article 9 («Associated enterprises»), paragraph 6 of article 11 («Interest»), or paragraph 6 of article 12 («Royalties»), apply, interest, royalties and other disbursements paid by an enterprise of a Contracting State to a resident of the other Contracting State shall, for the purpose of determining the taxable profits of such enterprise, be deductible under the same conditions as if they had been paid to a resident of the first-mentioned State.
5 - Companies which are residents of a Contracting State, the capital of which is wholly or partly owned or controlled, directly or indirectly, by one or more residents of the other Contracting State, shall not be subjected in the first-mentioned State to any taxation or any requirement connected therewith which is other or more burdensome than the taxation and connected requirements to which other similar companies of the first-mentioned State are or may be subjected.
6 - In this article, the term «taxation» means taxes that are the subject of this Convention.
Article 24
Mutual agreement procedure
1 - Where a person considers that the actions of one or both of the Contracting States result or will result for him in taxation not in accordance with the provisions of this Convention, he may, irrespective of the remedies provided by the domestic law of those States, present his case to the competent authority of the Contracting State of which he is a resident or, if his case comes under paragraph 1 of article 23 («Non-discrimination»), to that of the Contracting State of which he is a national. The case must be presented within three years from the first notification of the action resulting in taxation not in accordance with the provisions of the Convention.
2 - The competent authority shall endeavour, if the objection appears to it to be justified and if it is not itself able to arrive at a satisfactory solution, to resolve the case by a mutual agreement procedure with the competent authority of the other Contracting State, with a view to the avoidance of taxation which is not in accordance with the Convention.
3 - The competent authorities of the Contracting States shall endeavour to resolve by mutual agreement procedure any difficulties or doubts arising as to the interpretation or application of the Convention.
4 - Considering that the main aim of the Convention is to avoid international double taxation, the Contracting States agree that, in the event the provisions of the Convention are used in such a manner as to provide benefits not contemplated or not intended, the competent authorities of the Contracting States shall, under the mutual agreement procedure, recommend specific amendments to be made to the Convention. The Contracting States further agree that any such recommendation will be considered and discussed in an expeditious manner with a view to amending the Convention, where necessary.
5 - The competent authorities of the Contracting States may communicate with each other directly for the purpose of reaching an agreement in the sense of the preceding paragraphs.
Article 25
Exchange of information
1 - The competent authorities of the Contracting States shall exchange such information as is necessary for carrying out the provisions of this Convention or of the domestic laws in the Contracting States concerning taxes covered by the Convention insofar as the taxation thereunder is not contrary to the Convention. The exchange of information is not restricted by article 1 («Persons covered»). Any information received by a Contracting State shall be treated as secret in the same manner as information obtained under the domestic laws of that State and shall be disclosed only to persons or authorities (including courts and administrative bodies) concerned with the assessment or collection of, the enforcement or prosecution in respect of, or the determination of appeals in relation to, the taxes imposed by that State. Such persons or authorities shall use the information only for such purposes. They may disclose the information in public court proceedings or in judicial decisions.
2 - In no case shall the provisions of paragraph 1 be construed so as to impose on a Contracting State the obligation:
To carry out administrative measures at variance with the laws and the administrative practice of that or of the other Contracting State;
To supply information which is not obtainable under the laws or in the normal course of the administration of that or of the other Contracting State;
To supply information which would disclose any trade, business, industrial, commercial or professional secret or trade process, or information, the disclosure of which would be contrary to public policy («ordre public»).
3 - If information is requested by a Contracting State in accordance with this article, the other Contracting State shall obtain the information to which the request relates in the same way as if its own taxation were involved even though the other State does not, at that time, need such information.
Article 26
Members of diplomatic missions and consular posts
Nothing in this Convention shall affect the fiscal privileges of members of diplomatic missions or consular posts under the general rules of international law or under the provisions of special agreements.
Article 27
Miscellaneous rules
1 - With respect to pooled investment accounts or funds (as for instance the existing Foreign Capital Investment Fund, Law no. 18657), that are subject to a remittance tax and are required to be administered by a resident in Chile, the provisions of this Convention shall not be interpreted to restrict imposition by Chile of the tax on remittances from such accounts or funds in respect of investment in assets situated in Chile.
2 - For the purposes of paragraph 3 of article XXII («Consultation») of the General Agreement on Trade in Services, the Contracting States agree that, notwithstanding that paragraph, any dispute between them as to whether a measure falls within the scope of this Convention may be brought before the Council for Trade in Services, as provided by that paragraph, only with the consent of both Contracting States. Any doubt as to the interpretation of this paragraph shall be resolved under paragraph 3 of article 24 («Mutual agreement procedure») or, failing agreement under that procedure, pursuant to any other procedure agreed to by both Contracting States.
3 - Nothing in this Convention shall affect the application of the existing provisions of the Chilean legislation DL 600 (Foreign Investment Statute) as they are in force at the time of signature of this Convention and as they may be amended from time to time without changing the general principle thereof.
4 - Contributions in a year in respect of services rendered in that year paid by, or on behalf of, an individual who is a resident of a Contracting State or who is temporarily present in that State to a pension plan that is recognised for tax purposes in the other Contracting State shall, during a period not exceeding in the aggregate 60 months, be treated in the same way for tax purposes in the first-mentioned State as a contribution paid to a pension plan that is recognised for tax purposes in that first-mentioned State, if:
Such individual was contributing on a regular basis to the pension plan for a period ending immediately before that individual became a resident of or temporarily present in the firstmentioned State; and
The competent authority of the first-mentioned State agrees that the pension plan generally corresponds to a pension plan recognised for tax purposes by that State.
For the purposes of this paragraph, «pension plan» includes a pension plan created under the social security system in a Contracting State.
5 - Nothing in this Convention shall affect the taxation in Chile of a resident in Portugal in respect of profits attributable to a permanent establishment situated in Chile, under both the first category tax and the additional tax but only as long as the first category tax is deductible in computing the additional tax.
CHAPTER VI
Final provisions
Article 28
Entry into force
1 - Each of the Contracting States shall notify the other in writing through the diplomatic channels of the completion of the procedures required by law for the bringing into force of this Convention. This Convention shall enter into force on the date of the later of these notifications.
2 - The provisions of this Convention shall have effect:
In Portugal:
In respect of taxes withheld at source, the fact giving rise to them appearing on or after the 1st day of January of the calendar year next following the year in which this Convention enters into force;
ii) In respect of other taxes, as to income arising in any fiscal year beginning on or after the 1st day of January of the calendar year next following the year in which this Convention enters into force; and
In Chile - in respect of taxes on income obtained and amounts paid, credited to an account, put at the disposal or accounted as an expense, on or after the 1st day of January in the calendar year next following that in which this Convention enters into force.
Article 29
Termination
1 - This Convention shall continue in effect indefinitely but either Contracting State may, on or before the 30th day of June of any calendar year beginning after the expiration of a period of five years from the date of its entry into force, give to the other Contracting State a notice of termination in writing through diplomatic channels.
2 - The provisions of this Convention shall cease to have effect:
In Portugal:
In respect of taxes withheld at source, the fact giving rise to them appearing on or after the 1st day of January of the calendar year next following that specified in the said notice of termination;
ii) In respect of other taxes, as to income arising in the fiscal year beginning on or after the 1st day of January of the calendar year next following that specified in the said notice of termination; and
In Chile - in respect of taxes on income obtained and amounts paid, credited to an account, put at the disposal or accounted as an expense, on or after the 1st day of January in the calendar year next following that specified in the said notice of termination.
In witness whereof the signatories, duly authorised to that effect, have signed this Convention.
Done at Santiago, this 7th day of July of 2005, in duplicate in the Portuguese, Spanish and English languages, all texts being equally authentic. In case of any divergence of interpretation of this Convention, the English text shall prevail.
For the Portuguese Republic:
João Gomes Cravinho, Secretary of State for Foreign Affairs and Cooperation.
For the Republic of Chile:
Nicolás Eyzaguirre Guzmán, Minister of Finance.
Protocol to the Convention between the Portuguese Republic and the Republic of Chile for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income.
On signing the Convention for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income between the Republic of Chile and the Portuguese Republic the signatories have agreed that the following provisions shall form an integral part of the Convention.
1 - Ad. article 2 («Taxes covered»). - It is agreed that if, after the date on which the Convention enters into force, either Contracting State introduces a tax on capital under its domestic law, the Contracting States will enter into negotiations with a view to concluding a Protocol to amend the Convention by extending its scope to include any tax on capital so introduced. The terms of any such Protocol shall have regard to any arrangements between either Contracting State and a third State for the relief of double taxation on capital.
2 - Ad. article 7 («Business profits»), paragraph 3. - It is understood that the provisions of paragraph 3 of article 7 («Business profits») shall apply only if the expenses can be attributed to the permanent establishment in accordance with the provisions of the tax legislation of the Contracting State in which the permanent establishment is situated.
3 - Ad. article 10 («Dividends»), paragraph 2. - It is agreed that, in relation to the application of the additional tax under the laws of Chile, should:
The first category tax cease to be fully creditable in computing the amount of additional tax to be paid; or
ii) The rate of additional tax imposed with respect to residents of Portugal, as determined under the provisions of article 4 («Resident») of this Convention, exceed 42%;
the Contracting States shall consult with each other with a view to amending the Convention to re-establish the balance of benefits under the Convention.
4 - Ad. article 10 («Dividends»), paragraph 3. - It is understood that the term «other rights» includes an arrangement for participation in profits.
5 - Ad. article 11 («Interest»), paragraph 2, subparagraph b). - It is agreed that, when Portugal applies a rate of 5% according to article 6 of the EU Council Directive no. 2003/49/CE, such lower rate shall automatically apply with regard to article 11, paragraph 2, subparagraph b), for interest arising in Chile and beneficially owned by a resident of Portugal and interest arising in Portugal and beneficially owned by a resident of Chile, under the same conditions as if such lower rate had been specified in that sub-paragraph.
The competent authority of Portugal shall inform the competent authority of Chile without delay that the conditions for the application of this paragraph have been met.
6 - Ad. articles 10 («Dividends»), 11 («Interest») and 12 («Royalties»). - The provisions of articles 10 («Dividends»), 11 («Interest») and 12 («Royalties») shall not apply if it was the main purpose or one of the main purposes of any person concerned with the creation or assignment of a right or debt-claim in respect of which dividends, interest or royalties are paid to take advantage of those articles by means of that creation or assignment.
7 - Ad. article 13 («Capital gains»). - In the case of an alienator referred to in paragraph 4, sub-paragraph b), of article 13 («Capital gains»), which has owned the alienated shares or other rights for a period of more than twelve months and is not in the business of habitually selling and buying shares, the tax charged shall not exceed 16% of the amount of the gain.
In any case, the alienator is not considered in the business of habitually selling and buying shares when the participation in the capital of the company is more than 50%.
8 - Ad. article 18 («Pensions»). - It is understood that the term «pensions» includes any payments made to a scheme or beneficiary in accordance with the rules of a scheme that is recognized for tax purposes as a pension scheme by the Contracting State in which the payments arise.
9 - Ad. article 22 («Elimination of double taxation»). - i) It is agreed that the information contained in the forms of the Chilean Circular 17 of 2004 and in the «Certificado de residência fiscal» used by the portuguese competent authority, as they are in force at the time of signature of this Convention, is sufficient in order to apply the provisions of the Convention.
ii) Any amendment or change of the mode of application as agreed above shall be settled by mutual agreement by the competent authorities.
10 - Ad. article 23 («Non-discrimination»). - It is understood that the provisions of paragraph 4 of article 23 («Non-discrimination») shall not be interpreted so as to prevent the application by a Contracting State of the thin capitalization provisions provided for in its domestic law, except in those cases in which the associated enterprises can prove that due to the special characteristics of their activities or their specific economic circumstances, the conditions made or imposed between these enterprises are in conformity with the arm's length principle.
11 - Ad. article 24 («Mutual agreement procedure»), paragraph 2. - In the case of Portugal any agreement reached shall be implemented notwithstanding any time limits in its domestic law.
In witness whereof the signatories, duly authorised to that effect, have signed this Protocol.
Done at Santiago, this 7th day of July of 2005, in duplicate in the Portuguese, Spanish and English languages, all texts being equally authentic. In case of any divergence of interpretation of this Protocol, the English text shall prevail.
For the Portuguese Republic:
João Gomes Cravinho, Secretary of State for Foreign Affairs and Cooperation.
For the Republic of Chile:
Nicolás Eyzaguirre Guzmán, Minister of Finance.
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