Resolução da Assembleia da República n.º 95/2014 — Aprova a Convenção entre a República Portuguesa e a República de São Marino para Evitar a Dupla Tributação e Prevenir a…

TITOLO V

Disposizioni speciali

Articolo 24

Non discriminazione

1 - I nazionali di uno Stato Contraente non sono assoggettati nell'altro Stato Contraente ad alcuna imposizione od obbligo ad essa relativo, diversi o più onerosi di quelli cui sono o potranno essere assoggettati i nazionali di detto altro Stato che si trovino nella stessa situazione, in particolare con riguardo alla residenza. Tale disposizione si applica altresì, nonostante le disposizioni dell'articolo 1, alle persone che non sono residenti di uno o di entrambi gli Stati Contraenti.

2 - L'imposizione di una stabile organizzazione che una impresa di uno Stato Contraente ha nell'altro Stato Contraente non può essere in questo altro Stato meno favorevole dell'imposizione a carico delle imprese di detto altro Stato che svolgono la medesima attività. La presente disposizione non può essere interpretata nel senso che faccia obbligo ad uno Stato Contraente di accordare ai residenti dell'altro Stato Contraente le deduzioni personali, le esenzioni e le riduzioni di imposta che esso accorda ai propri residenti in relazione alla loro situazione o ai loro carichi di famiglia.

3 - Fatta salva l'applicazione delle disposizioni del paragrafo 1 dell'articolo 9, paragrafo 6 dell'articolo 11 o paragrafo 6 dell'articolo 12, gli interessi, i canoni ed altre spese pagate da un'impresa di uno Stato Contraente ad un residente dell'altro Stato sono deducibili, ai fini della determinazione degli utili imponibili di detta impresa, nelle stesse condizioni in cui sarebbero stati pagati ad un residente del primo Stato.

4 - Le imprese di uno Stato Contraente, il cui capitale è in tutto o in parte, direttamente o indirettamente, posseduto o controllato da uno o più residenti dell'altro Stato Contraente, non sono assoggettate nel primo Stato ad alcuna imposizione od obbligo ad essa relativo, diversi o più onerosi di quelli cui sono o potranno essere assoggettate altre imprese analoghe del primo Stato.

5 - Le disposizioni del presente articolo, nonostante quanto stabilito dall'articolo 2, si applicano alle imposte di ogni genere e denominazione.

Articolo 25

Procedura amichevole

1 - Quando una persona ritiene che le misure adottate da uno o da entrambi gli Stati Contraenti comportano o comporteranno per essa un'imposizione non conforme alle disposizioni della presente Convenzione, essa può, indipendentemente dai ricorsi previsti dalla legislazione nazionale di detti Stati, sottoporre il proprio caso all'autorità competente dello Stato di cui è residente o, se il suo caso ricade nel paragrafo 1 dell'articolo 24, a quella dello Stato Contraente di cui possiede la nazionalità. Il caso deve essere sottoposto entro i tre anni che seguono la prima notifica della misura che comporta un'imposizione non conforme alle disposizioni della presente Convenzione.

2 - L'autorità competente, se il ricorso le appare fondato e se essa non è in grado di giungere ad una soluzione soddisfacente, farà del suo meglio per regolare il caso per via di amichevole composizione con l'autorità competente dell'altro Stato Contraente, al fine di evitare una tassazione non conforme alla presente Convenzione. Se si raggiunge un accordo, detto accordo sarà applicato a prescindere dai termini di tempo previsti dalle legislazioni nazionali degli Stati Contraenti.

3 - Le autorità competenti degli Stati Contraenti faranno del loro meglio per risolvere per via di amichevole composizione le difficoltà o i dubbi inerenti all'interpretazione o all'applicazione della presente Convenzione.

4 - Le autorità competenti degli Stati Contraenti potranno comunicare tra loro direttamente, anche attraverso una commissione congiunta composta da loro stesse o da loro rappresentanti, al fine di pervenire ad un accordo come indicato nei paragrafi precedenti.

Articolo 26

Scambio di informazioni

1 - Le autorità competenti degli Stati Contraenti si scambieranno le informazioni che sono verosimilmente pertinenti per applicare le disposizioni della presente Convenzione o all'amministrazione od attuazione delle leggi interne relative alle imposte di ogni genere e denominazione prelevate per conto degli Stati Contraenti, o delle loro suddivisioni politiche o amministrative o enti locali, nella misura in cui la tassazione che tali leggi prevedono non è contraria alla Convenzione. Lo scambio di informazioni non viene limitato dagli articoli 1 e 2.

2 - Le informazioni ricevute ai sensi del paragrafo 1 da uno Stato Contraente saranno tenute segrete, analogamente alle informazioni ottenute in base alla legislazione interna di detto Stato e saranno comunicate soltanto alle persone od autorità (ivi compresi i tribunali e gli organi amministrativi) incaricate dell'accertamento o della riscossione delle imposte previste al paragrafo 1, delle procedure o dei procedimenti concernenti tali imposte, delle decisioni di ricorsi presentati per tali imposte, o della supervisione di quanto sopra. Dette persone o le predette autorità utilizzeranno tali informazioni soltanto per questi fini. Esse potranno servirsi di queste informazioni nel corso di udienze pubbliche di tribunali o nei giudizi.

3 - Le disposizioni dei paragrafi 1 e 2 non possono in nessun caso essere interpretate nel senso di imporre ad uno Stato Contraente l'obbligo:

4 - Se le informazioni sono richieste da uno Stato Contraente in conformità al presente articolo, l'altro Stato Contraente utilizzerà le proprie misure di raccolta delle informazioni per ottenere le informazioni richieste, anche nel caso in cui detto altro Stato non necessiti di tali informazioni ai propri fini fiscali. L'obbligo contenuto nella precedente frase è soggetto ai limiti imposti dal paragrafo 3, ma tali limitazioni non saranno in nessun caso interpretate nel senso di consentire ad uno Stato Contraente di rifiutarsi di fornire dette informazioni per il semplice motivo che non ha interessi interni nei confronti di tali informazioni.

5 - Le disposizioni del paragrafo 3 non possono in nessun caso essere interpretate nel senso di permettere ad uno Stato Contraente di rifiutarsi di fornire informazioni per il semplice motivo che tali informazioni sono detenute da un istituto bancario, da altro istituto finanziario, da prestanome o soggetto che agisce in qualità di agenzia o fiduciaria o perché riferite a quote di partecipazione in un soggetto.

6 - Gli Stati Contraenti ottempereranno alle Linee Guida per la Regolamentazione dei Documenti Informatici contenenti Dati Personali come stabilite dall'Assemblea Generale delle Nazioni Unite con Risoluzione A/RES/45/95, adottata il 14 dicembre 1990.

Articolo 27

Membri di missioni diplomatiche e uffici consolari

Le disposizioni della presente Convenzione non pregiudicano i privilegi fiscali di cui beneficiano i membri di missioni diplomatiche o uffici consolari in virtù delle regole generali del diritto internazionale o delle disposizioni di accordi particolari.

Articolo 28

Limitazioni ai benefici

1 - Un residente di uno Stato Contraente che ritragga redditi dall'altro Stato Contraente non ha diritto alle detrazioni fiscali altrimenti previste dalla presente Convenzione se lo scopo principale o uno degli scopi principali di qualsiasi persona coinvolta nella produzione o assegnazione di tale elemento di reddito è stato di abusare delle disposizioni di tale Convenzione.

2 - Le disposizioni della presente Convenzione non si applicano alle società che beneficiano di uno speciale trattamento fiscale ai sensi delle leggi o delle pratiche amministrative di uno o dell'altro Stato Contraente. In maniera analoga, tali disposizioni non si applicano in relazione ai redditi che un residente dell'altro Stato Contraente percepisce da tali società o in relazione ad azioni o ad altri diritti societari nel capitale di dette società detenute da tale residente.

TITOLO VI

Disposizioni finali

Articolo 29

Entrata in vigore

1 - Ciascuno Stato Contraente notifica all'altro, per iscritto, l'avvenuto espletamento delle procedure richieste dalle proprie leggi per l'entrata in vigore della presente Convenzione. La Convenzione entrerà in vigore a decorrere da trenta giorni successivi alla data in cui si è ricevuta l'ultima di tali notifiche.

2 - Le disposizioni di tale Convenzione si applicheranno:

(a) in Portogallo:

(i) con riferimento alle imposte prelevate alla fonte, per operazioni tassabili che hanno luogo a decorrere dal primo gennaio dell'anno immediatamente successivo a quello in cui la presente Convenzione è entrata in vigore;

(ii) con riferimento ad altre imposte, al reddito prodotto in periodi di imposta che iniziano a decorrere dal primo gennaio dell'anno immediatamente successivo a quello in cui la presente Convenzione è entrata in vigore.

(b) a San Marino:

(i) con riferimento alle imposte prelevate mediante ritenuta alla fonte, alle somme realizzate a partire dal primo gennaio dell'anno solare immediatamente successivo a quello in cui la presente Convenzione è entrata in vigore; e

(ii) con riferimento alle altre imposte sul reddito, alle imposte relative ai periodi di imposta a partire dal primo gennaio dell'anno solare immediatamente successivo a quello in cui la presente Convenzione è entrata in vigore.

Articolo 30

Denuncia

La presente Convenzione resterà in vigore fino alla denuncia da parte di uno Stato Contraente. Ciascuno Stato Contraente potrà denunciare la Convenzione non prima che siano passati cinque anni dalla sua entrata in vigore, attraverso i canali diplomatici, dando notifica di denuncia per iscritto almeno sei mesi prima del termine dell'anno solare. In tal caso, la Convenzione cesserà di avere effetto:

(a) in Portogallo:

(i) con riferimento all'imposta ritenute alla fonte, per operazioni tassabili che hanno luogo a decorrere dal primo gennaio dell'anno immediatamente successivo a quello specificato in detta notifica di denuncia;

(ii) con riferimento ad altre imposte, al reddito prodotto nel periodo di imposta a decorrere dal primo gennaio dell' anno immediatamente successivo a quello specificato in detta notifica di denuncia.

(b) a San Marino:

(i) con riferimento alle imposte prelevate mediante ritenuta alla fonte, alle somme realizzate a partire dal primo gennaio dell'anno solare successivo a quello in cui è data notifica di denuncia; e

(ii) con riferimento alle altre imposte sul reddito, alle imposte relative ai periodi di imposta a partire dal primo gennaio dell'anno solare immediatamente successivo a quello in cui è stata notificata la denuncia.

In fede di che i sottoscritti, debitamente autorizzati dai rispettivi Governi, hanno firmato la presente Convenzione.

Fatto in duplice esemplare a San Marino il 18 novembre 2010 nelle lingue portoghese, italiana e inglese, tutti e tre i testi facenti ugualmente fede. In caso di divergenza di interpretazione e applicazione della presente Convenzione, prevale il testo inglese.

Per la Repubblica Portoghese:

Sérgio Vasques, Segretario di Stato per gli Affari Fiscali.

Per la Repubblica di San Marino:

Antonella Mularoni, Segretario di Stato per gli Affari Esteri.

PROTOCOLLO ALLA CONVENZIONE TRA LA REPUBBLICA PORTOGHESE E LA REPUBBLICA DI SAN MARINO PER EVITARE LE DOPPIE IMPOSIZIONI E PREVENIRE L'EVASIONE FISCALE IN MATERIA DI IMPOSTE SUL REDDITO.

Al momento della firma della Convenzione conclusa in data odierna tra la Repubblica Portoghese e la Repubblica di San Marino per evitare le doppie imposizioni e prevenire l'evasione fiscale in materia di imposte sul reddito, sono state convenute le seguenti disposizioni aggiuntive che sono parte integrante della presente Convenzione.

Resta inteso che:

1 - Le disposizioni della Convenzione non ostano all'applicazione dell'Accordo fra la Comunità Europea e la Repubblica di San Marino, il quale stabilisce misure equivalenti a quelle previste nella Direttiva 2003/48/CE del Consiglio sulla tassazione dei redditi da risparmio sotto forma di pagamenti di interessi, firmato a Bruxelles il 7 dicembre 2004.

2 - Con riferimento al paragrafo 3 dell'articolo 8, qualora società provenienti da diversi paesi abbiano concordato di intraprendere assieme attività d'affari legate al trasporto aereo sottoforma di un consorzio o forma analoga di associazione, le disposizioni del paragrafo 1 del medesimo articolo si applicheranno alla quota degli utili del consorzio o associazione corrispondente alla partecipazione detenuta in quel consorzio o associazione da una società residente di uno Stato Contraente.

3 - Riguardo all'articolo 24, resta inteso che le disposizioni della Convenzione non dovranno essere interpretate in un modo che impedisca l'applicazione da parte di uno Stato Contraente delle norme anti-evasione previste dalla legge nazionale, soprattutto per quanto concerne la deducibilità delle spese e le norme di capitalizzazione sottile.

4 - Le autorità competenti degli Stati Contraenti decideranno di comune accordo le modalità di applicazione della presente Convenzione.

In fede di che i sottoscritti, debitamente autorizzati, hanno firmato il presente Protocollo.

Fatto in duplice esemplare a San Marino il 18 novembre 2010, nelle lingue portoghese, italiana e inglese, tutti tre i testi facenti ugualmente fede. In caso di divergenza di interpretazione e applicazione della presente Convenzione, prevale il testo inglese.

Per la Repubblica Portoghese:

Sérgio Vasques, Segretario di Stato per gli Affari Fiscali.

Per la Repubblica di San Marino:

Antonella Mularoni, Segretario di Stato per gli Affari Esteri.

CONVENTION BETWEEN THE PORTUGUESE REPUBLIC AND THE REPUBLIC OF SAN MARINO FOR THE AVOIDANCE OF DOUBLE TAXATION AND THE PREVENTION OF FISCAL EVASION WITH RESPECT TO TAXES ON INCOME.

The Portuguese Republic and the Republic of San Marino, desiring to conclude a Convention for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income, and to strengthen the disciplined development of economic relations between the two States in the framework of greater cooperation, have agreed as follows:

CHAPTER I

Scope of the Convention

Article 1

Persons covered

This Convention shall apply to persons who are residents of one or both of the Contracting States.

Article 2

Taxes covered

1 - This Convention shall apply to taxes on income imposed on behalf of a Contracting State or of its political or administrative subdivisions or local authorities, irrespective of the manner in which they are levied.

2 - There shall be regarded as taxes on income all taxes imposed on total income, or on elements of income, including taxes on gains from the alienation of movable or immovable property, taxes on the total amounts of wages or salaries paid by enterprises, as well as taxes on capital appreciation.

3 - The existing taxes to which the Convention shall apply are in particular:

(i) the personal income tax (imposto sobre o rendimento das pessoas singulares - IRS);

(ii) the corporate income tax (imposto sobre o rendimento das pessoas colectivas - IRC); and

(iii) the local surtax on corporate income tax (derrama);

(hereinafter referred to as «Portuguese tax»);

the general income tax which is levied:

(i) on individuals;

(ii) on bodies corporate and proprietorships;

even if collected through a withholding tax;

(hereinafter referred to as «San Marino tax»).

4 - The Convention shall apply also to any identical or substantially similar taxes that are imposed after the date of signature of the Convention in addition to, or in place of, the existing taxes. The competent authorities of the Contracting States shall notify each other of significant changes that have been made in their taxation laws.

CHAPTER II

Definitions

Article 3

General definitions

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

(i) in Portugal: the Minister of Finance, the Director General of Taxation (Director-Geral dos Impostos) or their authorized representative;

(ii) in San Marino, the Minister of Finance or his authorized representative;

(i) any individual possessing the nationality of a Contracting State;

(ii) any legal person, partnership or association deriving its status as such from the laws in force in a Contracting State.

2 - As regards the application of the Convention at any time by a Contracting State, 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 State for the purposes of the taxes to which the Convention applies, any meaning under the applicable tax laws of that State prevailing over a meaning given to the term under other laws of that State.

Article 4

Resident

1 - For the purposes of this Convention, the term «resident of a Contracting State» means any person who, under the laws of that State, 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 that State and any political or administrative subdivision or local authority thereof. This term, however, does not include any person who is liable to tax in that State in respect only of income from sources in that State.

2 - Where by reason of the provisions of paragraph 1 an individual is a resident of both Contracting States, then his status shall be determined as follows:

3 - Where by reason of the provisions of paragraph 1 a person other than an individual is a resident of both Contracting States, then it shall be deemed to be a resident only of the State in which its place of effective management is situated.

Article 5

Permanent establishment

1 - For the purposes of this Convention, the term «permanent establishment» means a fixed place of business through which the business of an enterprise is wholly or partly carried on.

2 - The term «permanent establishment» includes especially:

3 - A building site or construction or installation project constitutes a permanent establishment only if it lasts more than 12 months.

4 - Notwithstanding the preceding provisions of this article, the term «permanent establishment» shall be deemed not to include:

5 - Notwithstanding the provisions of paragraphs 1 and 2, where a person - other than an agent of an independent status to whom paragraph 6 applies - is acting on behalf of an enterprise and has, and habitually exercises, in a Contracting State an authority to conclude contracts in the name of the enterprise, that enterprise shall be deemed to have a permanent establishment in that State in respect of any activities which that person undertakes for the enterprise, unless the activities of such person are limited to those mentioned in paragraph 4 which, if exercised through a fixed place of business, would not make this fixed place of business a permanent establishment under the provisions of that paragraph.

6 - An enterprise shall not be deemed to have a permanent establishment in a Contracting State merely because it carries on business in that State through a broker, general commission agent or any other agent of an independent status, provided that such persons are acting in the ordinary course of their business.

7 - The fact that a company which is a resident of a Contracting State controls or is controlled by a company which is a resident of the other Contracting State, or which carries on business in that other State (whether through a permanent establishment or otherwise), shall not of itself constitute either company a permanent establishment of the other.

CHAPTER III

Taxation of income

Article 6

Income from immovable property

1 - Income derived by a resident of a Contracting State from immovable property (including income from agriculture or forestry) situated in the other Contracting State may be taxed in that other State.

2 - The term «immovable property» shall have the meaning which it has under the law of the Contracting State in which the property in question is situated. The term shall in any case include property accessory to immovable property, livestock and equipment used in agriculture or forestry, rights to which the provisions of general law respecting landed property apply, usufruct of immovable property and rights to variable or fixed payments as consideration for the working of, or the right to work, mineral deposits, sources and other natural resources; ships and aircraft shall not be regarded as immovable property.

3 - The provisions of paragraph 1 shall apply to income derived from the direct use, letting, or use in any other form of immovable property.

4 - The provisions of paragraphs 1 and 3 shall also apply to the income from immovable property of an enterprise and to income from immovable property used for the performance of independent personal services.

5 - The foregoing provisions shall also apply to income from movable property, or income derived from services connected with the use or the right to use the immovable property, either of which, under the taxation law of the Contracting State in which the property is situated, is assimilated to income from immovable property.

Article 7

Business profits

1 - The profits of an enterprise of a Contracting State shall be taxable only in that State unless the enterprise carries on business in the other Contracting State through a permanent establishment situated therein. If the enterprise carries on business as aforesaid, the profits of the enterprise may be taxed in the other State but only so much of them as is attributable to that permanent establishment.

2 - Subject to the provisions of paragraph 3, where an enterprise of a Contracting State carries on business in the other Contracting State through a permanent establishment situated therein, there shall in each Contracting State be attributed to that permanent establishment the profits which it might be expected to make if it were a distinct and separate enterprise engaged in the same or similar activities under the same or similar conditions and dealing wholly independently with the enterprise of which it is a permanent establishment.

3 - In determining the profits of a permanent establishment, there shall be allowed as deductions expenses which are incurred for the purposes of the permanent establishment, including executive and general administrative expenses so incurred, whether in the State in which the permanent establishment is situated or elsewhere.

4 - Insofar as it has been customary in a Contracting State to determine the profits to be attributed to a permanent establishment on the basis of an apportionment of the total profits of the enterprise to its various parts, nothing in paragraph 2 shall preclude that Contracting State from determining the profits to be taxed by such an apportionment as may be customary; the method of apportionment adopted shall, however, be such that the result shall be in accordance with the principles contained in this article.

5 - No profits shall be attributed to a permanent establishment by reason of the mere purchase by that permanent establishment of goods or merchandise for the enterprise.

6 - For the purposes of the preceding paragraphs, the profits to be attributed to the permanent establishment shall be determined by the same method year by year unless there is good and sufficient reason to the contrary.

7 - Where profits include items of income which are dealt with separately in other articles of this Convention, then the provisions of those articles shall not be affected by the provisions of this article.

Article 8

Shipping and air transport

1 - Profits from the operation of ships or aircraft in international traffic shall be taxable only in the Contracting State in which the place of effective management of the enterprise is situated.

2 - If the place of effective management of a shipping enterprise is aboard a ship, then it shall be deemed to be situated in the Contracting State in which the home harbour of the ship is situated, or, if there is no such home harbour, in the Contracting State of which the operator of the ship is a resident.

3 - The provisions of paragraph 1 shall also apply to profits derived from the participation in a pool, a joint business or an international operating agency.

Article 9

Associated enterprises

1 - Where

and in either case conditions are made or imposed between the two enterprises in their commercial or financial relations which differ from those which would be made between independent enterprises, then any profits which would, but for those conditions, have accrued to one of the enterprises, but, by reason of those conditions, have not so accrued, may be included in the profits of that enterprise and taxed accordingly.

2 - Where a Contracting State includes in the profits of an enterprise of that State - and taxes accordingly - profits on which an enterprise of the other Contracting State has been charged to tax in that other State and the profits so included are profits which would have accrued to the enterprise of the first-mentioned State if the conditions made between the two enterprises had been those which would have been made between independent enterprises, then that other State shall make an appropriate adjustment to the amount of the tax charged therein on those profits, if the other Contracting State considers the adjustment justified. In determining such adjustment, due regard shall be had to the other provisions of this Convention and the competent authorities of the Contracting States shall if necessary consult each other.

Article 10

Dividends

1 - Dividends paid by a company which is a resident of a Contracting State to a resident of the other Contracting State may be taxed in that other State.

2 - However, such dividends may also be taxed in the Contracting State of which the company paying the dividends is a resident and according to the laws of that State, but if the beneficial owner of the dividends is a resident of the other Contracting State, the tax so charged shall not exceed:

This paragraph shall not affect the taxation of the company in respect of the profits out of which the dividends are paid.

3 - The term «dividends» as used in this article means income from shares, «jouissance» shares or «jouissance» rights, mining shares, founders' shares or other rights, not being debt-claims, participating in profits, as well as income from other corporate rights which is subjected to the same taxation treatment as income from shares by the laws of the State of which the company making the distribution is a resident. The term also includes profits attributed under an arrangement for participation in profits (associação em participação).

4 - The provisions of paragraphs 1 and 2 shall not apply if the beneficial owner of the dividends, being a resident of a Contracting State, carries on business in the other Contracting State of which the company paying the dividends is a resident, through a permanent establishment situated therein, or performs in that other State independent personal services from a fixed base situated therein, and the holding in respect of which the dividends are paid is effectively connected with such permanent establishment or fixed base. In such case the provisions of article 7 or article 14, as the case may be, shall apply.

5 - Where a company which is a resident of a Contracting State derives profits or income from the other Contracting State, that other State may not impose any tax on the dividends paid by the company, except insofar as such dividends are paid to a resident of that other State or insofar as the holding in respect of which the dividends are paid is effectively connected with a permanent establishment or a fixed base situated in that other State, nor subject the company's undistributed profits to a tax on the company's undistributed profits, even if the dividends paid or the undistributed profits consist wholly or partly of profits or income arising in such other State.

Article 11

Interest

1 - Interest 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 interest may also be taxed in the Contracting State in which it arises and according to the laws of that State, but if the beneficial owner of the interest is a resident of the other Contracting State, the tax so charged shall not exceed 10 per cent of the gross amount of the interest.

3 - The term «interest» as used in this article means income from debt-claims of every kind, whether or not secured by mortgage and whether or not carrying a right to participate in the debtor's profits, and in particular, income from government securities and income from bonds or debentures, including premiums and prizes attaching to such securities, bonds or debentures. Penalty charges for late payment shall not be regarded as interest for the purpose of this article.

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 or article 14, 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 he is 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, 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 interest, having regard to the debt-claim for which it is 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 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 10 per cent of the gross amount of the royalties.

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 cinematograph films, and films or tapes for radio or television broadcasting, any patent, trade mark, design or model, plan, secret formula or process, 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 or article 14, 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 he is a resident of a Contracting State or not, has in a Contracting State a permanent establishment or fixed base in connection with which the obligation to pay the royalties was incurred, and such royalties are borne by that 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 referred to in article 6 and 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 fixed base, may be taxed in that other State.

3 - Gains from the alienation of ships or aircraft operated in international traffic or movable property pertaining to the operation of such ships or aircraft shall be taxable only in the Contracting State in which the place of effective management of the enterprise is situated.

4 - Gains derived by a resident of a Contracting State from the alienation of shares deriving more than 50 percent of their value directly or indirectly from immovable property situated in the other Contracting State may be taxed in that other State.

5 - Gains from the alienation of any property other than that referred to in paragraphs 1, 2, 3 and 4, shall be taxable only in the Contracting State of which the alienator is a resident.

Article 14

Independent personal services

1 - Income derived by a resident of a Contracting State in respect of professional services or other activities of an independent character shall be taxable only in that State unless he has a fixed base regularly available to him in the other Contracting State for the purpose of performing his activities. If he has such a fixed base, the income may be taxed in the other Contracting State but only so much of it as is attributable to that fixed base.

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, 18, 19 and 20, salaries, wages and other similar 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:

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 may be taxed in the Contracting State in which the place of effective management of the enterprise is situated.

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 and 15, 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 - 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, notwithstanding the provisions of articles 7, 14 and 15, be taxed in the Contracting State in which the activities of the entertainer or sportsman are exercised.

Article 18

Pensions

1 - Subject to the provisions of paragraph 2 of article 19, pensions and other similar remuneration paid to a resident of a Contracting State in consideration of past employment shall be taxable only in that State.

2 - The provisions of paragraph 1 shall not apply if the recipient is not liable to tax in respect of such income in the State of which he is a resident and according to the laws of that State. In such case such income shall be taxable in the State in which it arises.

3 - Notwithstanding the provisions in paragraph 1 of this article, pensions and other similar payments made by a Contracting State under provisions of the social security legislation may be taxed in the State in which it arises.

Article 19

Government service

1 - a) Salaries, wages and other similar remuneration, other than a pension, paid by a Contracting State or a political or administrative 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.

(i) 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 - a) Any pension paid by, or out of funds created by, a Contracting State or a political or administrative 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.

3 - The provisions of articles 15, 16, 17 and 18 shall apply to salaries, wages and other similar remuneration, and to pensions, 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

Professors and researchers

An individual who is or was a resident of a Contracting State immediately before visiting the other Contracting State, solely for the purpose of teaching or scientific research at a university, college, school, or other similar educational or scientific research institution which is recognized as non-profitable by the Government of that other State, or under an official programme of cultural exchange, for a period not exceeding two years from the date of his first arrival in that other State, shall be exempt from tax in that other State on his remuneration for such teaching or research.

Article 21

Students

Payments which a student or business apprentice 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 22

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, 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 or article 14, as the case may be, shall apply.

CHAPTER IV

Methods for elimination of double taxation

Article 23

Elimination of double taxation

1 - In the case of Portugal, double taxation shall be avoided as follows:

2 - In the case of San Marino, double taxation shall be avoided as follows:

CHAPTER V

Special provisions

Article 24

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, also apply to persons 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. Nothing in this provision 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 which it grants to its own residents.

3 - Except where the provisions of paragraph 1 of article 9, paragraph 6 of article 11, or paragraph 6 of article 12, 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.

4 - Enterprises 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 enterprises of the first-mentioned State are or may be subjected.

5 - The provisions of this article shall, notwithstanding the provisions of article 2, apply to taxes of every kind and description.

Article 25

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 24, 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 mutual agreement 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. If an agreement is reached, it shall be implemented notwithstanding any time limits in the domestic law of the Contracting States.

3 - The competent authorities of the Contracting States shall endeavour to resolve by mutual agreement any difficulties or doubts arising as to the interpretation or application of the Convention.

4 - The competent authorities of the Contracting States may communicate with each other directly, including through a joint commission consisting of themselves or their representatives, for the purpose of reaching an agreement in the sense of the preceding paragraphs.

Article 26

Exchange of information

1 - The competent authorities of the Contracting States shall exchange such information as is foreseeably relevant for carrying out the provisions of this Convention or to the administration or enforcement of the domestic laws concerning taxes of every kind and description imposed on behalf of the Contracting States, or of their political or administrative subdivisions or local authorities, insofar as the taxation thereunder is not contrary to the Convention. The exchange of information is not restricted by articles 1 and 2.

2 - Any information received under paragraph 1 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, the determination of appeals in relation to the taxes referred to in paragraph 1, or the oversight of the above. 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.

3 - In no case shall the provisions of paragraphs 1 and 2 be construed so as to impose on a Contracting State the obligation:

4 - If information is requested by a Contracting State in accordance with this article, the other Contracting State shall use its information gathering measures to obtain the requested information, even though that other State may not need such information for its own tax purposes. The obligation contained in the preceding sentence is subject to the limitations of paragraph 3 but in no case shall such limitations be construed to permit a Contracting State to decline to supply information solely because it has no domestic interest in such information.

5 - In no case shall the provisions of paragraph 3 be construed to permit a Contracting State to decline to supply information solely because the information is held by a bank, other financial institution, nominee or person acting in an agency or a fiduciary capacity or because it relates to ownership interests in a person.

6 - The Contracting States shall comply with the Guidelines for the Regulation of Computer Files containing Personal Data as established by the United Nations General Assembly Resolution A/RES/45/95, adopted on the 14th December 1990.

Article 27

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 28

Limitation of benefits

1 - A person that is a resident of a Contracting State and derives income from the other Contracting State shall not be entitled to relief from taxation otherwise provided for in this Convention if it was the main purpose or one of the main purposes of any person concerned with the creation or assignment of such item of income to take advantage of the provisions of this Convention.

2 - The provisions of this Convention shall not be applicable to companies which benefit from a special fiscal treatment under the laws or administrative practice of that or of the other Contracting State. Similarly, such provisions shall not be applicable in respect of income which a resident of the other Contracting State receives from such companies, or in respect of shares or other corporate rights in the capital of those companies which are held by such resident.

CHAPTER VI

Final provisions

Article 29

Entry into force

1 - Each Contracting State shall notify to the other in writing the completion of the procedures required by its laws for the entering into force of this Convention. The Convention shall enter into force thirty days after the date of the latter of these notifications.

2 - The provisions of this Convention shall have effect:

ii) in respect of other taxes, as to income arising in any fiscal year beginning on or after the first day of January of the year next following the year in which this Convention enters into force;

ii) with respect to the other taxes on income, to the taxes referred to taxable periods as from 1 January of the calendar next following that in which this Convention enters into force.

Article 30

Termination

This Convention shall remain in force until terminated by a Contracting State. Either Contracting State may terminate the Convention not earlier than five years from its entry into force, through diplomatic channels, by giving notice of termination in writing at least six months before the end of the calendar year. In such event, the Convention shall cease to have effect:

ii) in respect of other taxes, as to income arising in the fiscal year beginning on or after the first day of January of the year next following that specified in the said notice of termination;

ii) with respect to the other taxes on income, to the taxes referred to taxable periods as from 1 January of the calendar next following that in which the notification of termination is given.

In witness whereof the undersigned, duly authorized thereto, have signed this Convention.

Done in duplicate at San Marino this 18th day of November, 2010 in the Portuguese, Italian 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:

Sérgio Vasques, Secretary of State for Fiscal Affairs.

For the Republic of San Marino:

Antonella Mularoni, Secretary of State for Foreign Affairs.

PROTOCOL TO THE CONVENTION BETWEEN THE PORTUGUESE REPUBLIC AND THE REPUBLIC OF SAN MARINO FOR THE AVOIDANCE OF DOUBLE TAXATION AND THE PREVENTION OF FISCAL EVASION WITH RESPECT TO TAXES ON INCOME.

When signing the Convention concluded today between the Portuguese Republic and the Republic of San Marino for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income, the following additional provisions forming integral part of this Convention have been agreed upon.

It is understood that:

1 - The provisions of the Convention shall not prevent the application of the Agreement between the European Community and the Republic of San Marino providing for measures equivalent to those laid down in Council Directive 2003/48/EC on taxation of savings income in the form of interest payments signed at Brussels on 7 December 2004.

2 - With respect to paragraph 3 of article 8, whenever companies from different countries have agreed to carry on an air transportation business together in the form of a consortium or a similar form of association, the provisions of paragraph 1 of the same article shall apply to such part of the profits of the consortium or association as corresponds to the participation held in that consortium or association by a company that is a resident of a Contracting State.

3 - With respect to article 24, it is understood that the provisions of the Convention shall not be interpreted so as to prevent the application by a Contracting State of the anti-avoidance provisions provided for in its domestic law, especially regarding the deductibility of expenses and thin capitalization rules.

4 - The competent authorities of the Contracting States shall decide by mutual agreement the mode of application of this Convention.

In witness whereof the undersigned, duly authorized thereto, have signed this Protocol.

Done in duplicate at San Marino this 18th day of November, 2010 in the Portuguese, Italian 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:

Sérgio Vasques, Secretary of State for Fiscal Affairs.

For the Republic of San Marino:

Antonella Mularoni, Secretary of State for Foreign Affairs.