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Briefwisseling houdende een overeenkomst tussen het Koninkrijk der Nederlanden, ten behoeve van de Nederlandse Antillen, en de Republiek Cyprus betreffende automatische gegevensuitwisseling inzake inkomsten uit spaargelden in de vorm van rentebetaling

Geldig van 27 augustus 2004 tot 23 juli 2005
Geldig van 27 augustus 2004 tot 23 juli 2005

Briefwisseling houdende een overeenkomst tussen het Koninkrijk der Nederlanden, ten behoeve van de Nederlandse Antillen, en de Republiek Cyprus betreffende automatische gegevensuitwisseling inzake inkomsten uit spaargelden in de vorm van rentebetaling

Opschrift

[Regeling treedt in werking op 23-07-2005]

Nr. I. Agreement in the form of an exchange of letters on the taxation of savings income and the provisional application thereof

[Nog niet in werking]

Madam/Sir,

I have the honour to refer to the texts of respectively the “Convention between the Kingdom of the Netherlands in respect of the Netherlands Antilles and (Belgium, Austria and Luxembourg) concerning the automatic exchange of information regarding savings income in the form of interest payments”, the “Convention between the Kingdom of the Netherlands in respect of the Netherlands Antilles and (the EU Member State, other than Belgium, Austria and Luxembourg) concerning the automatic exchange of information regarding savings income in the form of interest payments”, the “Convention between the Kingdom of the Netherlands in respect of Aruba and (the EU Member State, other than Belgium, Austria and Luxembourg) concerning the automatic exchange of information regarding savings income in the form of interest payments" and the “Convention between the Kingdom of the Netherlands in respect of Aruba and (Belgium, Austria and Luxembourg) concerning the automatic exchange of information regarding savings income in the form of interest payments”, that resulted from the negotiations with the Netherlands Antilles and Aruba on a Savings Tax Agreement, and that were annexed, respectively as Annex I, II, III and IV, to the Outcome of Proceedings of the High Level Working Party of the Council of Ministers of the European Union of 12 March (doc. 7660/04 FISC 68).

In view of the above mentioned texts I have the honour to propose to you the “Convention concerning the automatic exchange of information regarding savings income in the form of interest payments” as contained in Appendix 1 to this letter, and our mutual undertaking to comply at the earliest possible date with our internal constitutional formalities for the entry into force of this Convention and to notify each other without delay when such formalities are completed.

Pending the completion of these internal procedures and the entry into force of this “Convention concerning the automatic exchange of information regarding savings income in the form of interest payments”, I have the honour to propose to you that the Republic of Cyprus and the Kingdom of the Netherlands in respect of the Netherlands Antilles apply this Convention provisionally, within the framework of our respective domestic constitutional requirements, as from 1 January 2005, or the date of application of Council Directive 2003/48/EC of 3 June 2003 on taxation of savings income in the form of interest payments, whichever is later.

I have the honour to propose that, if the above is acceptable to your Government, this letter and your confirmation shall together constitute an Agreement between the Republic of Cyprus and the Kingdom of the Netherlands in respect of the Netherlands Antilles.

Please accept, Madam/Sir, the assurance of our highest consideration,

For the Republic of Cyprus

DONE at Brussels, on 25 May 2004, in the English language in three copies.

Appendix Convention between the Kingdom of the Netherlands in respect of the Netherlands Antilles and the Republic of Cyprus concerning the automatic exchange of information regarding savings income in the form of interest payments

[Nog niet in werking]

Whereas:

  1. Article 17(2) of Directive 2003/48/EEC (“the Directive”) of the Council of the European Union (“the Council”) on taxation of savings income provides that Member States shall adopt and publish the laws, regulations and administrative provisions necessary to comply with the Directive from January 1, 2005, provided that:

    • the Swiss Confederation, the Principality of Liechtenstein, the Republic of San Marino, the Principality of Monaco and the Principality of Andorra from that same date apply measures equivalent to those contained in the Directive, in accordance with agreements entered into by them with the European Community, following unanimous decisions of the Council;

    • all agreements or other arrangements are in place, which provide that all the relevant dependent or associated territories apply from that date automatic exchange of information in the same manner as is provided for in Chapter II of the Directive, or, during the transitional period defined in Article 10, apply a withholding tax on the same terms as are contained in Articles 11 and 12.

  2. The Netherlands Antilles are not within the EU fiscal territory but are, for purposes of the Directive, an EU associated territory and as such are not bound by the terms of the Directive. However, the Kingdom of the Netherlands in respect of the Netherlands Antilles, on the basis of an agreement between the Netherlands Antilles and the Netherlands, is willing to enter into agreements with the Member States of the EU to apply from January 1, 2005, a withholding tax on the same terms as are contained in Articles 11 and 12 of the Directive during the transitional period defined in Article 10 thereof, and, after expiration of the transitional period, to apply automatic exchange of information in the same manner as is provided for in Chapter II of the Directive.

  3. The agreement between the Netherlands Antilles and the Netherlands, as stated in the previous paragraph, is contingent on the adoption by all the Member States of the laws, regulations and administrative provisions necessary to comply with the Directive, and on the requirements of Article 17 of the Directive being met.

  4. Through this Convention, the Netherlands Antilles agrees to apply the provisions of the Directive, subject to what is otherwise agreed herein, in regard of Beneficial Owners that are residents of the Republic of Cyprus and the Republic of Cyprus agrees to apply the Directive in regard to Beneficial Owners that are residents of the Netherlands Antilles.

The Government of the Kingdom of the Netherlands in respect of the Netherlands Antilles and the Government of the Republic of Cyprus, desiring to conclude a Convention which enables savings income in the form of Interest Payments made in one of the Contracting States to Beneficial Owners who are individuals resident in the other Contracting State, to be made subject to effective taxation in accordance with the laws of the latter Contracting State, in conformity with the Directive and with the intentions of the Contracting States as laid down herein above, have agreed as follows:

Article 1. General Scope [Nog niet in werking]

1.

This Convention shall apply to interest paid by a Paying Agent established within the territory of one of the Contracting States with a view to enable savings income in the form of Interest Payments made in one Contracting State to Beneficial Owners who are individuals resident for tax purposes in the other Contracting State to be made subject to effective taxation in accordance with the laws of the latter Contracting State.

2.

The scope of this Convention shall be limited to taxation of savings income in the form of Interest Payments on debt claims, to the exclusion, inter alia, of the issues relating to the taxation of pension and insurance benefits.

3.

As regards the Kingdom of the Netherlands, this Agreement shall apply only to the Netherlands Antilles.

Article 2. Definitions [Nog niet in werking]

Article 3. Identity and residence of beneficial owners [Nog niet in werking]

Article 4. Automatic exchange of information [Nog niet in werking]

Article 5. Transitional provisions [Nog niet in werking]

Article 6. Revenue sharing [Nog niet in werking]

Article 7. Exceptions to the withholding procedure [Nog niet in werking]

Article 8. Elimination of double taxation [Nog niet in werking]

Article 9. Other withholding taxes [Nog niet in werking]

Article 10. Transposition [Nog niet in werking]

Article 11. Annex [Nog niet in werking]

Article 12. Entry Into Force [Nog niet in werking]

Article 13. Termination [Nog niet in werking]

Annex

Nr. II

Nr. I. Overeenkomst in de vorm van een briefwisseling betreffende belastingheffing op inkomsten uit spaargelden en de voorlopige toepassing ervan

Aanhangsel Overeenkomst tussen het Koninkrijk der Nederlanden, ten behoeve van de Nederlandse Antillen, en de Republiek Cyprus betreffende automatische gegevensuitwisseling inzake inkomsten uit spaargelden in de vorm van rentebetaling

Artikel 1. Toepassingsgebied [Nog niet in werking]

Artikel 2. Definities [Nog niet in werking]

Artikel 3. Identiteit en woonplaats van de uiteindelijk gerechtigden [Nog niet in werking]

Artikel 4. Automatische gegevensuitwisseling [Nog niet in werking]

Artikel 5. Overgangsbepalingen [Nog niet in werking]

Artikel 6. Verdeling van belastingopbrengsten [Nog niet in werking]

Artikel 7. Uitzonderingen op de procedure van bronbelasting [Nog niet in werking]

Artikel 8. Voorkomen van dubbele belasting [Nog niet in werking]

Artikel 9. Andere bronbelastingen [Nog niet in werking]

Artikel 10. Omzetting [Nog niet in werking]

Artikel 11. Bijlage [Nog niet in werking]

Artikel 12. Inwerkingtreding [Nog niet in werking]

Artikel 13. Beëindiging [Nog niet in werking]

Bijlage

Nr. II