Treaty Series Recueil des Traitds - United Nations Treaty Collection

250 United Nations - Treaty Series 1967
(b) the same persons participate directly or indirectly in the management,
control or capital of an enterprise of one of the territories and an enterprise
of the other territory;
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 these 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.
Article 7
Notwithstanding the provisions of Articles 5 and 6 income from the
operation of ships or aircraft in international traffic shall be taxable only in
the territory in which the place of effective management of the enterprise is
situated.
Article 8
(1) Dividends paid by a company which is a resident of one of the territories
to a resident of the other territory may be taxed in that other territory.
(2) However, and subject to paragraphs (3), (4) and (5) of this Article,
such dividends may be taxed in the territory of which the company paying
the dividends is a resident and according to the law of that territory.
(3) Dividends which are derived from a company which is a resident
of the United Kingdom and paid before 6 April, 1966, and which are beneficially
owned by a resident of Trinidad and Tobago shall be exempt from
United Kingdom surtax.
(4) The United Kingdom tax on dividends which are derived from a
company which is a resident of the United Kingdom and paid after 5 April,
1966, and which are beneficially owned by a resident of Trinidad and Tobago
shall not exceed the specified amount.
(5) The Trinidad and Tobago tax on dividends which are derived from
a company which is a resident of Trinidad and Tobago and which are beneficially
owned by a resident of the United Kingdom shall not exceed the
specified amount.
(6) The term " specified amount " in paragraphs (4) and (5) of this Article
means:
(a) 15 per cent. of the gross amount of the dividends if the recipient
is a company which controls directly or indirectly at least 25 per cent. of
the voting power of the company paying the dividends and, where the chief
business of the company paying the dividends is not the making of loans,
No. 8766