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. Memorandum of Understanding
Date: 2004-12-07
Institutions: European Community, San Marino
Subjects: San Marino, agreement (EU), exchange of information, interest, savings, tax on investment income

28.12.2004

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Official Journal of the European Union

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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

AGREEMENT

THE EUROPEAN COMMUNITY, hereinafter referred to as ‘Community’,

and

THE REPUBLIC OF SAN MARINO, hereinafter referred to as San Marino,

both hereinafter referred to as ‘Contracting Party’ or ‘Contracting Parties’,

HAVE AGREED AS FOLLOWS:

Article 1

Aim

1.
The purpose of this Agreement between the Community
and San Marino is to consolidate and extend the existing close
relations between the two Contracting Parties by establishing
to those laid down in the Council
measures equivalent
Directive 2003/48/EC of 3 June 2003 on taxation of savings
income in the form of interest payments made to beneficial
owners,
for tax purposes in a Member
State of the European Community, hereinafter referred to as
the Directive.

individuals, resident

2.
San Marino shall take the necessary measures and speci-
fically provide for provisions on procedures and penalties, to
ensure that the tasks necessary for the implementation of this
Agreement are carried out by paying agents established within
its territory,
irrespective of the place of establishment of the
debtor of the debt-claim producing the interest.

Article 2

Definition of beneficial owner

For the purposes of this Agreement,

‘beneficial owner’
1.
shall mean any individual who receives an interest payment
or any individual for whom an interest payment is secured,
unless
it was not
received or secured for his or her own benefit, that is to say
that:

such individual provides evidence that

(a) he or she acts as a paying agent within the meaning of

Article 4, or

(b) he or she acts on behalf of a legal person, an investment
fund or a comparable or equivalent body for common
investments in securities, or

(c) he or she acts on behalf of another individual who is the
beneficial owner and discloses to the paying agent
the
identity of
in accordance with
Article 3.

that beneficial owner

2. Where a paying agent has information suggesting that the
individual who receives an interest payment or for whom an
interest payment is secured may not be the beneficial owner,
and where neither paragraph 1(a) nor 1(b) applies to that indi-
vidual, that agent shall take reasonable steps to establish the
identity of the beneficial owner in accordance with Article 3. If
the paying agent is unable to identify the beneficial owner, that
in question as the beneficial
agent shall treat the individual
owner.

Article 3

Identity and residence of beneficial owners

carried out

the family name,

In order to establish the identity and residence of the beneficial
owner as defined in Article 2, the paying agent shall keep a
the first name and the data
record of
concerning the address and residence status in accordance
with the Republic of San Marino Law against usury and
money-laundering. For contractual relations entered into, or
contractual
in the
transactions
relations, on or after 1 January 2004, for individuals presenting
a passport or official identity card issued by a Member State of
the European Union, hereinafter referred to as ‘Member State’,
who declare themselves to be resident in a State other than a
Member State or San Marino, residence shall be established by
means of a tax residence certificate issued by the competent
authority of the State in which the individual claims to be
resident. Failing the presentation of such a certificate,
the
Member State which issued the passport or other official
identity document shall be considered the State of residence.

absence of

Article 4

Definition of paying agent

‘paying agent’

For the purposes of
in San
this Agreement,
Marino shall mean banks under San Marino banking law, as
well as economic operators including natural and legal persons
resident or
and
permanent establishments of foreign companies, which, even
occasionally, accept, hold,
third
parties or merely pay or secure interests in the course of their
business.

established in San Marino, partnerships

invest or transfer assets of

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Article 5

Definition of competent authority

established within the territories referred to in Article
19,

For the purposes of this Agreement the ‘competent autho-
the Contracting Parties’ shall mean those listed in

1.
rities of
Annex I.

(ii) an entity domiciled in a Member State, which exercises
the Directive and

the option under Article 4(3), of
informs the paying agent of this fact,

The ‘competent authorities of States not included in the
2.
Contracting Parties’ shall mean those authorities of such States
which are competent for the purposes of bilateral or multilateral
conventions, or, failing that, which are competent to issue certi-
ficates of residence for tax purposes.

Article 6

Definition of interest payment

For the purposes of this Agreement,

1.
means:

‘interest payment’

(a)

interest paid, or credited to an account, relating to 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 payments shall not be
regarded as interest payments;

(b) interest accrued or capitalised at

the sale,

refund or

redemption of the debt-claims referred to in (a);

(c)

income deriving from interest payments either directly or
through an entity referred to in Article 4(2) of the Directive,
distributed by:

(i) undertakings for collective investment or comparable or
equivalent bodies for common investments in securities
established within the territories referred to in Article
19,

(ii) an entity domiciled in a Member State, which exercises
the Directive and

the option under Article 4(3) of
informs the paying agent of this fact,

(iii) undertakings for collective investment or comparable or
equivalent bodies for common investment in securities
established outside the territories referred to in Article
19.

However, San Marino shall have the option of including income
mentioned under (d) in the definition of interest only to the
extent
that such income corresponds to gains directly or
indirectly deriving from interest payments within the meaning
of (a) and (b).

2.
As regards paragraphs 1(c) and (d), when a paying agent
has no information concerning the proportion of the income
which derives from interest payments, the total amount of the
income shall be considered an interest payment.

3.
As regards paragraph 1(d), when a paying agent has no
information concerning the percentage of the assets invested in
debt-claims or in shares or units as defined in that paragraph,
that percentage shall be considered to be above 40 %. Where
that agent cannot determine the amount of income realised by
the beneficial owner, the income shall be deemed to correspond
to the proceeds of the sale, refund or redemption of the shares
or units.

requiring paying agents

4.
As regards paragraphs 1(b) and (d), San Marino shall have
territory to
the option of
annualise the interest over a period of time which may not
exceed one year, and treating such annualised interest as an
interest payment even if no sale, redemption or refund occurs
during that period.

in its

5.
By way of derogation from paragraphs 1(c) and (d), San
Marino shall have the option of excluding from the definition of
interest payment any income referred to in those paragraphs
from undertakings or entities established within its territory
where the investment in debt-claims referred to in paragraph
1(a) of such entities has not exceeded 15 % of their assets.

(iii) undertakings for collective investment or comparable or
equivalent bodies for common investment in securities
established outside the territories referred to in Article
19;

The exercise of such option by San Marino, once notified to the
other Contracting Party, shall be binding on both Contracting
Parties.

(d) income realised upon the sale, refund or redemption of
shares or units in the following undertakings and entities,
if they invest directly or indirectly via other undertakings for
collective investment or entities referred to below more than
40 % of their assets in debt-claims as referred to in (a):

(i) undertakings for collective investment or comparable or
equivalent bodies for common investments in securities

The percentage

6.
paragraph 3 shall after 31 December 2010 be 25 %.

referred to in paragraph 1(d)

and

The percentages referred to in paragraph 1(d) and in
7.
paragraph 5 shall be determined by reference to the investment
policy as laid down in the fund rules or instruments of incor-
poration of the undertakings or entities concerned and, failing
which, by reference to the actual composition of the assets of
the undertakings or entities concerned.

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Article 7

Withholding tax

San Marino shall take the necessary measures to ensure

3.
the proper functioning of the revenue sharing system.

1. Where the beneficial owner is resident in a Member State,
San Marino shall levy a withholding tax at a rate of 15 % during
the first
this
Agreement, 20 % for the subsequent
three years and 35 %
thereafter.

three years from the date of application of

2.

The paying agent shall

levy withholding tax as follows:

(a)

in the case of an interest payment within the meaning of
Article 6(1)(a): on the amount of interest paid or credited;

(b) in the case of an interest payment within the meaning of
Article 6(1)(b) or (d): on the amount of interest or income
referred to in those paragraphs or by a levy of equivalent
effect to be borne by the recipient on the full amount of the
proceeds of the sale, redemption or refund;

(c)

in the case of an interest payment within the meaning of
Article 6(1)(c): on the amount of income referred to in that
paragraph;

(d) where San Marino exercises the option under Article 6(4):

on the amount of annualised interest.

3.
For the purposes of paragraph 2(a) and (b), withholding
tax is levied pro rata to the period of holding of the debt-claim
by the beneficial owner. When the paying agent is unable to
determine the period of holding on the basis of information in
its possession, it shall treat the beneficial owner as having held
the debt-claim throughout
its period of existence unless he
provides evidence of the date of acquisition.

Taxes other than that provided for in this Agreement on
4.
the same interest payment, and in particular the withholding
taxes levied by San Marino on San Marino's source interest
income, shall be credited against the amount of the withholding
tax calculated in accordance with this Article.

5.
The imposition of withholding tax by the paying agent
located in the Republic of San Marino shall not preclude the
Member State of residence for tax purposes of the beneficial
owner from taxing the income in accordance with its domestic
law.
In cases where a taxpayer declares his or her interest
income obtained from a paying agent located in San Marino
to the tax authorities in the Member State of his or her
residence,
to taxation
income shall be subject
the same rates as those applied to interest earned
there at
domestically.

interest

that

Article 8

Revenue sharing

San Marino shall retain 25 % of

1.
its revenue from the
withholding tax referred to in Article 7 and transfer 75 % of
the revenue to the Member State of residence of the beneficial
owner of the interest payment.

Such transfers shall

2.
Member State at
following the end of the tax year of San Marino.

take place in one instalment per
the latest within a period of six months

Article 9

Voluntary disclosure

1.
San Marino shall provide for a procedure which allows the
beneficial owner as defined in Article 2 to avoid the with-
holding tax referred to in Article 7 by expressly authorising
the
his paying agent established in San Marino to report
interest payments to the competent authority of
that State.
Such authorisation shall cover all
interest payments made to,
or secured for the immediate benefit of, the beneficial owner by
that paying agent.

2.
The minimum amount of information to be reported by
the paying agent in case of express authorisation by the bene-
ficial owner shall consist of:

(a)

the identity and residence of the beneficial owner estab-
lished in accordance with Article 3 of
this Agreement,
supplemented, when available, by the tax identification
number allocated by the Member State where the beneficial
owner has his or her residence;

(b) the name and address of the paying agent;

(c)

the account number of the beneficial owner or, where there
is none, identification of the debt-claim giving rise to the
interest, and

(d) the

amount of

the

interest payment

established in

accordance with Article 6 of this Agreement.

The competent authority of San Marino shall commu-
3.
nicate the information referred to in paragraph 2 to the
competent authority of the Member State of residence of the
beneficial owner. Such communications shall be automatic and
least once a year, within six months
shall
for all
following the end of
interest payments made during that year.

the tax year in San Marino,

take place at

Article 10

Elimination of double taxation

1.
The Member State of residence for tax purposes of the
beneficial owner shall ensure the elimination of any double
taxation which might result from the imposition of the with-
holding tax referred to in Article 7,
in accordance with the
provisions of paragraphs 2 and 3.

2.
If interest received by a beneficial owner has been subject
to the withholding tax referred to in Article 7 in San Marino,
the Member State of residence for tax purposes of the beneficial
owner shall grant him or her a tax credit equal to the amount
of the tax withheld, in accordance with its national law. Where
this amount exceeds the amount of tax due in accordance with
its national law on the total amount of the interest payment
which has been subject to the withholding tax referred to in
Article 7, the Member State of residence for tax purposes of the
beneficial owner shall repay to him or her the excess amount of
tax withheld.

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If, in addition to the withholding tax referred to in Article
3.
7, interest received by a beneficial owner has been subject to
any other type of withholding tax and the Member State of
residence for tax purposes of the beneficial owner grants a
for such withholding tax in accordance with its
tax credit
national law or double taxation conventions, such other with-
holding tax shall be credited before the procedure in paragraph
2 is applied.

The Member State of residence for tax purposes of the
4.
beneficial owner may replace the tax credit mechanism referred
to in paragraphs 2 and 3 by a refund of the withholding tax
referred to in Article 7.

Article 11

Transitional provisions for negotiable debt securities

From the date of application of this Agreement for as long
1.
as at least one Member State also applies similar provisions, and
until 31 December 2010 at the latest, domestic and interna-
tional bonds and other negotiable debt securities which were
first issued before 1 March 2001 or for which the original
issuing prospectuses were approved before that date by the
authorities which are competent
this purpose in the
issuing State shall not be considered as debt-claims within the
meaning of Article 6(1)(a), provided that no further issues of
such negotiable debt securities are made on or after 1 March
2002.

for

However, for as long as at least one Member State also applies
provisions similar to those of Article 7 of this Agreement the
provisions of this Article shall continue to apply beyond 31
December 2010 in respect of such negotiable debt securities:

— which contain gross-up and early redemption clauses, and

— where the paying agent, as defined in Article 4,

is estab-

lished in San Marino, and

— where that paying agent pays interest directly to, or secures
interest for the immediate benefit of, a

the payment of
beneficial owner resident in a Member State.

If and when all Member States cease to apply provisions similar
to those of Article 7 of this Agreement, the provisions of this
Article shall continue to apply only in respect of those nego-
tiable securities:

— which contain gross-up and early redemption clauses, and

— where the issuer's paying agent is established in San Marino,

and

— where that paying agent pays interest directly to, or secures
interest for the immediate benefit of, a

the payment of
beneficial owner resident in a Member State.

If a further issue is made on or after 1 March 2002 of an
aforementioned
a
Government or a related entity acting as a public authority or

negotiable

security

issued

debt

by

whose role is recognised by an international Agreement (listed
in Annex II to this Agreement), the entire issue of such a
security, consisting of the original issue and any further issue
shall be considered a debt-claim within the meaning of Article
6(1)(a).

If a further issue is made on or after 1 March 2002 of an
aforementioned negotiable debt security issued by any other
issuer not covered by the fourth subparagraph, such further
issue shall be considered a debt-claim within the meaning of
Article 6(1)(a).

This Article shall not prevent San Marino and the Member
2.
States from continuing to levy a tax on revenues deriving from
the aforementioned negotiable debt-claims in paragraph 1 in
accordance with their national law.

Article 12

Other withholding taxes — Relationships with other
agreements

This Agreement

shall not preclude the parties

1.
from
levying other types of withholding tax than that referred to in
this Agreement in accordance with their national laws or double
taxation conventions.

The provisions of

2.
taxation conventions
between San Marino and the Member States shall not prevent
the levying of the withholding tax for which this Agreement
provides.

the double

Article 13

Exchange of information on request

1.
The competent authorities of San Marino and of any
Member State shall exchange information on conduct consti-
tuting tax fraud under the laws of the requested State, or the
‘The like’ only
like for income covered by this Agreement.
includes offences with the same level of wrongfulness as is
the case for tax fraud under the laws of the requested State,
resulting in any prejudice for the taxation interests of
the
In response to a duly justified request, the
requesting State.
requested State shall provide information with respect to the
conduct that the requesting State is investigating, or may inves-
tigate, on a criminal or non-criminal basis.

2.
In determining whether information may be provided in
response to a request, the requested State shall apply the statute
of limitations applicable under the laws of the requesting State.

3.
The requested State shall provide information where the
requesting State has a reasonable suspicion that the conduct
would constitute tax fraud or the like. The requesting State's
reasonable suspicion of tax fraud or the like may be based on:

(a) documents, whether authenticated or not, and including but
not limited to business records, books of account, or bank
account information;

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(b) testimonial information from the taxpayer;

(c)

information obtained from an informant or other third
person that has been independently corroborated or is
otherwise likely to be credible; or

(d) circumstantial evidence.

The competent authority of

4.
the requesting State shall
provide the following elements to the competent authority of
the requested State when making a request for information
under
foreseeable
demonstrate
relevance of the information to the request:

this Agreement

the

to

(a)

the identity of the person under examination or investi-
gation;

(b) a statement of the information sought including its nature
and the form in which the requesting State wishes to receive
the information from the requested State;

(c)

the tax purpose for which the information is sought;

(d) grounds for believing that the information requested is held
in the requested State or is in the possession or control of a
person within the jurisdiction of the requested State;

(e)

to the extent known, the name and address of any person
believed to be in possession of the requested information;

(f) a statement that the request is in conformity with the law
and administrative practices of the requesting State, that if
the requested information was within the jurisdiction of the
requesting State then the competent authority of
the
requesting State would be able to obtain the information
under the laws of the requesting State or the normal course
of administrative practice and that it is in conformity with
this Agreement;

(g) a statement that the requesting State has pursued all means
available in its own territory to obtain the information,
except those that would give rise to disproportionate diffi-
culties.

The competent authority of

5.
the requested State shall
forward the requested information as promptly as possible to
the requesting State.

6.
San Marino shall enter into bilateral negotiations with
each of the Member States in order to define individual cate-
gories of cases falling under ‘the like’ in accordance with the
procedure of taxation applied by those States.

Article 14

Confidentiality

in the jurisdiction of

Any information received by a Contracting Party under this
shall be treated as confidential and may be
Agreement
disclosed only to persons or authorities (including courts and
administrative bodies)
the Contracting
Party concerned with the assessment or collection of, the enfor-
cement or prosecution in respect of, or the determination of
appeals in relation to, the taxes covered by this Agreement.
Such persons or authorities shall use such information only
for such purposes. They may disclose the information in
public court proceedings or in judicial decisions. The infor-
mation may not be disclosed to any other person or entity or
authority or any other jurisdiction without the express written
consent of the competent authority of the requested Party.

Article 15

Consultation and review

If

this Agreement,

any disagreement

competent
arises between the
1.
authority of San Marino and one or more of
the other
competent authorities listed in Annex I as to the interpretation
they shall endeavour to
or application of
resolve this by mutual agreement. They shall
immediately
notify the Commission of the European Communities and the
competent authorities of the other Member States of the results
of their consultations. In relation to issues of interpretation the
Commission may take part in consultations at the request of
any of the competent authorities listed in Annex I.

2.
The Contracting Parties shall consult each other at least
every three years or at the request of either Contracting Party
with a view to examining and,
if deemed necessary by the
Contracting Parties, improving the technical functioning of the
Agreement
and assessing international developments. The
consultations shall be held within one month of the request
or as soon as possible in urgent cases.

On the basis of such an assessment,

3.
the Contracting
Parties may consult each other in order to examine whether
changes to the Agreement are necessary taking into account
international developments.

As soon as sufficient experience of the full

4.
implemen-
tation of this Agreement is available, the Contracting Parties
shall consult each other in order to examine whether changes
to this Agreement are necessary taking into account interna-
tional developments.

For the purposes of the consultations referred to in para-
5.
graphs 1, 2 and 3, the Contracting Parties shall
inform each
other of possible developments which could impact on the
proper functioning of this Agreement. This shall also include
any relevant agreement between one of the Contracting Parties
and a third State.

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Article 16

Signing, entry into force and termination

1.
This Agreement requires ratification or approval by the
Contracting Parties in accordance with their own procedures.
The Contracting Parties
the
completion of
these procedures. The Agreement shall enter
into force on the first day of the second month following the
last notification.

shall notify each other of

2.
Subject to the fulfilment of its constitutional requirements
concerning entering into international agreements and without
prejudice to Article 17, San Marino shall effectively implement
and apply this Agreement as from 1 July 2005 and notify the
Community thereof.

This Agreement shall remain in force until terminated by

3.
a Contracting Party.

4.
Either Contracting Party may terminate this Agreement by
giving notice to the other. In such a case, the Agreement shall
cease to have effect twelve months after the serving of notice.

Article 17

Application and suspension of application

1.
The application of this Agreement shall be conditional on
the adoption and implementation by the dependent or asso-
ciated territories of
the Member States mentioned in the
report of the Council (Economic and Financial Affairs) to the
European Council of Santa Maria da Feira of 19 and 20 June
2000, as well as by the United States of America, the Swiss
Confederation, Andorra, Liechtenstein, and Monaco,
respec-
tively, of measures which conform with or are equivalent to
those contained in the Directive or in this Agreement.

The Contracting Parties shall decide, by common accord,
2.
at least six months before the date referred to in Article 16(2),
whether the condition set out in the above paragraph will be
met having regard to the dates of entry into force of
the
relevant measures in the third States and dependent or asso-
ciated territories concerned. If the Contracting Parties do not
decide that the condition will be met, they shall, by common
accord, adopt a new date for the purposes of Article 16(2).

The application of this Agreement or parts thereof may be
3.
suspended by either Contracting Party with immediate effect
through notification to the other should the Directive or part
of the Directive cease to be applicable either temporarily or
permanently in accordance with Community law or in the
event that a Member State should suspend the application of
its implementing legislation.

4.
Either Contracting Party may suspend the application of
this Agreement through notification to the other in the event

territories

the third States or

referred to in
that one of
paragraph 1 should subsequently cease to apply the measures
referred to in that paragraph. Suspension of application shall
take place no earlier than two months after notification. Appli-
cation of this Agreement shall resume as soon as the measures
are reinstated.

Article 18

Claims and final settlement

1.
Should this Agreement be terminated or its application be
suspended either in full or in part, the claims of individuals in
accordance with Article 10 shall remain unaffected.

2.
San Marino will, in such case, establish a final account by
the end of the period of applicability of this Agreement and
make a final payment to the Member States.

Article 19

Territorial scope

This Agreement shall apply, on the one hand, to the territories
in which the Treaty establishing the European Community is
applied and under the conditions laid down in that Treaty and,
on the other hand, to the territory of San Marino.

Article 20

Annexes

The Annexes

1.
Agreement.

shall

form an integral part of

this

2.
The list of competent authorities in Annex I may be
amended simply by notification of the other Contracting Party
by San Marino for the authority referred to in (a) therein, and
by the Community for the other authorities.

The list of related entities in Annex II may be amended by
mutual agreement.

Article 21

Languages

1.
This Agreement shall be drawn in duplicate in Czech,
Danish, Dutch, English, Estonian, Finnish, French, German,
Greek, Hungarian,
Polish,
Portuguese, Slovak, Slovenian, Spanish and Swedish, each of
these texts being equally authentic.

Lithuanian,

Latvian,

Italian,

2.
The Maltese language version shall be authenticated by the
Contracting Parties on the basis of an Exchange of Letters. It
shall also be authentic,
in the same way as for the language
versions referred to in paragraph 1.

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EN FE DE LO CUAL, los plenipotenciarios abajo firmantes suscriben el presente Acuerdo.
NA DŮKAZ ČEHOŽ připojili níže podepsaní zplnomocnění zástupci k této smlouvě své podpisy.
TIL BEKRÆFTELSE HERAF har undertegnede befuldmægtigede underskrevet denne aftale.
ZU URKUND DESSEN haben die unterzeichneten Bevollmächtigten ihre Unterschriften unter dieses
Abkommen gesetzt.
SELLE KINNITUSEKS on täievolilised esindajad käesolevale lepingule alla kirjutanud.
ΣΕ ΠΙΣΤΩΣΗ ΤΩΝ ΑΝΩΤΕΡΩ, οι υπογράφοντες πληρεξούσιοι έθεσαν την υπογραφή τους κάτω από την παρούσα
συμφωνία.
IN WITNESS WHEREOF, the undersigned Plenipotentiaries have hereunto set their hands.
EN FOI DE QUOI, les plénipotentiaires soussignés ont apposé leurs signatures au bas du présent accord.
IN FEDE DI CHE, i plenipotenziari sottoscritti hanno apposto la propria firma in calce al presente accordo.
TO APLIECINOT, attiecīgi pilnvarotas personas ir parakstījušas šo nolīgumu.
TAI PALIUDYDAMI, šį Susitarimą pasirašė toliau nurodyti įgaliotieji atstovai.
FENTIEK HITELÉÜL e megállapodást az alulírott meghatalmazottak alább kézjegyükkel látták el.
B'XIEHDA TA' DAN, il-Plenipotenzjari hawn taħt iffirmati ffirmaw dan il-Ftehim.
TEN BLIJKE WAARVAN de ondergetekende gevolmachtigden hun handtekening onder deze overeenkomst
hebben geplaatst.
W DOWÓD CZEGO, niżej podpisani pełnomocnicy złożyli swoje podpisy.
EM FÉ DO QUE, os plenipotenciários abaixo assinados apuserem as suas assinaturas no final do presente
Acordo.
NA DÔKAZ ČOHO dolupodpísaní splnomocnení zástupcovia podpísali túto dohodu.
V POTRDITEV TEGA so spodaj podpisani pooblaščenci podpisali ta sporazum.
TÄMÄN VAKUUDEKSI allamainitut täysivaltaiset edustajat ovat allekirjoittaneet tämän sopimuksen.
TILL BEVIS HÄRPÅ har undertecknade befullmäktigade undertecknat detta avtal.

Hecho en Bruselas, el siete de diciembre del dos mil cuatro.
V Bruselu dne sedmého prosince dva tisíce čtyři.
Udfærdiget i Bruxelles den syvende december to tusind og fire.
Geschehen zu Brüssel am siebten Dezember zweitausendundvier.
Kahe tuhande neljanda aasta detsembrikuu seitsmendal päeval Brüsselis.
Έγινε στις Βρυξέλλες, στις εφτά Δεκεμβρίου δύο χιλιάδες τέσσερα.
Done at Brussels on the seventh day of December in the year two thousand and four.
Fait à Bruxelles, le sept décembre deux mille quatre.
Fatto a Bruxelles, addì sette dicembre duemilaquattro.
Briselē, divi tūkstoši ceturtā gada septītajā decembrī.
Pasirašyta du tūkstančiai ketvirtų metų gruodžio septintą dieną Briuselyje.
Kelt Brüsszelben, a kettőezer negyedik év december hetedik napján.
Magħmul fi Brussel fis-seba' jum ta' Diċembru tas-sena elfejn u erbgħa.
Gedaan te Brussel, de zevende december tweeduizendvier.
Sporządzono w Brukseli dnia siódmego grudnia roku dwutysięcznego czwartego.
Feito em Bruxelas, em sete de Dezembro de dois mil e quatro.
V Bruseli siedmeho decembra dvetisícštyri.
V Bruslju, dne sedmega decembra leta dva tisoč štiri.
Tehty Brysselissä seitsemäntenä päivänä joulukuuta vuonna kaksituhattaneljä.
Som skedde i Bryssel den sjunde december tjugohundrafyra.

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Por la Comunidad Europea
Za Evropské společenství
For Det Europæiske Fællesskab
Für die Europäische Gemeinschaft
Euroopa Ühenduse nimel
Για την Ευρωπαϊκή Κοινότητα

For the European Community
Pour la Communauté européenne
Per la Comunità europea
Eiropas Kopienas vārdā
Europos bendrijos vardu
az Európai Közösség részéről
Għall-Komunità Ewropea
Voor de Europese Gemeenschap
W imieniu Wspólnoty Europejskiej
Pela Comunidade Europeia
Za Európske spoločenstvo
za Evropsko skupnost
Euroopan yhteisön puolesta
På Europeiska gemenskapens vägnar

Per la Repubblica di San Marino

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Official Journal of the European Union

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ANNEX I

LIST OF COMPETENT AUTHORITIES OF THE CONTRACTING PARTIES

The competent authorities for the purposes of this Agreement are:

(a)

in the Republic of San Marino: Il Segretario di Stato per le Finanze e il Bilancio or an authorised representative;

(b)

in the Kingdom of Belgium: De Minister van Financiën/Le Ministre des Finances or an authorised representative;

(c)

in the Czech Republic: Ministr financí or an authorised representative;

(d)

in the Kingdom of Denmark: Skatteministeren or an authorised representative;

(e)

in the Federal Republic of Germany: Der Bundesminister der Finanzen or an authorised representative;

(f)

in Republic of Estonia: Rahandusminister or an authorised representative;

(g)

in the Hellenic Republic: Ο Υπουργός Οικονομίας και Οικονομικών or an authorised representative;

(h)

in the Kingdom of Spain: El Ministro de Economía y Hacienda or an authorised representative;

(i)

(j)

in the French Republic: Le Ministre chargé du budget or an authorised representative;

in Ireland: The Revenue Commissioners or their authorised representative;

(k)

in the Italian Republic: Il Capo del Dipartimento per le Politiche Fiscali or an authorised representative;

(l)

in the Republic of Cyprus: Υπουργός Οικονομικών or an authorised representative;

(m) in the Republic of Latvia: Finanšu ministrs or an authorised representative;

(n)

in the Republic of Lithuania: Finansų ministras or an authorised representative;

(o)

in the Grand Duchy of Luxembourg: Le Ministre des Finances or an authorised representative; however for the
purposes of Article 13 the competent authority shall be ‘le Procureur Général d'Etat luxemburgeois’;

(p)

in the Republic of Hungary: A pénzügyminiszter or an authorised representative;

(q)

in the Republic of Malta: Il-Ministru responsabbli għall-Finanzi or an authorised representative;

(r)

in the Kingdom of the Netherlands: De Minister van Financiën or an authorised representative;

(s)

in the Republic of Austria: Der Bundesminister für Finanzen or an authorised representative;

(t)

in the Republic of Poland: Minister Finansów or an authorised representative;

(u)

in the Portuguese Republic: O Ministro das Finanças or an authorised representative;

(v)

in the Republic of Slovenia: Minister za finance or an authorised representative;

(w)

in the Slovak Republic: Minister financií or an authorised representative;

(x)

in the Republic of Finland: Valtiovarainministeriö/Finansministeriet or an authorised representative;

(y)

in the Kingdom of Sweden: Chefen för Finansdepartementet or an authorised representative;

(z)

in the United Kingdom of Great Britain and Northern Ireland and in the European territories for whose external
relations the United Kingdom is responsible: the Commissioners of Inland Revenue or their authorised representative
and the competent authority in Gibraltar, which the United Kingdom will designate in accordance with the Agreed
Arrangements relating to Gibraltar authorities in the context of EU and EC instruments and related treaties notified to
the Member States and institutions of the European Union of 19 April 2000, a copy of which shall be notified to the
Republic of San Marino by the Secretary-General of the Council of the European Union, and which shall apply to this
Agreement.

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ANNEX II

LIST OF RELATED ENTITIES

For the purposes of Article 11 of this Agreement, the following entities will be considered to be a ‘related entity acting as a
public authority or whose role is recognised by an international treaty’:

ENTITIES WITHIN THE EUROPEAN UNION:

Belgium

— Vlaams Gewest (Flemish Region)'

— Région wallonne (Walloon Region)

— Région bruxelloise/Brussels Gewest (Brussels Region) Communauté française (French Community)

— Vlaamse Gemeenschap (Flemish Community)

— Deutschsprachige Gemeinschaft (German-speaking Community)

Spain

— Xunta de Galicia (Regional Executive of Galicia)

— Junta de Andalucía (Regional Executive of Andalusia)

— Junta de Extremadura (Regional Executive of Extremadura)

— Junta de Castilla-La Mancha (Regional Executive of Castilla-La Mancha)

— Junta de Castilla-León (Regional Executive of Castilla-León)

— Gobierno Foral de Navarra (Regional Government of Navarre)

— Govern de les Illes Balears (Government of the Balearic Islands)

— Generalitat de Catalunya (Autonomous Government of Catalonia)

— Generalitat de Valencia (Autonomous Government of Valencia)

— Diputación General de Aragón (Regional Council of Aragon)

— Gobierno de las Islas Canarias (Government of the Canary Islands)

— Gobierno de Murcia (Government of Murcia)

— Gobierno de Madrid (Government of Madrid)

— Gobierno de la Comunidad Autónoma del País Vasco/Euzkadi (Government of the Autonomous Community of the

Basque Country)

— Diputación Foral de Guipúzcoa (Regional Council of Guipúzcoa)

— Diputación Foral de Vizcaya/Bizkaia (Regional Council of Vizcaya)

— Diputación Foral de Alava (Regional Council of Alava)

— Ayuntamiento de Madrid (City Council of Madrid)

— Ayuntamiento de Barcelona (City Council of Barcelona)

— Cabildo Insular de Gran Canaria (Island Council of Gran Canaria)

— Cabildo Insular de Tenerife (Island Council of Tenerife)

— Instituto de Crédito Oficial (Public Credit Institution)

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— Instituto Catalán de Finanzas (Finance Institution of Catalonia)

— Instituto Valenciano de Finanzas (Finance Institution of Valencia)

Greece

— Оργανισμός Тηλεπικοινωνιών Ελλάδος (National Telecommunications Organisation)

— Оργανισμός Σιδηροδρόμων Ελλάδος (National Railways Organisation)

— ημόσια Επιχείρηση Ηλεκτρισμού (Public Electricity Company)

France

— La Caisse d'amortissement de la dette sociale (CADES)(Social Debt Redemption Fund)

— L'Agence française de développement (AFD)(French Development Agency)

— Réseau Ferré de France (RFF)(French Rail Network)

— Caisse Nationale des Autoroutes (CNA)(National Motorways Fund)

— Assistance publique Hôpitaux de Paris (APHP)(Paris Hospitals Public Assistance)

— Charbonnages de France (CDF)(French Coal Board)

— Entreprise minière et chimique (EMC)(Mining and Chemicals Company)

Italy

— Regions

— Provinces

— Municipalities

— Cassa Depositi e Prestiti (Deposits and Loans Fund)

Latvia

— Pašvaldības (Local governments)

Poland

— gminy (communes)

— powiaty (districts)

— województwa (provinces)

— związki gmin (associations of communes)

— związki powiatów (association of districts)

— związki województw (association of provinces)

— miasto stołeczne Warszawa (capital city of Warsaw)

— Agencja Restrukturyzacji i Modernizacji Rolnictwa (Agency for Restructuring and Modernisation of Agriculture)

— Agencja Nieruchomości Rolnych (Agricultural Property Agency)

Portugal

— Região Autónoma da Madeira (Autonomous Region of Madeira)

— Região Autónoma dos Açores (Autonomous Region of Azores)

— Municipalities

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Slovakia
— mestá a obce (municipalities)
— Železnice Slovenskej republiky (Slovak Railway Company)
— Štátny fond cestného hospodárstva (State Road Management Fund)
— Slovenské elektrárne (Slovak Power Plants)
— Vodohospodárska výstavba (Water Economy Building Company)

INTERNATIONAL ENTITIES:
— European Bank for Reconstruction and Development
— European Investment Bank
— Asian Development Bank
— African Development Bank
— World Bank/IBRD/IMF
— International Finance Corporation
— Inter-American Development Bank
— Council of Europe Social Development Fund
— Euratom
— European Community
— Corporación Andina de Fomento (CAF) (Andean Development Corporation)
— Eurofima
— European Coal & Steel Community
— Nordic Investment Bank
— Caribbean Development Bank

The provisions of Article 11 are without prejudice to any international obligations that the Contracting Parties may have
entered into with respect to the abovementioned international entities.

ENTITIES IN THIRD COUNTRIES:

The entities that meet the following criteria:

1. the entity is clearly considered to be a public entity according to the national criteria;

2. such public entity is a non-market producer which administers and finances a group of activities, principally providing
non-market goods and services, intended for the benefit of the community and which are effectively controlled by
general government;

3. such public entity is a large and regular issuer of debt;

4. the State concerned is able to guarantee that such public entity will not exercise early redemption in the event of

gross-up clauses.