CELEX: 22004A1228(02)
Language: en
Date: 2004-12-07 00:00:00
Title: 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

28.12.2004             EN                          Official Journal of the European Union                                         L 381/33
                                                                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
                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                                    2.     Where a paying agent has information suggesting that the
                                                                           individual who receives an interest payment or for whom an
                                Aim                                        interest payment is secured may not be the beneficial owner,
                                                                           and where neither paragraph 1(a) nor 1(b) applies to that indi-
1.     The purpose of this Agreement between the Community                 vidual, that agent shall take reasonable steps to establish the
and San Marino is to consolidate and extend the existing close             identity of the beneficial owner in accordance with Article 3. If
relations between the two Contracting Parties by establishing              the paying agent is unable to identify the beneficial owner, that
measures equivalent to those laid down in the Council                      agent shall treat the individual in question as the beneficial
Directive 2003/48/EC of 3 June 2003 on taxation of savings                 owner.
income in the form of interest payments made to beneficial
owners, individuals, resident for tax purposes in a Member
State of the European Community, hereinafter referred to as
the Directive.                                                                                           Article 3
                                                                                    Identity and residence of beneficial owners
2.     San Marino shall take the necessary measures and speci-
                                                                           In order to establish the identity and residence of the beneficial
fically provide for provisions on procedures and penalties, to
                                                                           owner as defined in Article 2, the paying agent shall keep a
ensure that the tasks necessary for the implementation of this
                                                                           record of the family name, the first name and the data
Agreement are carried out by paying agents established within
                                                                           concerning the address and residence status in accordance
its territory, irrespective of the place of establishment of the
                                                                           with the Republic of San Marino Law against usury and
debtor of the debt-claim producing the interest.
                                                                           money-laundering. For contractual relations entered into, or
                                                                           transactions carried out in the absence of contractual
                              Article 2                                    relations, on or after 1 January 2004, for individuals presenting
                                                                           a passport or official identity card issued by a Member State of
                  Definition of beneficial owner                           the European Union, hereinafter referred to as ‘Member State’,
                                                                           who declare themselves to be resident in a State other than a
1.     For the purposes of this Agreement, ‘beneficial owner’              Member State or San Marino, residence shall be established by
shall mean any individual who receives an interest payment                 means of a tax residence certificate issued by the competent
or any individual for whom an interest payment is secured,                 authority of the State in which the individual claims to be
unless such individual provides evidence that it was not                   resident. Failing the presentation of such a certificate, the
received or secured for his or her own benefit, that is to say             Member State which issued the passport or other official
that:                                                                      identity document shall be considered the State of residence.
(a) he or she acts as a paying agent within the meaning of
     Article 4, or                                                                                       Article 4
                                                                                              Definition of paying agent
(b) he or she acts on behalf of a legal person, an investment
     fund or a comparable or equivalent body for common                    For the purposes of this Agreement, ‘paying agent’ in San
     investments in securities, or                                         Marino shall mean banks under San Marino banking law, as
                                                                           well as economic operators including natural and legal persons
                                                                           resident or established in San Marino, partnerships and
(c) he or she acts on behalf of another individual who is the              permanent establishments of foreign companies, which, even
     beneficial owner and discloses to the paying agent the                occasionally, accept, hold, invest or transfer assets of third
     identity of that beneficial owner in accordance with                  parties or merely pay or secure interests in the course of their
     Article 3.                                                            business.
 ---pagebreak--- L 381/34                EN                            Official Journal of the European Union                                          28.12.2004
                               Article 5                                                established within the territories referred to in Article
                                                                                        19,
                Definition of competent authority
1.      For the purposes of this Agreement the ‘competent autho-                   (ii) an entity domiciled in a Member State, which exercises
rities of the Contracting Parties’ shall mean those listed in                           the option under Article 4(3), of the Directive and
Annex I.                                                                                informs the paying agent of this fact,
2.      The ‘competent authorities of States not included in the                  (iii) undertakings for collective investment or comparable or
Contracting Parties’ shall mean those authorities of such States                        equivalent bodies for common investment in securities
which are competent for the purposes of bilateral or multilateral                       established outside the territories referred to in Article
conventions, or, failing that, which are competent to issue certi-                      19.
ficates of residence for tax purposes.
                                                                              However, San Marino shall have the option of including income
                               Article 6                                      mentioned under (d) in the definition of interest only to the
                                                                              extent that such income corresponds to gains directly or
                   Definition of interest payment                             indirectly deriving from interest payments within the meaning
                                                                              of (a) and (b).
1.      For the purposes of this Agreement, ‘interest payment’
means:
                                                                              2.     As regards paragraphs 1(c) and (d), when a paying agent
                                                                              has no information concerning the proportion of the income
(a) interest paid, or credited to an account, relating to debt-               which derives from interest payments, the total amount of the
     claims of every kind, whether or not secured by mortgage                 income shall be considered an interest payment.
     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                3.     As regards paragraph 1(d), when a paying agent has no
     premiums and prizes attaching to such securities, bonds or               information concerning the percentage of the assets invested in
     debentures; penalty charges for late payments shall not be               debt-claims or in shares or units as defined in that paragraph,
     regarded as interest payments;                                           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
(b) interest accrued or capitalised at the sale, refund or                    to the proceeds of the sale, refund or redemption of the shares
     redemption of the debt-claims referred to in (a);                        or units.
(c) income deriving from interest payments either directly or                 4.     As regards paragraphs 1(b) and (d), San Marino shall have
     through an entity referred to in Article 4(2) of the Directive,          the option of requiring paying agents in its territory to
     distributed by:                                                          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
       (i) undertakings for collective investment or comparable or            during that period.
           equivalent bodies for common investments in securities
           established within the territories referred to in Article
           19,                                                                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
      (ii) an entity domiciled in a Member State, which exercises             from undertakings or entities established within its territory
           the option under Article 4(3) of the Directive and                 where the investment in debt-claims referred to in paragraph
           informs the paying agent of this fact,                             1(a) of such entities has not exceeded 15 % of their assets.
     (iii) undertakings for collective investment or comparable or            The exercise of such option by San Marino, once notified to the
           equivalent bodies for common investment in securities              other Contracting Party, shall be binding on both Contracting
           established outside the territories referred to in Article         Parties.
           19;
                                                                              6.     The percentage referred to in paragraph 1(d) and
(d) income realised upon the sale, refund or redemption of                    paragraph 3 shall after 31 December 2010 be 25 %.
     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            7.     The percentages referred to in paragraph 1(d) and in
     40 % of their assets in debt-claims as referred to in (a):               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
       (i) undertakings for collective investment or comparable or            which, by reference to the actual composition of the assets of
           equivalent bodies for common investments in securities             the undertakings or entities concerned.
 ---pagebreak--- 28.12.2004             EN                          Official Journal of the European Union                                           L 381/35
                               Article 7                                   3.      San Marino shall take the necessary measures to ensure
                                                                           the proper functioning of the revenue sharing system.
                          Withholding tax
1.     Where the beneficial owner is resident in a Member State,                                           Article 9
San Marino shall levy a withholding tax at a rate of 15 % during
the first three years from the date of application of this                                          Voluntary disclosure
Agreement, 20 % for the subsequent three years and 35 %                    1.      San Marino shall provide for a procedure which allows the
thereafter.                                                                beneficial owner as defined in Article 2 to avoid the with-
                                                                           holding tax referred to in Article 7 by expressly authorising
2.     The paying agent shall levy withholding tax as follows:             his paying agent established in San Marino to report the
                                                                           interest payments to the competent authority of that State.
(a) in the case of an interest payment within the meaning of               Such authorisation shall cover all interest payments made to,
     Article 6(1)(a): on the amount of interest paid or credited;          or secured for the immediate benefit of, the beneficial owner by
                                                                           that paying agent.
(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           2.      The minimum amount of information to be reported by
     referred to in those paragraphs or by a levy of equivalent            the paying agent in case of express authorisation by the bene-
     effect to be borne by the recipient on the full amount of the         ficial owner shall consist of:
     proceeds of the sale, redemption or refund;
                                                                           (a) the identity and residence of the beneficial owner estab-
(c) in the case of an interest payment within the meaning of                    lished in accordance with Article 3 of this Agreement,
     Article 6(1)(c): on the amount of income referred to in that               supplemented, when available, by the tax identification
     paragraph;                                                                 number allocated by the Member State where the beneficial
                                                                                owner has his or her residence;
(d) where San Marino exercises the option under Article 6(4):
     on the amount of annualised interest.                                 (b) the name and address of the paying agent;
3.     For the purposes of paragraph 2(a) and (b), withholding
                                                                           (c) the account number of the beneficial owner or, where there
tax is levied pro rata to the period of holding of the debt-claim
                                                                                is none, identification of the debt-claim giving rise to the
by the beneficial owner. When the paying agent is unable to
                                                                                interest, and
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                (d) the amount of the interest payment established in
provides evidence of the date of acquisition.                                   accordance with Article 6 of this Agreement.
4.     Taxes other than that provided for in this Agreement on             3.      The competent authority of San Marino shall commu-
the same interest payment, and in particular the withholding               nicate the information referred to in paragraph 2 to the
taxes levied by San Marino on San Marino's source interest                 competent authority of the Member State of residence of the
income, shall be credited against the amount of the withholding            beneficial owner. Such communications shall be automatic and
tax calculated in accordance with this Article.                            shall take place at least once a year, within six months
                                                                           following the end of the tax year in San Marino, for all
5.     The imposition of withholding tax by the paying agent               interest payments made during that year.
located in the Republic of San Marino shall not preclude the
Member State of residence for tax purposes of the beneficial                                              Article 10
owner from taxing the income in accordance with its domestic
law. In cases where a taxpayer declares his or her interest                                   Elimination of double taxation
income obtained from a paying agent located in San Marino
to the tax authorities in the Member State of his or her                   1.      The Member State of residence for tax purposes of the
residence, that interest income shall be subject to taxation               beneficial owner shall ensure the elimination of any double
there at the same rates as those applied to interest earned                taxation which might result from the imposition of the with-
domestically.                                                              holding tax referred to in Article 7, in accordance with the
                                                                           provisions of paragraphs 2 and 3.
                               Article 8
                                                                           2.      If interest received by a beneficial owner has been subject
                          Revenue sharing                                  to the withholding tax referred to in Article 7 in San Marino,
                                                                           the Member State of residence for tax purposes of the beneficial
1.     San Marino shall retain 25 % of its revenue from the                owner shall grant him or her a tax credit equal to the amount
withholding tax referred to in Article 7 and transfer 75 % of              of the tax withheld, in accordance with its national law. Where
the revenue to the Member State of residence of the beneficial             this amount exceeds the amount of tax due in accordance with
owner of the interest payment.                                             its national law on the total amount of the interest payment
                                                                           which has been subject to the withholding tax referred to in
2.     Such transfers shall take place in one instalment per               Article 7, the Member State of residence for tax purposes of the
Member State at the latest within a period of six months                   beneficial owner shall repay to him or her the excess amount of
following the end of the tax year of San Marino.                           tax withheld.
 ---pagebreak--- L 381/36                 EN                          Official Journal of the European Union                                        28.12.2004
3.      If, in addition to the withholding tax referred to in Article        whose role is recognised by an international Agreement (listed
7, interest received by a beneficial owner has been subject to               in Annex II to this Agreement), the entire issue of such a
any other type of withholding tax and the Member State of                    security, consisting of the original issue and any further issue
residence for tax purposes of the beneficial owner grants a                  shall be considered a debt-claim within the meaning of Article
tax credit for such withholding tax in accordance with its                   6(1)(a).
national law or double taxation conventions, such other with-
holding tax shall be credited before the procedure in paragraph
2 is applied.                                                                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
4.      The Member State of residence for tax purposes of the                issue shall be considered a debt-claim within the meaning of
beneficial owner may replace the tax credit mechanism referred               Article 6(1)(a).
to in paragraphs 2 and 3 by a refund of the withholding tax
referred to in Article 7.
                                                                             2.     This Article shall not prevent San Marino and the Member
                               Article 11                                    States from continuing to levy a tax on revenues deriving from
                                                                             the aforementioned negotiable debt-claims in paragraph 1 in
    Transitional provisions for negotiable debt securities                   accordance with their national law.
1.      From the date of application of this Agreement for as long
as at least one Member State also applies similar provisions, and                                          Article 12
until 31 December 2010 at the latest, domestic and interna-
tional bonds and other negotiable debt securities which were                 Other withholding taxes — Relationships with other
first issued before 1 March 2001 or for which the original                                               agreements
issuing prospectuses were approved before that date by the
authorities which are competent for this purpose in the                      1.     This Agreement shall not preclude the parties from
issuing State shall not be considered as debt-claims within the              levying other types of withholding tax than that referred to in
meaning of Article 6(1)(a), provided that no further issues of               this Agreement in accordance with their national laws or double
such negotiable debt securities are made on or after 1 March                 taxation conventions.
2002.
                                                                             2.     The provisions of the double taxation conventions
However, for as long as at least one Member State also applies               between San Marino and the Member States shall not prevent
provisions similar to those of Article 7 of this Agreement the               the levying of the withholding tax for which this Agreement
provisions of this Article shall continue to apply beyond 31                 provides.
December 2010 in respect of such negotiable debt securities:
                                                                                                           Article 13
— which contain gross-up and early redemption clauses, and
                                                                                          Exchange of information on request
— where the paying agent, as defined in Article 4, is estab-
                                                                             1.     The competent authorities of San Marino and of any
     lished in San Marino, and
                                                                             Member State shall exchange information on conduct consti-
                                                                             tuting tax fraud under the laws of the requested State, or the
— where that paying agent pays interest directly to, or secures              like for income covered by this Agreement. ‘The like’ only
     the payment of interest for the immediate benefit of, a                 includes offences with the same level of wrongfulness as is
     beneficial owner resident in a Member State.                            the case for tax fraud under the laws of the requested State,
                                                                             resulting in any prejudice for the taxation interests of the
                                                                             requesting State. In response to a duly justified request, the
If and when all Member States cease to apply provisions similar              requested State shall provide information with respect to the
to those of Article 7 of this Agreement, the provisions of this              conduct that the requesting State is investigating, or may inves-
Article shall continue to apply only in respect of those nego-               tigate, on a criminal or non-criminal basis.
tiable securities:
— which contain gross-up and early redemption clauses, and                   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.
— where the issuer's paying agent is established in San Marino,
     and
                                                                             3.     The requested State shall provide information where the
— where that paying agent pays interest directly to, or secures              requesting State has a reasonable suspicion that the conduct
     the payment of interest for the immediate benefit of, a                 would constitute tax fraud or the like. The requesting State's
     beneficial owner resident in a Member State.                            reasonable suspicion of tax fraud or the like may be based on:
If a further issue is made on or after 1 March 2002 of an                    (a) documents, whether authenticated or not, and including but
aforementioned negotiable debt security issued by a                               not limited to business records, books of account, or bank
Government or a related entity acting as a public authority or                    account information;
 ---pagebreak--- 28.12.2004            EN                          Official Journal of the European Union                                           L 381/37
(b) testimonial information from the taxpayer;                                                         Article 14
                                                                                                   Confidentiality
(c) information obtained from an informant or other third                 Any information received by a Contracting Party under this
    person that has been independently corroborated or is                 Agreement shall be treated as confidential and may be
    otherwise likely to be credible; or                                   disclosed only to persons or authorities (including courts and
                                                                          administrative bodies) in the jurisdiction of the Contracting
                                                                          Party concerned with the assessment or collection of, the enfor-
(d) circumstantial evidence.                                              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
4.    The competent authority of the requesting State shall               for such purposes. They may disclose the information in
provide the following elements to the competent authority of              public court proceedings or in judicial decisions. The infor-
the requested State when making a request for information                 mation may not be disclosed to any other person or entity or
under this Agreement to demonstrate the foreseeable                       authority or any other jurisdiction without the express written
relevance of the information to the request:                              consent of the competent authority of the requested Party.
(a) the identity of the person under examination or investi-
    gation;                                                                                            Article 15
                                                                                              Consultation and review
(b) a statement of the information sought including its nature            1.    If any disagreement arises between the competent
    and the form in which the requesting State wishes to receive          authority of San Marino and one or more of the other
    the information from the requested State;                             competent authorities listed in Annex I as to the interpretation
                                                                          or application of this Agreement, they shall endeavour to
                                                                          resolve this by mutual agreement. They shall immediately
(c) the tax purpose for which the information is sought;                  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
(d) grounds for believing that the information requested is held          Commission may take part in consultations at the request of
    in the requested State or is in the possession or control of a        any of the competent authorities listed in Annex I.
    person within the jurisdiction of the requested State;
                                                                          2.    The Contracting Parties shall consult each other at least
(e) to the extent known, the name and address of any person               every three years or at the request of either Contracting Party
    believed to be in possession of the requested information;            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
(f) a statement that the request is in conformity with the law            consultations shall be held within one month of the request
    and administrative practices of the requesting State, that if         or as soon as possible in urgent cases.
    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           3.    On the basis of such an assessment, the Contracting
    of administrative practice and that it is in conformity with          Parties may consult each other in order to examine whether
    this Agreement;                                                       changes to the Agreement are necessary taking into account
                                                                          international developments.
(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-          4.    As soon as sufficient experience of the full implemen-
    culties.                                                              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.
5.    The competent authority of the requested State shall
forward the requested information as promptly as possible to
the requesting State.
                                                                          5.    For the purposes of the consultations referred to in para-
                                                                          graphs 1, 2 and 3, the Contracting Parties shall inform each
6.    San Marino shall enter into bilateral negotiations with             other of possible developments which could impact on the
each of the Member States in order to define individual cate-             proper functioning of this Agreement. This shall also include
gories of cases falling under ‘the like’ in accordance with the           any relevant agreement between one of the Contracting Parties
procedure of taxation applied by those States.                            and a third State.
 ---pagebreak--- L 381/38              EN                            Official Journal of the European Union                                        28.12.2004
                             Article 16                                     that one of the third States or territories referred to in
                                                                            paragraph 1 should subsequently cease to apply the measures
           Signing, entry into force and termination                        referred to in that paragraph. Suspension of application shall
                                                                            take place no earlier than two months after notification. Appli-
1.     This Agreement requires ratification or approval by the              cation of this Agreement shall resume as soon as the measures
Contracting Parties in accordance with their own procedures.                are reinstated.
The Contracting Parties shall notify each other of the
completion of these procedures. The Agreement shall enter
                                                                                                        Article 18
into force on the first day of the second month following the
last notification.                                                                            Claims and final settlement
2.     Subject to the fulfilment of its constitutional requirements         1.    Should this Agreement be terminated or its application be
concerning entering into international agreements and without               suspended either in full or in part, the claims of individuals in
prejudice to Article 17, San Marino shall effectively implement             accordance with Article 10 shall remain unaffected.
and apply this Agreement as from 1 July 2005 and notify the
Community thereof.                                                          2.    San Marino will, in such case, establish a final account by
                                                                            the end of the period of applicability of this Agreement and
3.     This Agreement shall remain in force until terminated by             make a final payment to the Member States.
a Contracting Party.
                                                                                                        Article 19
4.     Either Contracting Party may terminate this Agreement by
giving notice to the other. In such a case, the Agreement shall                                     Territorial scope
cease to have effect twelve months after the serving of notice.
                                                                            This Agreement shall apply, on the one hand, to the territories
                             Article 17                                     in which the Treaty establishing the European Community is
                                                                            applied and under the conditions laid down in that Treaty and,
           Application and suspension of application                        on the other hand, to the territory of San Marino.
1.     The application of this Agreement shall be conditional on                                        Article 20
the adoption and implementation by the dependent or asso-
ciated territories of the Member States mentioned in the                                                Annexes
report of the Council (Economic and Financial Affairs) to the
European Council of Santa Maria da Feira of 19 and 20 June                  1.    The Annexes shall form an integral part of this
2000, as well as by the United States of America, the Swiss                 Agreement.
Confederation, Andorra, Liechtenstein, and Monaco, respec-
tively, of measures which conform with or are equivalent to                 2.    The list of competent authorities in Annex I may be
those contained in the Directive or in this Agreement.                      amended simply by notification of the other Contracting Party
                                                                            by San Marino for the authority referred to in (a) therein, and
2.     The Contracting Parties shall decide, by common accord,              by the Community for the other authorities.
at least six months before the date referred to in Article 16(2),
whether the condition set out in the above paragraph will be                The list of related entities in Annex II may be amended by
met having regard to the dates of entry into force of the                   mutual agreement.
relevant measures in the third States and dependent or asso-
ciated territories concerned. If the Contracting Parties do not                                         Article 21
decide that the condition will be met, they shall, by common
accord, adopt a new date for the purposes of Article 16(2).                                            Languages
3.     The application of this Agreement or parts thereof may be            1.    This Agreement shall be drawn in duplicate in Czech,
suspended by either Contracting Party with immediate effect                 Danish, Dutch, English, Estonian, Finnish, French, German,
through notification to the other should the Directive or part              Greek, Hungarian, Italian, Latvian, Lithuanian, Polish,
of the Directive cease to be applicable either temporarily or               Portuguese, Slovak, Slovenian, Spanish and Swedish, each of
permanently in accordance with Community law or in the                      these texts being equally authentic.
event that a Member State should suspend the application of
its implementing legislation.                                               2.    The Maltese language version shall be authenticated by the
                                                                            Contracting Parties on the basis of an Exchange of Letters. It
4.     Either Contracting Party may suspend the application of              shall also be authentic, in the same way as for the language
this Agreement through notification to the other in the event               versions referred to in paragraph 1.
 ---pagebreak--- 28.12.2004         EN                           Official Journal of the European Union                                 L 381/39
           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.
 ---pagebreak--- L 381/40        EN                        Official Journal of the European Union 28.12.2004
         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
 ---pagebreak--- 28.12.2004         EN                             Official Journal of the European Union                                               L 381/41
                                                                    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) in the French Republic: Le Ministre chargé du budget or an authorised representative;
           (j) 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.
 ---pagebreak--- L 381/42          EN                                Official Journal of the European Union                                               28.12.2004
                                                                      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)
 ---pagebreak--- 28.12.2004          EN                           Official Journal of the European Union                                    L 381/43
           — 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
 ---pagebreak--- L 381/44          EN                             Official Journal of the European Union                                             28.12.2004
         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.