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898P Arrangements with third countries and dependent and associated territories of Member States.

(1) This Chapter shall apply for the purposes of implementing any arrangements made with a territory being a dependent or associated territory of a Member State (in this Chapter referred to as the “arrangements”) in relation to the automatic exchange of information and the application of a withholding tax referred to in paragraph 2(ii) of Article 17 of the Directive.

(2) (a) In this subsection—

“Council Decision on signing of agreement with Andorra” means Council Decision (2004/828/EC) of 2 November 2004 concerning the signature of the Agreement between the European Community and the Principality of Andorra 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 and the approval and signature of the accompanying Memorandum of Understanding¹;

“Council Decision on signing of agreement with Liechtenstein” means Council Decision (2004/897/EC) of 29 November 2004 on the signing of the Agreement between the European Community and the Principality of Liechtenstein 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 and the approval and signing of the accompanying Memorandum of Understanding²;

“Council Decision on signing of agreement with Monaco” means Council Decision (2005/35/EC) of 7 December 2004 on the signing of the Agreement between the European Community and the Principality of Monaco 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 and the approval and signing of the accompanying Memorandum of Understanding³;

“Council Decision on signing of agreement with San Marino” means Council Decision (2004/903/EC) of 29 November 2004 on the signing of the Agreement between the European Community and 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 and the approval and signing of the accompanying Memorandum of Understanding⁴;

“Council Decision on signing and conclusion of agreement with the Swiss Confederation” means Council Decision (2004/911/EC) of 2 June 2004 on the signing and conclusion of the Agreement between the European Community and the Swiss Confederation 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 and the accompanying Memorandum of Understanding⁵.

(b) (i) Article 12 (Exchange of information on request) of the agreement attached to the Council Decision on signing of agreement with Andorra,

(ii) Article 10 (Exchange of information) of the agreement attached to the Council Decision on signing of agreement with Liechtenstein,

(iii) Article 12 (Transmission of information on request) of the agreement attached to the Council Decision on signing of agreement with Monaco,

(iv) Article 13 (Exchange of information on request) of the agreement attached to the Council Decision on signing of agreement with San Marino, and

(v) Article 10 (Exchange of information) of the agreement attached to the Council Decision on signing and conclusion of agreement with the Swiss Confederation,

shall, notwithstanding any other enactment, have the force of law.

(c) Section 898M shall apply for the purposes of implementing—

(i) Article 10 (Elimination of double taxation) of the agreement attached to the Council Decision on signing of agreement with Andorra,

(ii) Article 9 (Elimination of double taxation) of the agreement attached to the Council Decision on signing of agreement with Liechtenstein,

(iii) Article 10 (Elimination of double taxation and/or repayment of withholding tax) of the agreement attached to the Council Decision on signing of agreement with Monaco,

(iv) Article 10 (Elimination of double taxation) of the agreement attached to the Council Decision on signing of agreement with San Marino, and

(v) Article 9 (Elimination of double taxation) of the agreement attached to the Council Decision on signing and conclusion of agreement with the Swiss Confederation,

in the same way as it applies for the purposes of the Directive or the arrangements, and references in that section to tax deducted from an interest payment in a relevant territory under provisions applicable in such territory in accordance with the Directive or the arrangements shall be construed as references to—

(I) in the case of Liechtenstein or the Swiss Confederation, as the case may be, a retention from an interest payment under provisions applicable in that country in accordance with the agreement, and

(II) in the case of Andorra, Monaco or San Marino, as the case may be, tax withheld from an interest payment under provisions applicable in that country in accordance with the agreement,

and references to tax deducted and cognate expressions shall be construed accordingly.

(d) (i) The Revenue Commissioners may make regulations generally for the purposes of implementing the provisions of any arrangements the Government may make with the Government of any of the countries referred to in article 17(2)(i) of the Directive for the purposes of supplementing paragraph (b).

(ii) For the purposes of subparagraph (i), arrangements made with the head of a State shall be regarded as made with the Government of that State.

(e) Section 898L shall apply for the purposes of Article 9 (Voluntary disclosure) of the agreement attached to the Council Decision on signing of agreement with Andorra in the same way as it applies for the purposes of the Directive.

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