INCOME OF GOVERNMENT AND INSTITUTIONS. 1. The Government of one of the Contracting States shall be exempt from tax in the other Contracting State in respect of any income derived by such Government from that other Contracting State.
INCOME OF GOVERNMENT AND INSTITUTIONS. 1[1. Notwithstanding the provisions of Article 13, the Government of one Contracting State shall be exempt from tax, including capital gains tax, in the other Contracting State in respect of any income derived by such Government from that other Contracting State.]
INCOME OF GOVERNMENT AND INSTITUTIONS. 1. Notwithstanding the provisions of Articles 10 and 11, dividends paid by a company that is a resident of a Contracting State, and interest that arises in that State and that is paid by a company that is a resident of that State, to a resident of the other Contracting State that is referred to in paragraph 3 of article 4 and that is the beneficial owner of the dividends or interest, as the case may be, shall be taxable only in the other Contracting State provided that:
INCOME OF GOVERNMENT AND INSTITUTIONS. Notwithstanding any other provisions of this Agreement except Article 3, any income derived by the federal or the local Governments and their financial institutions of one of the Contracting States shall be exempt from tax in the other Contracting State in respect of dividends, interest or capital gains and income derived from immovable property derived by such federal or local Government.
INCOME OF GOVERNMENT AND INSTITUTIONS. The Federal or the Local Governments and their financial institutions of either Contracting States shall be exempt from tax in the other Contracting State in respect of any income or capital gains derived by such federal or Local Government from that other Contracting State except income from hydrocarbon as stated in Article 22. For the purpose of paragraph 1 of this Article, the entities listed below qualify for the exemptions from tax on income and gains derived from dividends, interest, royalties and capital gains: In the case of the United Arab Emirates: Central Bank of the United Arab Emirates; Abu Dhabi Investment Authority; Abu Dhabi Investment Council; Emirates Investment Authority; Mubadala Investment Company; Mubadala Development Company and its successors and assigns; International Petroleum Investment Company (IPIC) and its successors and assigns; Investment Corporation of Dubai; the Abu Dhabi Retirement Pensions and Benefits Fund; the General Pension and Social Security Authority; and any other entity the capital of which is directly or indirectly wholly owned by the federal or local Governments of the United Arab Emirates, including a political subdivision and local authority thereof through notifications by the competent authorities through diplomatic channels.
