With reference to Article. 3
a) In accordance with its laws and regulations, each Contracting Party will guarantee to the citizens of the other Contracting Party who are in its territory in connection with an investment under this Agreement, of the working conditions appropriate to the performance of their professional activities.
b) In accordance with its own laws and regulations, each Contracting Party shall regulate in the most favorable way possible the problems concerning the entry, stay, work and movements on its territory of the farmers of the other Contracting Party, and their family members, engaged in investment-related activities under this Agreement.
c) Companies legally established in accordance with the laws or regulations in force in one of the Parties, and which are owned by the other Party or controlled by the latter, have the right to employ, at their choice, high level management personnel , regardless of the nationality of the latter, in accordance with the legislation of the host Contracting Party.
With reference to Article. 9
a) The Arbitral Tribunal shall be composed of three arbitrators. If they are not citizens of the Contracting Parties, they must be citizens of States having diplomatic relations with both Contracting Parties. The President of the Arbitration Institute of the Stockholm Chamber will proceed, in its capacity as Appointment Authority, to the nominations of the arbitrators. The place of arbitration shall be Stockholm, unless otherwise agreed between the Parties concerned;
b) The decision of the Arbitral Tribunal shall in any case take into account the provisions contained in this Agreement and the principles of recognized international law of the two Contracting Parties. The recognition and execution of the arbitration decision in the territory of the Contracting Parties shall be governed by the respective national legislation in accordance with the relevant international Conventions, of which they are parties.
With reference to Article. 24, paragraph 2
With reference to Article. 23,
(a) from producing or selling goods or merchandise, rendering engineering services, or doing banking or insurance business, within Singapore, or
(b) from dividends paid by one or more companies, being residents of Singapore, more than 25 per cent of the capital of which is owned by the first-mentioned company, which themselves derive their receipts exclusively or almost exclusively from producing or selling goods and merchandise, rendering engineering services, or doing banking or insurance business, within Singapore.
With reference to Article. 22: Notwithstanding the provisions of paragraph 1, income of a resident of a Contracting State in the form of winnings from gaming, arising in the other Contracting State, may also be taxed in that other State.
With reference to Article. 1:
(a) in respect of Article 1, the Agreement applies to persons who are residents of either or both of the Contracting States;
(b) Article 1 shall not be interpreted to extend the scope of the Agreement to a permanent establishment or fixed base which is located in a State other than Papua New Guinea or Singapore.
With reference to Article. 24:
(a) Stateless persons who are residents of a Contracting State shall not be subjected in either Contracting State to any taxation or any requirement connected therewith which is other or more burdensome than the taxation and connected requirements to which nationals of the State concerned in the same circumstances, in particular with respect to residence, are or may be subjected.
(b) For the purposes of paragraph 4, it is understood that, for the purposes of allowing deduction of a payment of expenses to a non-resident, nothing in the said paragraph shall be construed as preventing a Contracting State from imposing any obligation to withholding tax from such payments.
With reference to Article. 2
a) A Contracting Party (or its Agencies or its Representatives) may enter into an investment agreement with investors of the other Contracting Party, making investments of national interest in the territory of the Contracting Parties, which will govern the specific legal relationship investment concerned.
b) None of the Contracting Parties shall provide any conditions for the initiation, development or continuation of investments which may result in the hiring or imposition of limits on the sale of production on national and international markets, or which specify that the goods they must be procured locally, or other similar conditions.
c) Each Contracting Party will provide effective means to assert claims and assert their rights in relation to investments and investment agreements.
d) Citizens of each Contracting Party authorized to work in the territory of the other Contracting Party in connection with an investment pursuant to this Agreement shall be entitled to adequate working conditions for the performance of their professional activities, in accordance with the legislation of the host Contracting Party.
e) In accordance with its own laws and regulations, each Contracting Party will regulate as far as possible favorably the problems related to entry, stay, work and travel on its territory of the citizens of the other Contracting Party and of the members of their families who carry out activities connected with the investments referred to in this Agreement.
f) To juridical persons constituted under the laws or regulations in force of one of the two Contracting Parties, which are owned or controlled by the other Contracting Party, will be allowed to employ managerial personnel of their choice, regardless of nationality, in accordance with the legislation of the host Contracting Party.
With reference to Article. 7
a) In the Contracting State in which the permanent establishment is situated, no profits shall be attributed to a building site, a construction, assembly or installation project except those which are the result of such activities themselves. Profits derived from the supply of goods connected with, or independent of, such activities and effected by the principal permanent establishment or any other permanent establishment of the enterprise or by a third party shall not be attributed to the building site, a construction, assembly or installation project.
b) Income derived from design, planning, engineering or research or from technical services which a resident of a Contracting State performs in that Contracting State and which are connected with a permanent establishment referred to in sub-paragraph a) in the other Contracting State shall not be attributed to that permanent establishment.
With reference to Article. 11
a) It is understood that, in the case of Brazil, interest paid as “interest on the company’s equity” (“juros sobre o capital próprio” in Portuguese) in accordance with the Brazilian law is also considered interest for the purposes of paragraph 3 of Article 11.
b) It is understood that the provisions of paragraph 4 of Article 11 shall apply to interest paid to an agency (including a financial institution) wholly owned by the Government of a Contracting State or by a political subdivision thereof only when such interest is received by the agency in connection with its functions of public nature.
c) It is understood that the term “Government” in paragraph 4 of Article 11:
(i) in the case of Brazil, means the Government of the Federative Republic of Brazil and shall include:
a) the Central Bank of Brazil;
b) the Sovereign Fund of Brazil (“Fundo Xxxxxxxx do Brasil”, in Portuguese); and
c) a statutory body or any institution wholly owned by the Government of the Federative Republic of Brazil as may be agreed from time to time between the competent authorities of the Contracting States;
(ii) in the case of Singapore, means the Government of the Republic of Singapore and shall include:
a) the Monetary Authority of Singapore;
b) GIC Private Limited;
c) a statutory body; and
d) any institution wholly owned by the Government of the Republic of Singapore as may be agreed from time to time between the competent authorities of the Contracting States.
d) If, after the date of signature of this Agreement, Brazil agrees, in an Agreement with any other State, excluding any State in Latin America, to rates that are lower (including any exemption) than the ones provided in Article 11, then such rates shall, for the purposes of this Agreement, automatically be applicable under the same terms, from the time and for as long as such rates are applicable in that other Agreement.
