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INCOME TAX (INTERNATIONAL AGREEMENTS) AMENDMENT ACT 1980 No. 23 of 1980 - SECT 5


5. (1) After section 11C of the Principal Act the following sections are
inserted: Agreement with the Republic of the Philippines

"11D. (1) Subject to this Act, on and after the date of entry into force of
the Philippine agreement, the provisions of the agreement, so far as those
provisions affect Australian tax, have, and shall be deemed to have had, the
force of law-

   (a)  in relation to withholding tax-in respect of dividends or interest
        derived on or after 1 January in the calendar year in which the
        agreement enters into force and in relation to which the agreement
        remains effective; and

   (b)  in relation to tax other than withholding tax-in respect of income of
        any year of income commencing on or after 1 July in the calendar year
        in which the agreement enters into force and in relation to which the
        agreement remains effective.



"(2) As soon as practicable after instruments of ratification have been
exchanged in accordance with Article 29 of the Philippine agreement, the
Treasurer shall cause to be published in the Gazette a notice specifying the
date of the exchange of instruments of ratification and the date so notified
shall, for the purposes of this Act, be conclusively presumed to be the date
of entry into force of the agreement. Agreement with the Swiss Federal Council

"11E. (1) Subject to this Act, on and after the date of entry into force of
the Swiss agreement, the provisions of the agreement, so far as those
provisions affect Australian tax, have, and shall be deemed to have had, the
force of law-

   (a)  in relation to withholding tax-in respect of dividends or interest
        derived on or after 1 January 1979 and in relation to which the
        agreement remains effective; and

   (b)  in relation to tax other than withholding tax-in respect of income of
        the year of income that commenced on 1 July 1979 and of a subsequent
        year of income in relation to which the agreement remains effective.



"(2) As soon as practicable after the date of entry into force of the Swiss
agreement in accordance with Article 27 of the agreement, the Treasurer shall
cause to be published in the Gazette a notice specifying the date on which the
agreement entered into force, and the date so notified shall, for the purposes
of this Act, be conclusively presumed to be the date of entry into force of
the agreement.".

(2) The Commissioner may amend an assessment made before the date of entry
into force of the Philippine agreement for the purpose of giving effect to
sub-section 11D (1) of the Principal Act, as amended by this Act.

(3) The provisions of the Swiss agreement shall not have the effect of
subjecting to Australian tax interest or royalties paid by a resident of
Australia to a resident of Switzerland that, but for that agreement, would not
be subject to Australian tax.

(4) The Commissioner may amend an assessment made before the date of entry
into force of the Swiss agreement for the purpose of giving effect to sub-
section 11E (1) of the Principal Act, as amended by this Act (including that
section as affected by sub-section (3) of this section). 


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