Article XX, The Income Tax (Deductions Citation

1. The taxation authorities of the High Contracting Parties shall exchange such information (being information which is at their disposal under their respective taxation laws in the normal course of administration) as is necessary for carrying out the provisions of the present Convention or for the prevention of fraud or for the administration of statutory provisions against legaL avoidance in relation to the taxes which are the subject of the present Convention. Any information so exchanged shall be treated as secret and shall not be disclosed to any persons other than those concerned with the assessment and collection of the taxes which are the subject of the present Convention. No information as aforesaid shall be exchanged which would disclose any trade, businJ:lSS, industrial or professional secret or trade process. 2. As used in this Article, the term " taxation authorities " means, in the case of the United Kingdom, the Commissioners of Inland Revenue; in the ,,I .,..•.•••. :. ,.: i Dmtble Taxation Relief (Sweden) [Cap. 273 case of Sweden, the Finance Ministry; and, in the case of any territory to which the present Convention is extended under Article XXIII, the competent authority for the administration in such territory of the taxes to which the present Convention applies. The following agreements between the United Kingdom and Sweden shall not have effect for any period for which the present Convention has effect, that is to say- (a) the agreement dated 19th December, 1924,* for the reciprocal exemption from income tax in certain cases of profits accruing from the business of shipping; (b) the agreement dated 6th July, 193I,t for the reciprocal exemption from taxes in certain cases of profits arising through agencies. 1. The nationals of one of the High Contracting Parties shall not be subjected in the territory of the other High Contracting Party to any taxation or any requirement connected therewith which .is other, higher, or more burdensome than the taxation and connected requirements to which the nationals of the latter Party are or may be subjected. 2. The enterprises of one of the territories shall not be subjected in the other territory, in respect of profits attributable to their permanent establishments in that other territory, to any taxation which is other, higher or more burdensome than the taxation to which the enterprises of that other territory are or may be subjected in respect of the like profits. 3. An individual or company being a resident of one of the territories shall not be subject to any tax on capital in the other territory which is other, higher or more burdensome than the tax on capital to which an individual or, as the case may be, a company, being a resident of that other territory is or may be subjected. 4. Nothing in paragraph 1 or paragraph 2 of this Article shall be construed as obliging one of the High Contracting Parties to grant to nationals of the other High Contracting Party who are not resident in the territory of the former Party the same personal allowances, reliefs and reductions for tax purposes as are granted to His own nationals. 5. In this Article the term" nationals" means- (a) in relation to Sweden, all Swedish subjects and all legal persons, partnerships and associations deriving their status as such from the law in force in Sweden; British protected persons residing in the United Kingdom or any British territory to which the present Conven~ion applies by reason of extension made under Article XXIII and all legal persons, partnerships and associations deriving their status as such from law in force in any British territory to which the present Convention applies. 6. In this Article the term " taxation " means taxes of every kind and Note-* "Treaty Series No. 11 (1925), " Comd. 2322. t "Treaty Series No. 31 (1931)," Comd. 3923. S.L.-VoL. VIII-33 2190 Cap. 273] Income Tax