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CONVENTION BETWEEN

THE GOVERNMENT OF THE UNITED STATES OF AMERICAAND THE GOVERNMENT OF THE KINGDOM OF BELGIUM

FOR THE AVOIDANCE OF DOUBLE TAXATION AND THE

PREVENTION OF FISCAL EVASION

WITH RESPECT TO TAXES ON INCOME

The Government of the United States of America and the Government of the Kingdomof Belgium, desiring to conclude a Convention for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income, have agreed as follows

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Article 1

GENERAL SCOPE

!" This Convention shall appl# onl# to persons who are residents of one or both of the

Contracting States, except as otherwise provided in the Convention"$" %xcept as provided in subparagraph a& of paragraph ' of Article $$ ()elief from *oubleTaxation&, the Convention shall not restrict in an# manner an# benefit now or hereafteraccorded

a& b# the laws of either Contracting State+ or b& b# an# other agreement to which the Contracting States are part#"

" a& -otwithstanding the provisions of sub.paragraph b& of paragraph $ of thisArticle

i& for purposes of paragraph of Article //00 (Consultation& of theGeneral Agreement on Trade in Services, the Contracting States agree that an#1uestion arising as to the interpretation or application of this Convention and, in

particular, whether a taxation measure is within the scope of this Convention,shall be determined exclusivel# in accordance with the provisions of Article $'(2utual Agreement 3rocedure& of this Convention+ andii& the provisions of Article /400 of the General Agreement on Trade inServices shall not appl# to a taxation measure unless the competent authoritiesagree that the measure is not within the scope of Article $ (-on.*iscrimination&of this Convention"

b& 5or the purposes of this paragraph, a 6measure7 is a law, regulation, rule, procedure, decision, administrative action, or an# similar provision or action"

'" %xcept to the extent provided in paragraph 8, this Convention shall not affect thetaxation b# a Contracting State of its residents (as determined under Article ' ()esident&& and itsciti9ens" -otwithstanding the other provisions of this Convention, a former citi9en or formerlong.term resident of a Contracting State ma#, for the period of ten #ears following the loss ofsuch status, be taxed in accordance with the laws of that Contracting State"8" The provisions of paragraph ' shall not affect

a& the benefits conferred b# a Contracting State under paragraph $ of Article :(Associated %nterprises&, paragraphs ! b&, $, 8, ; and : of Article !< (3ensions, SocialSecurit#, Annuities, Alimon#, and Child Support&, and Articles $$ ()elief from *oubleTaxation&, $ (-on.*iscrimination&, and $' (2utual Agreement 3rocedure&+ and b& the benefits conferred b# a Contracting State under paragraph < of Article !<(3ensions, Social Securit#, Annuities, Alimon#, and Child Support&, Articles !=(Government Service&, !: (Students, Trainees, Teachers and )esearchers&, and $<(2embers of *iplomatic 2issions and Consular 3osts&, upon individuals who are neither

citi9ens of, nor have been admitted for permanent residence in, that State";" An item of income, profit or gain derived through an entit# that is fiscall# transparentunder the laws of either Contracting State shall be considered to be derived b# a resident of aState to the extent that the item is treated for purposes of the taxation law of such ContractingState as the income, profit or gain of a resident"

Article 2

TAXES COVERED

!" This Convention shall appl# to taxes on income imposed on behalf of a Contracting Stateirrespective of the manner in which the# are levied"$" There shall be regarded as taxes on income all taxes imposed on total income, or on

elements of income, including taxes on gains from the alienation of propert#"" The existing taxes to which this Convention shall appl# area& in the case of Belgium

i& the individual income tax+ii& the corporate income tax+iii& the income tax on legal entities+ andiv& the income tax on non.residents+including the prepa#ments and the surcharges on these taxes and prepa#ments+

b& in the case of the United Statesi& the 5ederal income taxes imposed b# the 0nternal )evenue Code (butexcluding social securit# taxes&+ andii& the 5ederal excise taxes imposed with respect to private foundations"

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'" The Convention shall appl# also to an# identical or substantiall# similar taxes that areimposed after the date of signature of the Convention in addition to, or in place of, the existingtaxes" The competent authorities of the Contracting States shall notif# each other of an# changes

that have been made in their respective taxation or other laws that significantl# affect theirobligations under this Convention"

Article

GENERAL DEFINITIONS

!" 5or the purposes of this Convention, unless the context otherwise re1uiresa& the term >person> includes an individual, an estate, a trust, a partnership, acompan#, and an# other bod# of persons+ b& the term >compan#> means an# bod# corporate or an# entit# that is treated as a bod# corporate for tax purposes according to the laws of the state in which it isorgani9ed+

c& the terms >enterprise of a Contracting State> and >enterprise of the otherContracting State> mean respectivel# an enterprise carried on b# a resident of aContracting State, and an enterprise carried on b# a resident of the other ContractingState+ the terms also include an enterprise carried on b# a resident of a Contracting Statethrough an entit# that is treated as fiscall# transparent in that Contracting State+d& the term 6enterprise7 applies to the carr#ing on of an# business+e& the term 6business7 includes the performance of professional services and ofother activities of an independent character+f& the term >international traffic> means an# transport b# a ship or aircraft, exceptwhen such transport is solel# between places in a Contracting State+g& the term >competent authorit#> means

i& in Belgium the 2inister of 5inanc e or his aut ho ri9e drepresenta t ive + andii& in the United States the Secretar# of the Treasur# or his delegate+

h& the t erm 6Belgium7 means the Kingdom of Belgium+ when usedin a geographica l sense , such t erm means the t er ri tor# of Belgiumand includes the t er ri to ri al s ea and the s eabed and subso il and thesu pe r? ac e n t wa te rs of th e a d? ac e n t su bm a ri n e ar ea s b e# on d th eterr itorial sea over which Belgium exercises sovereign rights inaccordanc e wi th internat ional law+i& the term >United States> means the United States of America, and includes thestates thereof and the *istrict of Columbia+ such term also includes the territorial seathereof and the sea bed and subsoil of the submarine areas ad?acent to that territorial sea,over which the United States exercises sovereign rights in accordance with internationallaw+ the term, however, does not include 3uerto )ico, the 4irgin 0slands, Guam or an#other United States possession or territor#+ ?& the term >national> of a Contracting State means

i& an# individual possessing the nationalit# or citi9enship of that State+ andii& an# legal person, partnership or association deriving its status as suchfrom the laws in force in that State+

@& the term 6pension fund7 means an# person established in a Contracting State thatis

i& operated principall#A& to administer or provide pension or retirement

benefits+ or B& to earn income for the benefit of one or morearrangementsdescribed in A&+ and

ii& is eitherA& in the case of Belgium, an entit# organi9ed under Belgianlaw andregulated b# the Ban@ 5inance and 0nsurance Commission+ or B& in the case of the United States, exempt from tax in theUnitedStates with respect to the activities described in clause i& of this



subparagraph"$" As regards the application of the Convention at an# time b# a Contracting State, an#term not defined therein shall, unless the context otherwise re1uires, or the competent authori.

ties agree to a common meaning pursuant to the provisions of Article $' (2utual Agreement3rocedure&, have the meaning which it has at that time under the law of that State for the purposes of the taxes to which the Convention applies, an# meaning under the applicable taxlaws of that State prevailing over a meaning given to the term under other laws of that State"

Article !

RESIDENT

!" 5or the purposes of this Convention, the term >resident of a Contracting State> meansan# person who, under the laws of that State, is liable to tax therein b# reason of his domicile,residence, citi9enship, place of management, place of incorporation, or an# other criterion of asimilar nature, and also includes that State and an# political subdivision or local authorit#

thereof" This term, however, does not include an# person who is liable to tax in that State inrespect onl# of income from sources in that State or of profits attributable to a permanentestablishment in that State"$" An individual who is a United States citi9en or an alien admitted to the United States for permanent residence (a >green card> holder& is a resident of the United States onl# if theindividual has a substantial presence, permanent home or habitual abode in the United States andif that individual is not a resident of a State other than Belgium for the purposes of a doubletaxation convention between that State and Belgium"" The term 6resident of a Contracting State7 includes

a& a pension fund established in that State+ and b& an organi9ation that is established and maintained in that State exclusivel# forreligious, charitable, scientific, artistic, cultural, or educational purposes,

notwithstanding that all or part of its income or gains ma# be exempt from tax under thedomestic law of that State"'" here, b# reason of the provisions of paragraph !, an individual is a resident of bothContracting States, then his status shall be determined as follows

a& he shall be deemed to be a resident onl# of the State in which he has a permanenthome available to him+ if he has a permanent home available to him in both States, heshall be deemed to be a resident onl# of the State with which his personal and economicrelations are closer (center of vital interests&+ b& if the State in which he has his center of vital interests cannot be determined, or ifhe does not have a permanent home available to him in either State, he shall be deemedto be a resident onl# of the State in which he has an habitual abode+

c& if he has an habitual abode in both States or in neither of them, he shall bedeemed to be a resident onl# of the State of which he is a national+d& if he is a national of both States or of neither of them, the competent authoritiesof the Contracting States shall endeavor to settle the 1uestion b# mutual agreement"

8" here b# reason of the provisions of paragraph ! a person other than an individual is aresident of both Contracting States, the competent authorities of the Contracting States shall b#mutual agreement procedure endeavor to settle the 1uestion" 0f the competent authorities do notreach such an agreement, that person shall not be entitled to claim an# benefit provided b# theConvention, except those provided b# paragraph ! of Article $$ ()elief from *ouble Taxation&, b# paragraph ! of Article $ (-on.*iscrimination& and b# Article $' (2utual Agreement 3rocedure&"

Article "PERMANENT ESTABLISHMENT

!" 5or the purposes of this Convention, the term >permanent establishment> means a fixed place of business through which the business of an enterprise is wholl# or partl# carried on"$" The term >permanent establishment> includes especiall#

a& a place of management+ b& a branch+c& an office+d& a factor#+e& a wor@shop+ andf& a mine, an oil or gas well, a 1uarr#, or an# other place of extraction of naturalresources"

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" a& A building site or construction or installation pro?ect constitutes a permanentestablishment onl# if it lasts for more than twelve months" b& An installation used for the exploration for natural resources constitutes a

permanent establishment in a Contracting State onl# if it lasts or the activit# continues inthat State for more than twelve months"

'" -otwithstanding the preceding provisions of this Article, the term >permanentestablishment> shall be deemed not to include

a& the use of facilities solel# for the purpose of storage, displa# or deliver# of goodsor merchandise belonging to the enterprise+ b& the maintenance of a stoc@ of goods or merchandise belonging to the enterprisesolel# for the purpose of storage, displa# or deliver#+c& the maintenance of a stoc@ of goods or merchandise belonging to the enterprisesolel# for the purpose of processing b# another enterprise+d& the maintenance of a fixed place of business solel# for the purpose of purchasing

goods or merchandise, or of collecting information, for the enterprise+e& the maintenance of a fixed place of business solel# for the purpose of carr#ing on,for the enterprise, an# other activit# of a preparator# or auxiliar# character+f& the maintenance of a fixed place of business solel# for an# combination of theactivities mentioned in subparagraphs a& through e&, provided that the overall activit# ofthe fixed place of business resulting from this combination is of a preparator# or auxiliar#character"

8" -otwithstanding the provisions of paragraphs ! and $, where a person .. other than anagent of an independent status to whom paragraph ; applies .. is acting on behalf of anenterprise and has and habituall# exercises in a Contracting State an authorit# to concludecontracts that are binding on the enterprise, that enterprise shall be deemed to have a permanentestablishment in that State in respect of an# activities that the person underta@es for theenterprise, unless the activities of such person are limited to those mentioned in paragraph 'that, if exercised through a fixed place of business, would not ma@e this fixed place of business a permanent establishment under the provisions of that paragraph";" An enterprise shall not be deemed to have a permanent establishment in a ContractingState merel# because it carries on business in that State through a bro@er, general commissionagent, or an# other agent of an independent status, provided that such persons are acting in theordinar# course of their business as independent agents"<" The fact that a compan# that is a resident of a Contracting State controls or is controlled b# a compan# that is a resident of the other Contracting State, or that carries on business in thatother State (whether through a permanent establishment or otherwise&, shall not be ta@en intoaccount in determining whether either compan# has a permanent establishment in that other

State"

Article #

INCOME FROM REAL PROPERT$

!" 0ncome derived b# a resident of a Contracting State from real propert#, including incomefrom agriculture or forestr#, situated in the other Contracting State ma# be taxed in that otherState"$" The term >real propert#7 shall have the meaning which it has under the law of theContracting State in which the propert# in 1uestion is situated" The te rm shal l in an #case include proper t# accessor# to r ea l proper t# (including lives toc@ ande1uipment used in agri culture and forest r#& , right s to which the provi sions

of general law respect ing landed proper t# appl#, usufruc t of r ea l proper t#and rights to vari able or fixed pa#ment s as considera tion for the wor@ingof, or the right to wor@, minera l depos it s , sources and o ther na tura lresources " Ships and a ir craft sha ll not be r egarded as r eal proper t#"" The provisions of paragraph ! shall appl# to income derived from the direct use, letting,or use in an# other form of real propert#"'" The provisions of paragraphs ! and shall also appl# to the income from real propert# ofan enterprise"8" A resident of a Contracting State who is liable to tax in the other Contracting State onincome from real propert# situated in the other Contracting State ma# elect for an# taxable #earto compute the tax on such income on a net basis as if such income were business profits

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attributable to a permanent establishment in such other State" An# such election shall be bindingfor the taxable #ear of the election and all subse1uent taxable #ears unless the competentauthorit# of the Contracting State in which the propert# is situated agrees to terminate the

election"

Article %

BUSINESS PROFITS

!" The profits of an enterprise of a Contracting State shall be taxable onl# in that Stateunless the enterprise carries on business in the other Contracting State through a permanentestablishment situated therein" 0f the enterprise carries on business as aforesaid, the profits ofthe enterprise ma# be taxed in the other State but onl# so much of them as are attributable tothat permanent establishment"$" Sub?ect to the provisions of paragraph , where an enterprise of a Contracting Statecarries on business in the other Contracting State through a permanent establishment situated

therein, there shall in each Contracting State be attributed to that permanent establishment the profits that it might be expected to ma@e if it were a distinct and independent enterprise engagedin the same or similar activities under the same or similar conditions"" 0n determining the profits of a permanent establishment, there shall be allowed asdeductions expenses that are incurred for the purposes of the permanent establishment, includingexecutive and general administrative expenses so incurred, whether in the State in which the permanent establishment is situated or elsewhere"'" -o profits shall be attributed to a permanent establishment b# reason of the mere purchase b# that permanent establishment of goods or merchandise for the enterprise"8" 5or the purposes of the preceding paragraphs, the profits to be attributed to the permanent establishment shall be determined b# the same method #ear b# #ear unless there isgood and sufficient reason to the contrar#";" here profits include items of income that are dealt with separatel# in other Articles ofthe Convention, then the provisions of those Articles shall not be affected b# the provisions ofthis Article"<" 0n appl#ing this Article, paragraph = of Article ! (*ividends&, paragraph ' of Article !!(0nterest&, paragraph of Article !$ ()o#alties&, paragraph of Article ! (Gains& and paragraph $ of Article $ (ther 0ncome&, an# income or gain attributable to a permanentestablishment during its existence is taxable in the Contracting State where such permanentestablishment is situated even if the pa#ments are deferred until such permanent establishmenthas ceased to exist"

Article &

SHIPPING AND AIR TRANSPORT!" 3rofits of an enterprise of a Contracting State from the operation of ships or aircraft ininternational traffic shall be taxable onl# in that State"$" 5or purposes of this Article, profits from the operation of ships or aircraft include, butare not limited to

a& profits from the rental of ships or aircraft on a full (time or vo#age& basis+ b& profits from the rental on a bareboat basis of ships or aircraft if the rental incomeis incidental to profits from the operation of ships or aircraft in international traffic+ andc& profits from the rental on a bareboat basis of ships or aircraft if such ships oraircraft are operated in international traffic b# the lessee"

3rofits derived b# an enterprise from the inland transport of propert# or passengers within either

Contracting State shall be treated as profits from the operation of ships or aircraft ininternational traffic if such transport is underta@en as part of international traffic"" 3rofits of an enterprise of a Contracting State from the use, maintenance, or rental ofcontainers (including trailers, barges, and related e1uipment for the transport of containers& shall be taxable onl# in that Contracting State, except to the extent that those containers or trailersand related e1uipment are used for transport solel# between places within the other ContractingState"'" The provisions of paragraphs ! and shall also appl# to profits from participation in a pool, a ?oint business, or an international operating agenc#"

Article '

ASSOCIATED ENTERPRISES

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!" herea& an enterprise of a Contracting State participates directl# or indirectl# in themanagement, control or capital of an enterprise of the other Contracting State+ or

b& the same persons participate directl# or indirectl# in the management, control, orcapital of an enterprise of a Contracting State and an enterprise of the other ContractingState,

and in either case conditions are made or imposed between the two enterprises in theircommercial or financial relations that differ from those that would be made between independententerprises, then, an# profits that, but for those conditions, would have accrued to one of theenterprises, but b# reason of those conditions have not so accrued, ma# be included in the profitsof that enterprise and taxed accordingl#"$" here a Contracting State includes in the profits of an enterprise of that State, and taxesaccordingl#, profits on which an enterprise of the other Contracting State has been charged totax in that other State, and the other Contracting State agrees that the profits so included are

profits that would have accrued to the enterprise of the first.mentioned State if the conditionsmade between the two enterprises had been those that would have been made betweenindependent enterprises, then that other State shall ma@e an appropriate ad?ustment to theamount of the tax charged therein on those profits" 0n determining such ad?ustment, due regardshall be had to the other provisions of this Convention and the competent authorities of theContracting States shall if necessar# consult each other"

Article 1(

DIVIDENDS

!" *ividends paid b# a compan# that is a resident of a Contracting State to a resident of theother Contracting State ma# be taxed in that other State"$" Dowever, such dividends ma# also be taxed in the Contracting State of which thecompan# pa#ing the dividends is a resident and according to the laws of that State, but if thedividends are beneficiall# owned b# a resident of the other Contracting State, except asotherwise provided, the tax so charged shall not exceed

a& 8 percent of the gross amount of the dividends if the beneficial owner is acompan# that owns directl# at least ! percent of the voting stoc@ of the compan# pa#ing the dividends+ b& !8 percent of the gross amount of the dividends in all other cases"

" -otwithstanding the provisions of paragraph $, where the compan# pa#ing the dividends

is a resident of the United States, such dividends shall not be taxed in the United States if the beneficial owner is

a& a compan# that is a resident of Belgium that has owned directl# or indirectl#shares representing = percent or more of the voting power in the compan# pa#ing thedividends for a !$.month period ending on the date on which entitlement to the dividendis determined and

i& satisfies the conditions of clause i& or ii& of subparagraph c& of paragraph $ of Article $! (Eimitation on Benefits&+ii& satisfies the conditions of clauses i& and ii& of subparagraph e&of paragraph $ of Article $!, provided that the compan# satisfies theconditions described in paragraph ' of that Article with respect to the

dividends+iii& is entitled to benefits with respect to the dividends under paragraph of Article $!+ or iv& has received a determination pursuant to paragraph < of Article $!with respect to this paragraph+ or

b& a pension fund that is a resident of Belgium, provided that such dividends are notderived from the carr#ing on of a business b# the pension fund or through an associatedenterprise"

'" -otwithstanding the provisions of paragraph $, where the compan# pa#ing the dividendsis a resident of Belgium, such dividends shall not be taxed in Belgium if the beneficial owner ofthe dividends is

a& a compan# that is a resident of the United States that has owned directl# shares

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representing at least ! percent of the capital of the compan# pa#ing the dividends for a!$.month period ending on the date the dividend is declared+ or

b& a pension fund that is a resident of the United States, provided that suchdividends are not derived from the carr#ing on of a business b# the pension fund orthrough an associated enterprise"

8" 3aragraphs $, and ' shall not affect the taxation of the compan# in respect of the profits out of which the dividends are paid";" a& Subparagraph a& of paragraph $ and subparagraph a& of paragraph shall not

appl# in the case of dividends paid b# a U"S" )egulated 0nvestment Compan# ()0C& or aU"S" )eal %state 0nvestment Trust ()%0T&" 0n the case of dividends paid b# a )0C,subparagraph b& of paragraph $ and subparagraph b& of paragraph shall appl#" 0n thecase of dividends paid b# a )%0T, subparagraph b& of paragraph $ and subparagraph b&of paragraph shall appl# onl# if

i& the beneficial owner of the dividends is an individual or a pension fund, in

either case holding an interest of not more than ! percent in the )%0T+ii& the dividends are paid with respect to a class of stoc@ that is publicl#traded and the beneficial owner of the dividends is a person holding an interest ofnot more than 8 percent of an# class of the )%0TFs stoc@+ or iii& the beneficial owner of the dividends is a person holding an interest of notmore than ! percent in the )%0T and the )%0T is diversified"

b& 5or purposes of this paragraph, a )%0T shall be >diversified> if the value of nosingle interest in real propert# exceeds ! percent of its total interests in real propert#"5or the purposes of this rule, foreclosure propert# shall not be considered an interest inreal propert#" here a )%0T holds an interest in a partnership, it shall be treated asowning directl# a proportion of the partnerships interests in real propert# corresponding

to its interest in the partnership"<" 5or purposes of this Article, the term >dividends> means income from shares or otherrights, not being debt.claims, participating in profits, as well as income that is sub?ected to thesame taxation treatment as income from shares under the laws of the State of which the pa#er isa resident"=" The provisions of paragraphs ! through ; shall not appl# if the beneficial owner of thedividends, being a resident of a Contracting State, carries on business in the other ContractingState, of which the pa#er is a resident, through a permanent establishment situated therein, andthe holding in respect of which the dividends are paid is effectivel# connected with such permanent establishment" 0n such case the provisions of Article < (Business 3rofits& shall appl#":" A Contracting State ma# not impose an# tax on dividends paid b# a resident of the other

State, except insofar as the dividends are paid to a resident of the first.mentioned State or thedividends are attributable to a permanent establishment situated in the first.mentioned State, norma# it impose tax on a corporations undistributed profits, except as provided in paragraph !,even if the dividends paid or the undistributed profits consist wholl# or partl# of profits orincome arising in that State"!" a& A compan# that is a resident of one of the States and that has a permanent

establishment in the other State or that is sub?ect to tax in the other State on a net basison its income that ma# be taxed in the other State under Article ; (0ncome from )eal3ropert#& or under paragraph ! of Article ! (Gains& ma# be sub?ect in that other Stateto a tax in addition to the tax allowable under the other provisions of this Convention" b& Such tax, however, ma# be imposed on onl# the portion of the business profits ofthe compan# attributable to the permanent establishment and the portion of the income

referred to in the preceding sentence that is sub?ect to tax under Article ; or under paragraph ! of Article ! that, in the case of the United States, represent the dividende1uivalent amount of such profits or income and, in the case of Belgium, is an amountthat is analogous to the dividend e1uivalent amount"

!!" The tax referred to in subparagraphs a& and b& of paragraph ! shall not be imposed at arate exceeding the rate specified in subparagraph a& of paragraph $" 0n an# case, it shall not beimposed on a compan# that

a& satisfies the conditions of clause i& or ii& of subparagraph c& of paragraph $ of Article $! (Eimitation on Benefits&+ b& satisfies the conditions of clauses i& and ii& of subparagraph e& of paragraph $ of Article $!, provided that the compan# satisfies the conditions

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described in paragraph ' of that Article with respect to an item of income, profit, orgain described in paragraph !+c& is entitled under paragraph of Article $! to benefits with respect to

an item of income, profit, or gain described in paragraph !+ ord& has received a determination pursuant to paragraph < of Article $! withrespect to this paragraph"

!$" a& -otwithstanding Article $: (Termination&i& paragraph of this Article shall terminate on, and shall cease to beeffective for amounts paid or credited on or after, Hanuar# ! of the ;th #earfollowing the #ear in which the Convention enters into force, unless, b# Hune of the 8th #ear following entr# into force, the United States Secretar# of theTreasur#, on the basis of a report of the Commissioner of 0nternal )evenue,certifies to the Senate of the United States that Belgium has satisfactoril#complied with its obligations under Article $8 (%xchange of 0nformation and

Administrative Assistance&+ andii& the United States ma# terminate paragraph of this Article b# givingwritten notice of termination to Belgium, through the diplomatic channel, on or before Hune in an# #ear" 0n such case, paragraph hereof shall cease to beeffective for amounts paid or credited on or after Hanuar# ! of the #ear nextfollowing that in which such notice is given" The United States will not give suchnotice of termination unless it has determined that Belgiums actions with respectto Articles $' (2utual Agreement 3rocedure& and $8 have materiall# altered the balance of benefits of the Convention"

b& The competent authorities shall consult at least annuall# regarding an# issues thatarise with respect to the functioning of Articles $' and $8 that otherwise might trigger atermination under subparagraph a&"

Article 11

INTEREST

!" 0nterest arising in a Contracting State and beneficiall# owned b# a resident of the otherContracting State shall be taxable onl# in that other State"$" -otwithstanding the provisions of paragraph !

a& interest arising in the United States that is contingent interest of a t#pe that doesnot 1ualif# as portfolio interest under United States law ma# be taxed b# the UnitedStates but, if the beneficial owner of the interest is a resident of Belgium, the interestma# be taxed at a rate not exceeding !8 percent of the gross amount of the interest+ b& interest arising in Belgium that is determined with reference to receipts, sales,

income, profits or other cash flow of the debtor or a related person, to an# change in thevalue of an# propert# of the debtor or a related person or to an# dividend, partnershipdistribution or similar pa#ment made b# the debtor to a related person ma# be taxed inBelgium, and according to the laws of Belgium, but if the beneficial owner is a residentof the United States, the interest ma# be taxed at a rate not exceeding !8 percent of thegross amount of the interest+ andc& interest that is an excess inclusion with respect to a residual interest in a realestate mortgage investment conduit ma# be taxed b# each State in accordance with itsdomestic law"

" The term >interest> as used in this Article means income from debt.claims of ever# @ind,whether or not secured b# mortgage, and whether or not carr#ing a right to participate in the

debtors profits, and in particular, income from government securities and income from bonds ordebentures, including premiums or pri9es attaching to such securities, bonds or debentures, andall other income that is sub?ected to the same taxation treatment as income from mone# lent b#the taxation law of the Contracting State in which the income arises" 0ncome dealt with inArticle ! (*ividends& and penalt# charges for late pa#ment shall not be regarded as interest forthe purposes of this Convention"'" The provisions of paragraph ! shall not appl# if the beneficial owner of the interest, being a resident of a Contracting State, carries on business in the other Contracting State, inwhich the interest arises, through a permanent establishment situated therein, and the debt.claimin respect of which the interest is paid is effectivel# connected with such permanentestablishment" 0n such case the provisions of Article < (Business 3rofits& shall appl#"

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8" 0nterest shall be deemed to arise in a Contracting State when the pa#er is a resident ofthat State" here, however, the person pa#ing the interest, whether he is a resident of aContracting State or not, has in a Contracting State a permanent establishment in connection

with which the indebtedness on which the interest is paid was incurred, and such interest is borne b# such permanent establishment, then such interest shall be deemed to arise in the Statein which the permanent establishment is situated";" here, b# reason of a special relationship between the pa#er and the beneficial owner or between both of them and some other person, the amount of the interest, having regard to thedebt.claim for which it is paid, exceeds the amount which would have been agreed upon b# the pa#er and the beneficial owner in the absence of such relationship, the provisions of this Articleshall appl# onl# to the last.mentioned amount" 0n such case the excess part of the pa#mentsshall remain taxable according to the laws of each Contracting State, due regard being had to theother provisions of this Convention"

Article 12

RO$ALTIES

!" )o#alties arising in a Contracting State and beneficiall# owned b# a resident of the otherContracting State shall be taxable onl# in that other State"$" The term >ro#alties> as used in this Article means pa#ments of an# @ind received as aconsideration for the use of, or the right to use, an# cop#right of literar#, artistic, or scientificwor@ (including cinematographic films and software&, an# patent, trade mar@, design or model, plan, secret formula or process, or for information concerning industrial, commercial orscientific experience"" The provisions of paragraph ! shall not appl# if the beneficial owner of the ro#alties, being a resident of a Contracting State, carries on business in the other Contracting Statethrough a permanent establishment situated therein and the right or propert# in respect of whichthe ro#alties are paid is effectivel# connected with such permanent establishment" 0n such casethe provisions of Article < (Business 3rofits& shall appl#"'" here, b# reason of a special relationship between the pa#er and the beneficial owner or between both of them and some other person, the amount of the ro#alties, having regard to theuse, right, or information for which the# are paid, exceeds the amount which would have beenagreed upon b# the pa#er and the beneficial owner in the absence of such relationship, the provi.sions of this Article shall appl# onl# to the last.mentioned amount" 0n such case the excess partof the pa#ments shall remain taxable according to the laws of each Contracting State, due regard being had to the other provisions of this Convention"

Article 1

GAINS

!" Gains derived b# a resident of a Contracting State that are attributable to the alienationof real propert# situated in the other Contracting State ma# be taxed in that other State"$" 5or the purposes of this Article the term >real propert# situated in the other ContractingState> shall include

a& real propert# referred to in Article ; (0ncome from )eal 3ropert#&+ and b& where that other State is the United States, a United States real propert# interest"

" Gains from the alienation of movable propert# forming part of the business propert# of a permanent establishment that an enterprise of a Contracting State has in the other Contracting

State, including such gains from the alienation of such a permanent establishment (alone or withthe whole enterprise&, ma# be taxed in that other State"'" Gains derived b# an enterprise of a Contracting State from the alienation of ships oraircraft operated in international traffic or personal propert# pertaining to the operation of suchships or aircraft shall be taxable onl# in that State"8" Gains deriv ed b# a n ent er pris e of a Contra ctin g Stat e from theali ena t ion of container s (including tr ail er s and rela ted e1uipment for thetr ans port of con ta ine r s& u sed for t he tr ans port of goods or mer chand i s eshall be t axable onl# in tha t S ta te , unless those container s or t ra il er s andrel at ed e1u ipmen t a re used for t rans por t sol el # be tween pl aces wit hi n theother Contract ing State "

;" Gains from the alienation of an# propert# other than propert# referred to in paragraphs !

!



through 8 shall be taxable onl# in the Contracting State of which the alienator is a resident"

Article 1!

INCOME FROM EMPLO$MENT!" Sub?ect to the provisions of Articles !8 (*irectors 5ees&, !< (3ensions, Social Securit#,Annuities, Alimon#, and Child Support&, != (Government Service& and !: (Students, Trainees,Teachers and )esearchers&, salaries, wages, and other similar remuneration derived b# a residentof a Contracting State in respect of an emplo#ment shall be taxable onl# in that State unless theemplo#ment is exercised in the other Contracting State" 0f the emplo#ment is so exercised, suchremuneration as is derived therefrom ma# be taxed in that other State"$" -otwithstanding the provisions of paragraph !, remuneration derived b# a resident of aContracting State in respect of an emplo#ment exercised in the other Contracting State shall betaxable onl# in the first.mentioned State if

a& the recipient is present in the other State for a period or periods not exceeding in

the aggregate != da#s in an# twelve month period commencing or ending in the taxable#ear concerned+ and b& the remuneration is paid b#, or on behalf of, an emplo#er who is not a resident ofthe other State+ andc& the remuneration is not borne b# a permanent establishment which the emplo#erhas in the other State"

" -otwithstanding the preceding provisions of this Article, remuneration described in paragraph ! that is derived b# a resident of a Contracting State in respect of an emplo#ment as amember of the regular complement of a ship or aircraft operated in international traffic shall betaxable onl# in that State"

Article 1"

DIRECTORS) FEES

*irectors fees and other compensation derived b# a resident of a Contracting State for servicesrendered in the other Contracting State in his capacit# as a member of the board of directors of acompan# that is a resident of the other Contracting State ma# be taxed in that other ContractingState"

Article 1#

ENTERTAINERS AND SPORTSMEN

!" 0ncome derived b# a resident of a Contracting State as an entertainer, such as a theater,motion picture, radio, or television artiste, or a musician, or as a sportsman, from his personalactivities as such exercised in the other Contracting State, which income would be exempt from

tax in that other Contracting State under the provisions of Articles < (Business 3rofits& and !'(0ncome from %mplo#ment& ma# be taxed in that other State, except where the amount of thegross receipts derived b# such entertainer or sportsman, including expenses reimbursed to himor borne on his behalf, from such activities does not exceed twent# thousand United Statesdollars (I$,& or its e1uivalent in euro for the taxable #ear of the pa#ment"$" here income in respect of personal activities exercised b# an entertainer or a sportsmanin his capacit# as such accrues not to the entertainer or sportsman himself but to another person,that income ma#, notwithstanding the provisions of Articles < and !', be taxed in theContracting State in which the activities of the entertainer or sportsman are exercised, but onl#in cases in which the contract pursuant to which the personal activities are performed

a& designates (b# name or description& the entertainer or sportsman+ or

b& allows the other part# to the contract (or some third person other than theentertainer, sportsman or the first.mentioned other person& to designate the individualwho is to perform the personal activities"

Article 1%

PENSIONS* SOCIAL SECURIT$* ANNUITIES*

ALIMON$* AND CHILD SUPPORT

!" Sub?ect to paragraph $ of Article != (Government Service&,a& pensions and other similar remuneration beneficiall# owned b# a resident of aContracting State shall be taxable onl# in that State+ b& notwithstanding subparagraph a&, the amount of an# such pension orremuneration arising in a Contracting State that, when received, would be exempt from

!!



taxation in that State if the beneficial owner were a resident thereof shall be exempt fromtaxation in the Contracting State of which the beneficial owner is a resident"

$" -otwithstanding the provisions of paragraph !, pa#ments made b# a Contracting State

under provisions of the social securit# or similar legislation of that State to a resident of theother Contracting State or to a citi9en of the United States shall be taxable onl# in the first.mentioned State"" Annuities derived and beneficiall# owned b# an individual resident of a Contracting Stateshall be taxable onl# in that State" The term >annuities> as used in this paragraph means a statedsum paid periodicall# at stated times during a specified number of #ears, or for life, under anobligation to ma@e the pa#ments in return for ade1uate and full consideration (other thanservices rendered&"'" Alimon# paid b# a resident of a Contracting State to a resident of the other ContractingState shall be taxable onl# in that other State" The term >alimon#> as used in this paragraphmeans periodic pa#ments made pursuant to a written separation agreement or a decree of

divorce, separate maintenance, or compulsor# support, which pa#ments are taxable to therecipient under the laws of the State of which he is a resident"8" 3eriodic pa#ments, not dealt with in paragraph ', for the support of a child made pursuant to a written separation agreement or a decree of divorce, separate maintenance, orcompulsor# support, paid b# a resident of a Contracting State to a resident of the otherContracting State, shall be taxable onl# in the first.mentioned State";" 0ncome earned b# a pension fund that is a resident of a Contracting State ma# be taxedas income of an individual who is a resident of the other Contracting State onl# when, and,sub?ect to the provisions of paragraph ! of this Article, to the extent that, it is paid to, or for the benefit of, that individual from the pension fund (and not transferred to another pension fundthat is a resident of the first.mentioned Contracting State&"<" here an individual who is a member or beneficiar# of, or participant in, a pension fundthat is a resident of one of the Contracting States (or in a similar fund that is a resident of acomparable third State& exercises an emplo#ment or self.emplo#ment in the other ContractingState

a& contributions paid b# or on behalf of that individual under a pension plan duringthe period that he exercises an emplo#ment or self.emplo#ment in the other ContractingState shall be deductible (or excludible& in computing his taxable income in that otherContracting State+ and

b& an# benefits accrued under the pension plan, or contributions made under the pension plan b# or on behalf of the individualFs emplo#er, during that period shall not betreated as part of the emplo#eeFs taxable income and an# such contributions shall beallowed as a deduction in computing the taxable income of his emplo#er in that other

Contracting State"The relief available under this paragraph shall not exceed the relief that would be allowed b# theother Contracting State to residents of that Contracting State for contributions to, or benefitsaccrued under, a pension plan established in that Contracting State, in the case of the UnitedStates, or recogni9ed for tax purposes in that Contracting State, in the case of Belgium"=" The provisions of paragraph < of this Article shall not appl# unless

a& contributions b# or on behalf of the individual, or b# or on behalf of theindividualFs emplo#er, under the pension plan (or under another similar pension plan forwhich the first.mentioned pension plan was substituted& were made before the individual began to exercise an emplo#ment or self.emplo#ment in the other Contracting State+ b& the individual has performed personal services in the other Contracting State for

a cumulative period not exceeding ten calendar #ears+ andc& the competent authorit# of the other Contracting State has agreed that the pension plan generall# corresponds to a pension plan recogni9ed for tax purposes in thatother Contracting State"

:" a& here a citi9en of the United States who is a resident of Belgium exercises anemplo#ment in Belgium the income from which is taxable in Belgium, the contribution is borne b# an emplo#er who is a resident of Belgium or b# a permanent establishmentsituated in Belgium, and the individual is a member or beneficiar# of, or participant in, a pension fund that is a resident of Belgium (or in a similar fund that is a resident of acomparable third State&,

i& contributions paid b# or on behalf of that individual under a pension planduring the period that he exercises the emplo#ment in Belgium, and that are

!$



attributable to the emplo#ment, shall be deductible (or excludible& in computinghis taxable income in the United States+ andii& an# benefits accrued under the pension plan, or contributions made under

the pension plan b# or on behalf of the individualFs emplo#er, during that period,and that are attributable to the emplo#ment, shall not be treated as part of theemplo#eeFs taxable income in computing his taxable income in the UnitedStates"

b& The relief available under this paragraph shall not exceed the lesser ofi& the relief that would be allowed b# the United States to its residents forcontributions to, or benefits accrued under, a generall# corresponding pension plan recogni9ed for tax purposes in the United States+ andii& the amount of the contributions or benefits that 1ualif# for tax relief inBelgium"

c& 5or purposes of determining an individualFs eligibilit# to participate in and

receive tax benefits with respect to a pension plan established in the United States,contributions made to, or benefits accrued under, a pension plan recogni9ed for tax purposes in Belgium shall be treated as contributions or benefits under a generall#corresponding pension plan established in the United States to the extent relief isavailable to the individual under this paragraph"d& This paragraph shall not appl# unless the competent authorit# of the UnitedStates has agreed that the pension plan generall# corresponds to a pension planrecogni9ed for tax purposes in the United States"

!" a& 5or purposes of paragraphs < and :, a similar fund that is a resident of a Stateother than a Contracting State will be considered to be a resident of a comparable thirdState onl# if that third State

i& is a member state of the %uropean Union or an# other %uropean%conomic Area state or an# part# to the -orth American 5ree Trade Agreementor Swit9erland+ii& provides, under a tax treat# or otherwise, comparable favorable treatmentfor contributions to a pension fund that is a resident of the Contracting State thatis providing benefits under paragraph < or :+ andiii& has an information exchange provision in a tax treat# or otherarrangement with the Contracting State that is providing benefits under paragraph < or : that is satisfactor# to that Contracting State+

b& a pension plan is recogni9ed for tax purposes in a Contracting State if contributions to the plan would 1ualif# for tax relief in that Contracting State"

Article 1&GOVERNMENT SERVICE

!" -otwithstanding the provisions of Articles !' (0ncome from %mplo#ment&, !8(*irectorsF 5ees&, !; (%ntertainers and Sportsmen& and !: (Students, Trainees, Teachers and)esearchers&

a& salaries, wages and other similar remuneration, other than a pension, paid to anindividual in respect of services rendered to a Contracting State or a political subdivisionor local authorit# thereof shall be taxable onl# in that State+ b& such remuneration, however, shall be taxable onl# in the other Contracting Stateif the services are rendered in that State and the individual is a resident of that State who

i& is a national of that State+ or

ii& did not become a resident of that State solel# for the purpose of renderingthe services"$" a& -otwithstanding the provisions of paragraph !, an# pension and other similar

remuneration paid b#, or out of funds created b#, a Contracting State or a politicalsubdivision or a local authorit# thereof to an individual in respect of services rendered tothat State or subdivision or authorit# (other than a pa#ment to which paragraph $ ofArticle !< (3ensions, Social Securit#, Annuities, Alimon#, and Child Support& applies&shall be taxable onl# in that State+ b& such pensions and other similar remuneration, however, shall be taxable onl# inthe other Contracting State if the individual is a resident of, and a national of, that State"

!



" The provisions of Articles !', !8, !; and !< shall appl# to salaries, wages, pensions, andother similar remuneration, in respect of services rendered in connection with a business carriedon b# a Contracting State or a political subdivision or a local authorit# thereof"

Article 1'

STUDENTS* TRAINEES* TEACHERS AND RESEARCHERS

!" a& 3a#ments, other than compensation for personal services, received b# a studentor business trainee who is, or was immediatel# before visiting a Contracting State, aresident of the other Contracting State, and who is present in the first.mentioned Statefor the purpose of his full.time education or for his full.time training, shall not be taxedin that State, provided that such pa#ments arise outside that State, and are for the purpose of his maintenance, education or training" The exemption from tax provided b#this paragraph shall appl# to a business trainee onl# for a period of time not exceedingtwo #ears from the date the business trainee first arrives in the first.mentioned

Contracting State for the purpose of training" b& A student or business trainee within the meaning of subparagraph a& shall beexempt from tax in the Contracting State in which the individual is temporaril# presentwith respect to income from personal services in an aggregate amount e1ual to I:, orits e1uivalent in euro annuall#" The competent authorities shall, ever# five #ears, ad?ustthe amount provided in this subparagraph to the extent necessar# to ta@e into accountchanges in the U"S" personal exemption and standard deduction and the Belgian basicallowance (1uotitJ exemptJebelastingvri?e som&"c& 5or purposes of this paragraph, a business trainee is an individual

i& who is temporaril# present in a Contracting State for the purpose of securing training re1uired to 1ualif# the individual to practice a

profession or professional specialt#+ orii& who is temporaril# present in a Contracting State as an emplo#ee of, orunder contract with, a resident of the other Contracting State, for the primar# purpose of ac1uiring technical, professional, or businessexperience from a person other than that resident of the other ContractingState (or a person related to such resident of the other Contracting State&"

$" An individual who is a resident of a Contracting State at the beginning of his visit to theother Contracting State and who is temporaril# present in the other Contracting State for the purpose of teaching or carr#ing on research at a school, college, universit# or other educationalor research institution shall be exempt from tax in the other Contracting State for a period notexceeding two #ears from the date of the individuals arrival in that other State on theremuneration received in consideration of teaching or carr#ing on research" This paragraph shall

not appl# to income from research if such research is underta@en not in the public interest but primaril# for the private benefit of a specific person or persons"

Article 2(

OTHER INCOME

!" 0tems of income beneficiall# owned b# a resident of a Contracting State, whereverarising, not dealt with in the foregoing Articles of this Convention shall be taxable onl# in thatState"$" The provisions of paragraph ! shall not appl# to income, other than income from real propert# as defined in paragraph $ of Article ; (0ncome from )eal 3ropert#&, if the beneficialowner of the income, being a resident of a Contracting State, carries on business in the other

Contracting State through a permanent establishment situated therein and the income isattributable to such permanent establishment" 0n such case the provisions of Article < (Business3rofits& shall appl#"

Article 21

LIMITATION ON BENEFITS

!" A resident of a Contracting State shall be entitled to benefits otherwise accorded toresidents of a Contracting State b# this Convention onl# to the extent provided in this Article"$" A resident of a Contracting State shall be entitled to all the benefits of this Convention ifthe resident is

a& an individual+ b& a Contracting State or an# political subdivision or local authorit# thereof+

!'



c& a compan#, ifi& its principal class of shares (and an# disproportionate class of shares& isregularl# traded on one or more recogni9ed stoc@ exchanges, and either

A& its principal class of shares is primaril# traded on a recogni9edstoc@ exchange located in the Contracting State of which the compan# isa resident (or, in the case of a compan# resident in Belgium, on arecogni9ed stoc@ exchange located within the %uropean Union or in an#other %uropean %conomic Area state, or, in the case of a compan#resident in the United States, on a recogni9ed stoc@ exchange located inanother state that is a part# to the -orth American 5ree TradeAgreement&+ or B& the compan#Fs primar# place of management and control is in theContracting State of which it is a resident+ or

ii& at least 8 percent of the aggregate voting power and value of the shares

(and at least 8 percent of an# disproportionate class of shares& in the compan#are owned directl# or indirectl# b# five or fewer companies entitled to benefitsunder clause i& of this subparagraph, provided that, in the case of indirectownership, each intermediate owner is a resident of either Contracting State+

d& a person described in paragraph of Article ' ()esident&, provided that, in thecase of a person described in subparagraph a& of that paragraph, either

i& more than 8 percent of the personFs beneficiaries, members or participants are individuals resident in either Contracting State+ or ii& the organi9ation sponsoring such person is entitled to the benefits of thisConvention pursuant to this Article+ or

e& a person other than an individual, ifi& on at least half the da#s of the taxable #ear at least 8 percent of eachclass of shares or other beneficial interests in the person is owned, directl# orindirectl#, b# residents of the Contracting State of which that person is a residentthat are entitled to the benefits of this Convention under subparagraph a&,subparagraph b&, clause i& of subparagraph c&, or subparagraph d& of this paragraph+ andii& less than 8 percent of the persons gross income for the taxable #ear, asdetermined in the persons State of residence, is paid or accrued, directl# orindirectl#, to persons who are not residents of either Contracting State entitled tothe benefits of this Convention under subparagraph a&, subparagraph b&, clause i&of subparagraph c&, or subparagraph d& of this paragraph in the form of pa#mentsthat are deductible for purposes of the taxes covered b# this Convention in the

persons State of residence (but not including arms length pa#ments in theordinar# course of business for services or tangible propert# and pa#ments inrespect of financial obligations to a ban@ that is not related to the pa#or&"

" A compan# that is a resident of a Contracting State shall also be entitled to the benefitsof the Convention if

a& at least :8 percent of the aggregate voting power and value of its shares (and atleast 8 percent of an# disproportionate class of shares& is owned, directl# or indirectl#, b# seven or fewer persons that are e1uivalent beneficiaries+ and b& less than 8 percent of the compan#Fs gross income, as determined in thecompan#s State of residence, for the taxable #ear is paid or accrued, directl# orindirectl#, to persons who are not e1uivalent beneficiaries, in the form of pa#ments (but

not including arms length pa#ments in the ordinar# course of business for services ortangible propert# and pa#ments in respect of financial obligations to a ban@ that is notrelated to the pa#or&, that are deductible for the purposes of the taxes covered b# thisConvention in the compan#s State of residence"

'" a& A resident of a Contracting State will be entitled to benefits of the Conventionwith respect to an item of income derived from the other Contracting State, regardless ofwhether the resident is entitled to benefits under paragraph $ or , if the resident isengaged in the active conduct of a trade or business in the first.mentioned State (otherthan the business of ma@ing or managing investments for the residentFs own account,unless these activities are ban@ing, insurance, or securities activities carried on b# a ban@,insurance compan# or registered securities dealer&, and the income derived from theother Contracting State is derived in connection with, or is incidental to, that trade or

!8



business" b& 0f a resident of a Contracting State or an# of its associated enterprises carries ona trade or business activit# in the other Contracting State which gives rise to an item of

income, subparagraph a& of this paragraph shall appl# to such item onl# if the trade or business activit# in the first.mentioned State is substantial in relation to the trade or business activit# in the other State" hether a trade or business activit# is substantial for purposes of this paragraph will be determined based on all the facts and circumstances"c& 0n determining whether a person is >engaged in the active conduct of a trade or business> in a Contracting State under subparagraph a& of this paragraph, activitiesconducted b# persons connected to such person shall be deemed to be conducted b#such person" A person shall be connected to another if one possesses at least 8 percentof the beneficial interest in the other (or, in the case of a compan#, at least 8 percent ofthe aggregate voting power and at least 8 percent of the aggregate value of the sharesin the compan# or of the beneficial e1uit# interest in the compan#& or another person

possesses, directl# or indirectl#, at least 8 percent of the beneficial interest (or, in thecase of a compan#, at least 8 percent of the aggregate voting power and at least 8 percent of the aggregate value of the shares in the compan# or of the beneficial e1uit#interest in the compan#& in each person" 0n an# case, a person shall be considered to beconnected to another if, based on all the relevant facts and circumstances, one hascontrol of the other or both are under the control of the same person or persons"

8" A person that is a resident of a Contracting State and functions as a head1uarterscompan# for a multinational corporate group shall also be entitled to all the benefits of thisConvention otherwise accorded to residents of that Contracting State if that person satisfies an#other specified conditions for the obtaining of such benefits" A person shall be considered ahead1uarters compan# for this purpose onl# if

a& it provides a substantial portion of the overall supervision and administration ofthe group, which ma# include, but cannot be principall#, group financing+ b& the corporate group consists of companies which are resident in, and engaged inan active business in, at least five countries, and the business activities carried on in eachof the five countries (or five groupings of countries& generate at least ! percent of thegross income of the group+c& the business activities carried on in an# one countr# other than the State ofresidence of the head1uarters compan# generate less than 8 percent of the gross incomeof the group+d& no more than $8 percent of its gross income is derived from the other State+e& it has, and exercises, independent discretionar# authorit# to carr# out thefunctions referred to in subparagraph a&+

f& it is sub?ect to the same income taxation rules in its countr# of residence as persons described in paragraph '+ andg& the income derived in the other State either is derived in connection with, or isincidental to, the active business referred to in subparagraph b&"

0f the gross income re1uirements of subparagraphs b&, c&, or d& of this paragraph are notfulfilled, the# will be deemed to be fulfilled if the re1uired ratios are met when averaging thegross income of the preceding four #ears";" -otwithstanding the preceding provisions of this Article, where an enterprise of Belgiumderives interest, or ro#alties from the United States, and the income consisting of such interest,or ro#alties is exempt from taxation in Belgium because it is attributable to a permanentestablishment which that enterprise has in a third state, the tax benefits that would otherwise

appl# under the other provisions of the Convention will not appl# to such income if the tax thatis actuall# paid with respect to such income in the third state is less than ; percent of the taxthat would have been pa#able in Belgium if the income were earned in Belgium b# the enterpriseand were not attributable to the permanent establishment in the third state" An# interest orro#alties to which the provisions of this paragraph appl# ma# be taxed in the United States at arate that shall not exceed !8 percent of the gross amount thereof" The provisions of this paragraph shall not appl# if

a& in the case of interest, as defined in Article !! (0nterest&, the income from theUnited States is derived in connection with, or is incidental to, the active conduct of atrade or business carried on b# the permanent establishment in the third state (other thanthe business of ma@ing, managing, or simpl# holding investments for the enterpriseFsown account, unless these activities are ban@ing, or securities activities carried on b# a

!;



ban@, or registered securities dealer&+ or b& in the case of ro#alties, as defined in Article !$ ()o#alties&, the ro#alties arereceived as compensation for the use of, or the right to use, intangible propert# produced

or developed b# the permanent establishment itself"<" A resident of a Contracting State that is not entitled to benefits pursuant to the preceding paragraphs of this Article shall, nevertheless, be granted benefits of the Convention if thecompetent authorit# of the other Contracting State determines that the establishment,ac1uisition, or maintenance of such person and the conduct of its operations did not have as oneof its principal purposes the obtaining of benefits under the Convention" The competentauthorit# of the other Contracting State shall consult with the competent authorit# of the first.mentioned State before den#ing the benefits of the Convention under this paragraph"=" 5or the purposes of this Article

a& the term >principal class of shares> means the ordinar# or common shares of thecompan#, provided that such class of shares represents the ma?orit# of the voting power

and value of the compan#" 0f no single class of ordinar# or common shares represents thema?orit# of the aggregate voting power and value of the compan#, the >principal class ofshares> are those classes that in the aggregate represent a ma?orit# of the aggregatevoting power and value of the compan#+ b& the term >disproportionate class of shares> means an# class of shares of acompan# resident in a Contracting State that entitles the shareholder todisproportionatel# higher participation, through dividends, redemption pa#ments, orotherwise, in the earnings generated in the other Contracting State b# particular assets oractivities of the compan# when compared to its participation in overall assets or activitiesof such compan#+c& the term >shares> shall include depositor# receipts thereof+d& the term >recogni9ed stoc@ exchange> means

i& the -AS*AL S#stem owned b# the -ational Association of Securities*ealers, 0nc" and an# stoc@ exchange registered with the U"S" Securities and%xchange Commission as a national securities exchange under the U"S" Securities%xchange Act of !:'+ii& the Brussels Stoc@ %xchange+iii& the 0rish Stoc@ %xchange and the stoc@ exchanges of Amsterdam,5ran@furt, Damburg, Eisbon, Eondon, 2adrid, 2ilan, 3aris, Toronto and Murich+andiv& an# other stoc@ exchanges agreed upon b# the competent authorities ofthe Contracting States+

e& a class of shares is considered to be regularl# traded on one or more recogni9ed

stoc@ exchanges in a taxable #ear if the aggregate number of shares of that class tradedon such stoc@ exchange or exchanges during the preceding taxable #ear is at least ; percent of the average number of shares outstanding in that class during that precedingtaxable #ear+f& a compan#Fs primar# place of management and control will be in the ContractingState of which it is a resident onl# if executive officers and senior managementemplo#ees exercise da#.to.da# responsibilit# for more of the strategic, financial, andoperational polic# decision ma@ing for the compan# (including its direct and indirectsubsidiaries& in that State than in an# other state, and the staffs conduct more of the da#.to.da# activities necessar# for preparing and ma@ing those decisions in that State than inan# other state+

g& the term >e1uivalent beneficiar#> means a resident of a member state of the%uropean Union or of an# other %uropean %conomic Area state or of a part# to the -orth American 5ree Trade Agreement, or of Swit9erland, but onl# if that resident

i& A& would be entitled to all the benefits of a comprehensive taxconvention between an# member state of the %uropean Union or an#other %uropean %conomic Area state or an# part# to the -orth American5ree Trade Agreement, or Swit9erland, and the State from which the benefits of this Convention are claimed under provisions analogous tosubparagraph a&, subparagraph b&, clause i& of subparagraph c& orsubparagraph d& of paragraph $, provided that if such convention doesnot contain a comprehensive limitation on benefits provision, the residentwould be entitled to the benefits of this Convention b# reason of

!<



subparagraph a&, subparagraph b&, clause i& of subparagraph c&, orsubparagraph d& of paragraph $ if such person were a resident of one ofthe Contracting States under Article ' ()esident&+ and

B& with respect to insurance premiums and to income referred to inArticle ! (*ividends&, !! (0nterest&, or !$ ()o#alties&, would be entitledunder such convention to a rate of tax with respect to the item of incomefor which benefits are being claimed under this Convention that is at leastas low as the rate applicable under this Convention+ or

ii& is a resident of a Contracting State that is entitled to the benefits of thisConvention b# reason of subparagraph a&, subparagraph b&, clause i& ofsubparagraph c&, or subparagraph d& of paragraph $+

h& with respect to dividends, interest, or ro#alties arising in Belgium and beneficiall#owned b# a compan# that is a resident of the United States, a compan# that is a residentof a member state of the %uropean Union will be treated as satisf#ing the re1uirements of

subparagraph g& i& B& for purposes of determining whether such United States resident isentitled to the benefits of the Convention under this paragraph if a pa#ment of dividends,interest, or ro#alties arising in Belgium and paid directl# to such resident of a memberstate of the %uropean Union would have been exempt from tax pursuant to an# directiveof the %uropean Union, notwithstanding that the tax convention between Belgium andthat other member state of the %uropean Union would provide for a higher rate of taxwith respect to such pa#ment than the rate of tax applicable to such United Statescompan# under Article !, !!, or !$"

Article 22

RELIEF FROM DOUBLE TAXATION

!" 0n the case of Belgium, double taxation will be relieved as followsa& her e a resid en t of Belgiu m deriv es inco me , oth er tha ndividends , in teres t and ro#alt ies , which is t axed in the United Sta tesin accordanc e wi th the provis ions of this Convent ion, Belgium shal lexempt such income from tax but ma# , in calcul at ing the amoun t oft ax on t he remai nde r of the income of tha t re si den t , app l# the ra te oft ax which woul d have been app licabl e if s uch income had not beenexempted " b& The exemption pr ovi ded b# subparag r ap h a& shall also begran t ed wit h r e spec t to income tr eat ed a s dividends unde r Belgi anlaw, which is derived b# a resident of Belgium from a par ticipat ion inan enti t# tha t der ives its s t a tus as such from the laws of the UnitedSt at e s or a n# st at e th er e of , wh er e th at e nti t# h as no t b ee n ta xe d asa corpora tion b# the United Sta tes, provided tha t the r es ident ofBelgium has been t axed b# the United Sta tes , proport ionall# to his partici pa tion in such enti t#, on th e income out of which th e incometr ea t ed a s dividends unde r Belgi an law is pai d" The exempt ed incomeis the income rece ived aft e r deduct ion of the cos t s incurred inBelgium or e ls ewher e in rel at ion to the manageme n t of the partici pa tion in th e enti t#"c& *ivide nd s de riv ed b# a c omp a n # which is a resid en t of Belgiu mfrom a compan# which is a r esident of the United Sta tes , sha ll beexempt from the co rpora t e income tax in Belgi um to the ext en t tha tex e mp t io n wo uld h av e b ee n ac co rd e d if th e tw o c o mp a n ie s h ad b ee nresident s of Belgium"d& her e divide nd s describ ed in sub pa ra gr a ph c& are notexempted from the corpora te income tax in Belg ium, Belg ium shalldeduc t from the co rpor a t e income t ax rel at ing to thes e dividends ,the United Sta tes t ax levied on these dividends in accordance withArticle ! (*ividends& " This deduct ion shal l not exceed that par t ofthe corpora te income tax which is propor tionall# r el at ing to thesedividends"e& Sub? ec t to t he pro visio ns of Belgia n law reg ar di ng th ededuct ion from Belgian t ax of taxes paid abroad, where a r esident of

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Belgium derives it ems of his aggregate income for Belgian t ax purposes which are interes t or ro#alties, th e United St ates tax levi edon tha t income shall be a llowed as a c redit agains t Belgian t ax

relating to such income"f& h er e, in acc or da n ce with Belgia n law, loss es incurr ed b# a nent e r pr is e car ri ed on b# a re si den t of Belgi um in a per manen tes tabli shment situa ted in the United Sta tes , have been effec tivel#deducted from the profi ts of tha t en terpr ise for its t axa t ion inBelgium, the exempt ion provided for in subparagra ph a& sha ll notappl# in Belgium to the profi ts of o ther t axable per iods a tt ributableto t hat e st abli shmen t to t he ext en t tha t thos e pr ofi ts have als o beenexempt ed from t ax in the Unit ed St at e s b# reason of compens a t ionfor the said losses "

$" 0n accordance with the provisions and sub?ect to the limitations of the law of the United

States (as it ma# be amended from time to time without changing the general principle hereof&,the United States shall allow to a resident or citi9en of the United States as a credit against theUnited States tax on income applicable to residents and citi9ens

a& the income tax paid or accrued to Belgium b# or on behalf of such resident orciti9en+ and b& in the case of a United States compan# owning at least ! percent of the votingstoc@ of a compan# that is a resident of Belgium and from which the United Statescompan# receives dividends, the income tax paid or accrued to Belgium b# or on behalfof the pa#er with respect to the profits out of which the dividends are paid"

5or the purposes of this paragraph, the taxes referred to in paragraphs a& and ' of Article $(Taxes Covered& shall be considered income taxes"

" 5or the purposes of appl#ing paragraph $ of this Article, an item of gross income, asdetermined under the laws of the United States, derived b# a resident of the United States that,under this Convention, ma# be taxed in Belgium shall be deemed to be income from sources inBelgium"'" here a resident of Belgium is also a citi9en or a former citi9en or former long.termresident of the United States and is sub?ect to United States tax in accordance with paragraph 'of Article ! (General Scope&, the following rules shall appl#

a& taxation b# the United States of the income of such persons shall not affect thetaxation in Belgium of income from sources arising in third countries, as determinedunder the laws of Belgium, and received b# a resident of Belgium+ b& in the case of income from sources within the United States, Belgium shall appl#

paragraph ! as if the tax paid to the United States in respect of such income were the taxthat would have been paid to the United States if the resident were not a citi9en or aformer citi9en or a former long.term resident of the United States+c& for purposes of appl#ing paragraph $ to compute United States tax on thoseitems of income referred to in subparagraph b&, the United States shall allow as a creditagainst United States tax the income tax paid to Belgium in accordance withsubparagraph b&+ the credit so allowed shall not reduce the amount of the United Statestax below the amount that is ta@en into account in appl#ing subparagraph b&+ andd& for the exclusive purpose of relieving double taxation in the United States undersubparagraph c&, items of income referred to in subparagraph b& shall be deemed to arisein Belgium to the extent necessar# to avoid double taxation of such income undersubparagraph c&"

Article 2

NON+DISCRIMINATION

!" -ationals of a Contracting State shall not be sub?ected in the other Contracting State toan# taxation or an# re1uirement connected therewith that is more burdensome than the taxationand connected re1uirements to which nationals of that other State in the same circumstances, in particular with respect to residence, are or ma# be sub?ected" This provision shall also appl# to persons who are not residents of one or both of the Contracting States" Dowever, for the purposes of United States taxation, United States nationals who are sub?ect to tax on aworldwide basis are not in the same circumstances as nationals of Belgium who are not residentsof the United States"

!:



$" The taxation on a permanent establishment that an enterprise of a Contracting State hasin the other Contracting State shall not be less favorabl# levied in that other State than thetaxation levied on enterprises of that other State carr#ing on the same activities"

" The provisions of paragraphs ! and $ shall not be construed as obliging a ContractingState to grant to residents of the other Contracting State an# personal allowances, reliefs, andreductions for taxation purposes on account of civil status or famil# responsibilities that it grantsto its own residents"'" %xcept where the provisions of paragraph ! of Article : (Associated %nterprises&, paragraph ; of Article !! (0nterest&, or paragraph ' of Article !$ ()o#alties& appl#, interest,ro#alties, and other disbursements paid b# a resident of a Contracting State to a resident of theother Contracting State shall, for the purpose of determining the taxable profits of the first.men.tioned resident, be deductible under the same conditions as if the# had been paid to a resident ofthe first.mentioned State" Similarl#, an# debts of a resident of a Contracting State to a residentof the other Contracting State shall, for the purpose of determining the taxable capital of the

first.mentioned resident, be deductible under the same conditions as if the# had been contractedto a resident of the first.mentioned State"8" %nterprises of a Contracting State, the capital of which is wholl# or partl# owned orcontrolled, directl# or indirectl#, b# one or more residents of the other Contracting State, shallnot be sub?ected in the first.mentioned State to an# taxation or an# re1uirement connectedtherewith that is more burdensome than the taxation and connected re1uirements to which othersimilar enterprises of the first.mentioned State are or ma# be sub?ected";" -othing in this Article shall be construed as preventing either Contracting State fromimposing a tax as described in paragraph ! of Article ! (*ividends&"<" The provisions of this Article shall, notwithstanding the provisions of Article $ (TaxesCovered&, appl# to taxes of ever# @ind and description imposed b# a Contracting State or a political subdivision or local authorit# thereof"

Article 2!

MUTUAL AGREEMENT PROCEDURE

!" here a person considers that the actions of one or both of the Contracting States resultor will result for such person in taxation not in accordance with the provisions of thisConvention, it ma#, irrespective of the remedies provided b# the domestic law of those States,and the time limits prescribed in such laws for presenting claims for refund, present its case tothe competent authorit# of either Contracting State" The case must be presented within three#ears from the first notification of the action resulting in taxation not in accordance with the provisions of the Convention"$" The competent authorit# shall endeavor, if the ob?ection appears to it to be ?ustified and

if it is not itself able to arrive at a satisfactor# solution, to resolve the case b# mutual agreementwith the competent authorit# of the other Contracting State, with a view to the avoidance oftaxation which is not in accordance with the Convention" Collection procedures shall besuspended during the period that an# mutual agreement proceeding is pending"" The competent authorities of the Contracting States shall endeavor to resolve b# mutualagreement an# difficulties or doubts arising as to the interpretation or application of theConvention" 0n particular the competent authorities of the Contracting States ma# agree

a& to the same attribution of income, deductions, credits, or allowances of anenterprise of a Contracting State to its permanent establishment situated in the otherContracting State+ b& to the same attribution of income, deductions, credits, or allowances between

permanent establishments of an enterprise where the permanent establishments arelocated in the Contracting States, whether or not the enterprise is an enterprise of aContracting State+c& to the same allocation of income, deductions, credits, or allowances between persons+d& to the settlement of conflicting application of the Convention, including conflictsregarding

i& the characteri9ation of particular items of income+ii& the characteri9ation of persons+iii& the application of source rules with respect to particular items of income+iv& the same meaning of an# term used in the Convention+

e& to advance pricing arrangements+ and

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f& to the application of the provisions of domestic law regarding penalties, fines,and interest in a manner consistent with the purposes of the Convention"

'" To the extent necessar# to facilitate the resolution of a case that is the sub?ect of a

mutual agreement proceeding under the preceding paragraphs, the tax authorities of eachContracting State shall have the power to as@ an# person who ma# have relevant information forthe disclosure of such information and to conduct investigations and hearings notwithstandingan# time limits in their domestic tax laws that would otherwise bar such re1uests forinformation" An# agreement reached under this Article shall be implemented notwithstandingan# time limits or other procedural limitations in the domestic law of the Contracting States"8" The competent authorities of the Contracting States ma# agree on administrativemeasures necessar# to carr# out the provisions of the Convention and particularl# on thedocumentation to be furnished b# a resident of a Contracting State in order to support its claimfor the exemptions or reductions of tax provided for in the Convention";" The competent authorities of the Contracting States ma# communicate with each other

directl#, including through a ?oint commission, for the purpose of reaching an agreement in thesense of the preceding paragraphs"<" here, pursuant to a mutual agreement procedure under this Article, the competentauthorities have endeavored but are unable to reach a complete agreement in a case, the caseshall be resolved through arbitration conducted in the manner prescribed b#, and sub?ect to, there1uirements of paragraph = and an# rules or procedures agreed upon b# the Contracting States,if

a& tax returns have been filed with at least one of the Contracting States withrespect to the taxable #ears at issue in the case+ b& the case is not a particular case that the competent authorities agree, before thedate on which arbitration proceedings would otherwise have begun, is not suitable fordetermination b# arbitration+ andc& all concerned persons agree according to the provisions of subparagraph d& of paragraph ="

=" 5or the purposes of paragraph < and this paragraph, the following rules and definitionsshall appl#

a& the term 6concerned person7 means the presenter of a case to a competentauthorit# for consideration under this Article and all other persons, if an#, whose taxliabilit# to either Contracting State ma# be directl# affected b# a mutual agreementarising from that consideration+ b& the 6commencement date7 for a case is the earliest date on which the informationnecessar# to underta@e substantive consideration for a mutual agreement has beenreceived b# both competent authorities+

c& arbitration proceedings in a case shall begin on the later ofi& two #ears after the commencement date of that case, unless bothcompetent authorities have previousl# agreed to a different date, andii& the earliest date upon which the agreement re1uired b# subparagraph d&has been received b# both competent authorities+

d& the concerned person(s&, and their authori9ed representatives or agents, mustagree prior to the beginning of arbitration proceedings not to disclose to an# other person an# information received during the course of the arbitration proceeding fromeither Contracting State or the arbitration board, other than the determination of such board+e& unless an# concerned person does not accept the determination of an arbitration

board, the determination shall constitute a resolution b# mutual agreement under thisArticle and shall be binding on both Contracting States with respect to that case+ andf& for purposes of an arbitration proceeding under paragraph < and this paragraph,the members of the arbitration board and their staffs shall be considered >persons orauthorities> to whom information ma# be disclosed under Article $8 (%xchange of0nformation and Administrative Assistance& of the Convention"

Article 2"

EXCHANGE OF INFORMATION AND ADMINISTRATIVE ASSISTANCE

!" The competent authorities of the Contracting States shall exchange such information asma# be relevant for carr#ing out the provisions of this Convention or of the domestic laws of theContracting States concerning the taxes covered b# the Convention insofar as the taxation

$!



thereunder is not contrar# to the Convention, including information relating to the assessment orcollection of, the enforcement or prosecution in respect of, or the determination of appeals inrelation to, the taxes covered b# the Convention" The exchange of information is not restricted

b# paragraph ! of Article ! (General Scope&"$" An# information received under this Article b# a Contracting State shall be treated assecret in the same manner as information obtained under the domestic laws of that State andshall be disclosed onl# to persons or authorities (including courts and administrative bodies&involved in the assessment, collection, or administration of, the enforcement or prosecution inrespect of, or the determination of appeals in relation to, the taxes referred to above, or theoversight of the above" Such persons or authorities shall use the information onl# for such purposes" The# ma# disclose the information in public court proceedings or in ?udicial decisions"" 0n no case shall the provisions of the preceding paragraphs be construed so as to imposeon a Contracting State the obligation

a& to carr# out administrative measures at variance with the laws and administrative

practice of that or of the other Contracting State+ b& to suppl# information that is not obtainable under the laws or in the normalcourse of the administration of that or of the other Contracting State+c& to suppl# information that would disclose an# trade, business, industrial,commercial, or professional secret or trade process, or information the disclosure ofwhich would be contrar# to public polic# (ordre public&"

'" 0f information is re1uested b# a Contracting State in accordance with this Article, theother Contracting State shall use its information gathering measures to obtain the re1uestedinformation, even though that other State ma# not need such information for its own purposes"The obligation contained in the preceding sentence is sub?ect to the limitations of paragraph but in no case shall such limitations be construed to permit a Contracting State to decline tosuppl# information because it has no domestic interest in such information"8" 0n no case shall the provisions of paragraph be construed to permit a Contracting Stateto decline to suppl# information re1uested b# the other Contracting State because theinformation is held b# a ban@, other financial institution, nominee or person acting in an agenc#or a fiduciar# capacit# or because it relates to ownership interests in a person" 0n order to obtainsuch information the tax administration of the re1uested Contracting State shall have the powerto as@ for the disclosure of information and to conduct investigations and hearingsnotwithstanding an# contrar# provisions in its domestic tax laws";" -otwithstanding paragraph , in order to obtain information re1uested within theframewor@ of this Article, the tax administration of the re1uested Contracting State shall havethe power to as@ for the disclosure of information and to conduct investigations and hearingsoutside an# time limits re1uired in its domestic tax laws"

<" 3enalties provided b# the domestic laws of the re1uested State for a person failing togive information relevant for carr#ing out its domestic tax laws shall appl# as if the obligation togive information provided in paragraphs 8 or ; was an obligation provided in the domestic taxlaws of the re1uested State"=" here a person refuses to give information re1uested within the framewor@ of thisArticle or fails to give such information within the time re1uired b# the tax administration of there1uested State, the re1uested State ma# bring appropriate enforcement proceedings againstsuch person" Such enforcement proceedings include, but are not limited to, summar# summonsenforcement proceedings in the case of the United States and summar# proceedings (procJdureen rJfJrJprocedure in @ortgeding& in the case of Belgium" Such person ma# be compelled togive such information under pain of such civil or criminal penalties as ma# be available under the

laws of the re1uested State":" 0f specificall# re1uested b# the competent authorit# of a Contracting State, thecompetent authorit# of the other Contracting State shall provide information under this Articlein the form of depositions of witnesses and authenticated copies of unedited original documents(including boo@s, papers, statements, records, accounts, and writings&"!" The re1uested State shall allow representatives of the re1uesting State to enter there1uested State to interview individuals and examine boo@s and records" Such interview orexamination shall ta@e place under the conditions and within the limits agreed upon b# thecompetent authorities of both Contracting States"!!" The competent authorities of the Contracting States shall agree upon the mode ofapplication of this Article, including agreement to ensure comparable levels of assistance to eachof the Contracting States"

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!$" 0f the United States terminates paragraph of Article ! (*ividends& in accordance with paragraph !$ of Article !, BelgiumFs obligations pursuant to paragraph 8 shall cease as of thedate that paragraph of Article ! is no longer effective"

Article 2#

ASSISTANCE IN COLLECTION

!" %ach of the Contracting States shall endeavor to collect on behalf of the otherContracting State such taxes imposed b# that other Contracting State as will ensure that an#exemption or reduced rate of tax granted under this Convention b# that other Contracting Stateshall not be en?o#ed b# persons not entitled to such benefits"$" 0n no case shall this Article be construed so as to impose upon a Contracting State theobligation to carr# out administrative measures at variance with the regulations and practices ofeither Contracting State or which would be contrar# to the first.mentioned Contracting States

sovereignt#, securit#, or public polic#"

Article 2%

MEMBERS OF DIPLOMATIC MISSIONS AND CONSULAR POSTS

-othing in this Convention shall affect the fiscal privileges of members of diplomatic missions orconsular posts under the general rules of international law or under the provisions of specialagreements"

Article 2&

ENTR$ INTO FORCE

!" This Convention shall be sub?ect to ratification in accordance with the applicable procedures of each Contracting State" %ach Contracting State shall notif# the other through thediplomatic channel, accompanied b# an instrument of ratification, when it has completed there1uired procedures"$" The Convention shall enter into force on the date on which the later of the notificationsis received, and its provisions shall have effect

a& in respect of taxes withheld at source, for amounts paid or credited on or afterthe first da# of the second month next following the date on which the Convention entersinto force+ b& in respect of other taxes, for taxable periods beginning on or after the first da# ofHanuar# next following the date on which the Convention enters into force"

" Subparagraph f& of paragraph 8 of Article $! (Eimitation on Benefits& shall not haveeffect until Hanuar# !, $!!"

'" The Convention between the United States of America and the Kingdom of Belgium forthe Avoidance of *ouble Taxation and the 3revention of 5iscal %vasion with )espect to Taxeson 0ncome, signed at Brussels on Hul# :, !:<, as modified b# a Supplementar# 3rotocol (the6prior Convention7&, shall, in relation to an# tax, cease to have effect as of the date on whichthis Convention has effect with respect to such tax in accordance with paragraphs $ and ; of thisArticle"8" -otwithstanding the preceding paragraph, where an# person entitled to benefits underthe prior Convention would have been entitled to greater benefits thereunder than under thisConvention, the prior Convention shall, at the election of such person, continue to have effect inits entiret# with respect to such person for a twelve.month period from the date on which the provisions of this Convention would have effect under paragraph $ of this Article"

;" -otwithstanding paragraphs $ and 8, the provisions of Article $8 (%xchange of0nformation and Administrative Assistance& shall have effect from the date of entr# into force ofthe Convention, without regard to the taxable period to which the matter relates"<" -otwithstanding paragraph $, paragraphs < and = of Article $' (2utual Agreement3rocedure& shall have effect, with respect to, and without regard to the taxable period to whichthe particular case relates

a& cases that are under consideration b# the competent authorities as of the date onwhich this Convention enters into force+ and b& cases that come under such consideration after such time,

and the commencement date for a case described in subparagraph a& of this paragraph shall bethe date on which this Convention enters into force"

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Article 2'

TERMINATION

This Convention shall remain in force until terminated b# a Contracting State" %ither

Contracting State ma# terminate the Convention at an# time after 8 #ears from the date onwhich this Convention enters into force b# giving notice of termination to the other ContractingState through diplomatic channels" 0n such event, the Convention shall cease to have effect

a& in respect of taxes withheld at source, for amounts paid or credited after theexpiration of the ;.month period beginning on the date on which notice of terminationwas given+ and b& in respect of other taxes, for taxable periods beginning on or after the expirationof the ;.month period beginning on the date on which notice of termination was given"

0- 0T-%SS D%)%5, the undersigned, being dul# authori9ed thereto b# theirrespective Governments, have signed this Convention"

*-% at Brussels, in duplicate, in the %nglish language, this twent#.seventh da# of -ovember, $;"

5) TD% G4%)-2%-T 5 5) TD% G4%)-2%-T 5TD% U-0T%* STAT%S 5 A2%)0CA TD% K0-G*2 5 B%EG0U2

$'

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