Treaty on Global Currency Transactions Tax

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Treaty on Global Currency Transactions Tax

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PART II Currency [Exchange] Transaction Tax

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TITLE VIII TAXABLE AMOUNT

TITLE VIII TAXABLE AMOUNT

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ARTICLE 11

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§1 The taxable amount shall be everything which constitutes the consideration which has been or is to be obtained by the transferor from the transferee or a third party.

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§2 The taxable amount shall include the gross amount and the incidental expenses. Expenses covered by a separate agreement shall be considered to be incidental expenses.

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§3 In the case of cancellation, refusal of total or partial non-payment, or where the price is reduced after the transaction takes place, the taxable amount shall be reduced accordingly under conditions which shall be determined by the Contracting States. However, in the case of total or partial non-payment, Contacting States may derogate from this rule.

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