57 | II Série A - Número: 107S1 | 30 de Junho de 2010

a) In Portugal: i. Personal income tax (imposto sobre o rendimento das pessoas singulares – IRS); ii. Corporate income tax (imposto sobre o rendimento das pessoas colectivas – IRC); iii. Local surtax on corporate income tax (Derrama); iv. Stamp duty on gratuitous transfers (Imposto do Selo sobre as transmissões gratuitas); and

b) In the Cayman Islands, any tax imposed by the Cayman Islands which is substantially similar to existing taxes of Portugal to which this agreement applies.

2. This Agreement shall also apply to any identical or any substantially similar taxes imposed after the date of signature of the Agreement in addition to or in place of the existing taxes. The competent authorities of the Parties shall notify each other of any substantial changes to the taxation and related information gathering measures covered by the Agreement. Article 4.º Definitions

1. For the purposes of this Agreement, unless otherwise defined: a) The term ―Party‖ means Portugal or the Cayman Islands as the context requires; b) The term ―Portugal‖ means territory of the Portuguese Republic situated in the European continent, the archipelagos of Azores and Madeira, the territorial sea and inland waters thereof as well as the continental shelf and any other area wherein the Portuguese State exercises sovereign rights or jurisdiction in accordance with the rules of international law and the laws of the Portuguese Republic; c) The term ―the Cayman Islands‖ means the territory of the Cayman Islands and includes the territorial sea, areas within the maritime boundaries of the Cayman Islands and any area within which in accordance with international law the rights of the Cayman Islands with respect to the seabed and sub-soil and their natural resources may be exercised; d) The term ―competent authority‖ means: (i) In Portugal, the Minister of Finance, the Director General of Taxation (Director-Geral dos Impostos) or their authorized representative; (ii) In the Cayman Islands, the Tax Information Authority or a person or authority designated by it.
e) The term ―person‖ includes an individual, a company and any other body of persons; f) The term ―company‖ means any body corporate or any entity that is treated as a body corporate for tax purposes; g) The term ―publicly traded company‖ means any company whose principal class of shares is listed on a recognised stock exchange provided its listed shares can be readily purchased or sold by the public. Shares can be purchased or sold ―by the public‖ if the purchase or sale of shares is not implicitly or explicitly restricted to a limited group of investors; h) The term ―principal class of shares‖ means the class or classes of shares representing a majority of the voting power and value of the company; i) The term ―recognised stock exchange‖ means any stock exchange agreed upon by the competent authorities of the Parties; j) The term ―collective investment fund or scheme‖ means any pooled investment vehicle, irrespective of legal form. The term ―public collective investment fund or scheme‖ means any collective investment fund or scheme provided the units, shares or other interests in the fund or scheme can be readily purchased, sold or redeemed by the public. Units, shares or other interests in the fund or scheme can be readily purchased, sold or redeemed ―by the public‖ if the purchase, sale or redemption is not implicitly or explicitly restricted to a limited group of investors; k) The term ―tax‖ means any tax to which the Agreement applies; l) The term ―applicant Party‖ means the Party requesting information;