CONVENTION BETWEEN THE PORTUGUESE REPUBLIC AND

BARBADOS FOR THE AVOIDANCE OF DOUBLE TAXATION

AND THE PREVENTION OF FISCAL EVASION WITH RESPECT

TO TAXES ON INCOME

The Portuguese Republic and Barbados,

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:

CHAPTER I

SCOPE OF THE CONVENTION

ARTICLE 1

PERSONS COVERED

This Convention shall apply to persons who are residents of one or both of the

Contracting States.

ARTICLE 2

TAXES COVERED

1. This Convention shall apply to taxes on income imposed on behalf of a

Contracting State or of its political or administrative subdivisions or local authorities,

irrespective of the manner in which they are levied.

2. 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 movable or

immovable property, taxes on the total amounts of wages or salaries paid by enterprises,

as well as taxes on capital appreciation.

3. The existing taxes to which this Convention shall apply are, in particular:

a) in Portugal:

(i) the personal income tax (Imposto sobre o Rendimento das Pessoas

Singulares – IRS); (ii) the corporate income tax (Imposto sobre o Rendimento das Pessoas

Colectivas – IRC); and (iii) the local surtax on corporate income tax (Derrama);

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