(hereinafter referred to as “Portuguese tax”);

b) in Barbados:

(i) the income tax (including premium income tax);

(ii) the corporation tax (including the tax on branch profits); and

(iii) the petroleum winning operations tax;

(hereinafter referred to as “Barbados tax”).

4. The Convention shall apply also to any identical or substantially similar taxes

that are imposed after the date of signature of the Convention in addition to, or in place

of, the existing taxes. The competent authorities of the Contracting States shall notify

each other of any significant changes that have been made in their taxation laws.

CHAPTER II

DEFINITIONS

ARTICLE 3

GENERAL DEFINITIONS

1. For the purposes of this Convention, unless the context otherwise requires:

a) the term “Portugal” when used in a geographical sense comprises the territory of the Portuguese Republic in accordance with the International

Law and the Portuguese legislation, including its territorial sea, as well as

those maritime areas adjacent to the outer limit of the territorial sea,

comprising the seabed and subsoil thereof, over which the Portuguese

Republic exercises sovereign rights or jurisdiction;

b) the term “Barbados” means the territory of Barbados in accordance with international law and the national law of Barbados, including the territorial

sea and any maritime areas adjacent to the outer limit of the territorial sea

of Barbados within which Barbados may exercise its sovereign rights and

jurisdiction to explore, exploit and preserve the seabed, subsoil and natural

resources;

c) the terms “a Contracting State” and “the other Contracting State” mean Portugal or Barbados as the context requires;

d) the term “tax” means Portuguese tax or Barbados tax, as the context requires;

e) the term “person” includes an individual, a company and any other body of persons;

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