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iv. Levies, duties, fines or exemptions relating to the importation, exportation, transhipment, transit,

storage and circulation of good, as well as prohibitions, restrictions and other similar controls on the

movement of controlled items across national Boundaries.

2. This Agreement shall apply also to any identical or substantially similar taxes that are imposed after the

date of signature of the Agreement in addition to or in place of the existing taxes if the Parties so agree. 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

DEFINITIONS

1. For the purposes of this Agreement, unless otherwise defined:

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;

b) The term “Turks and Caicos Islands” when used in a geographical sense comprises the territory of Turks

and Caicos Islands in accordance with the International Law and the legislation of Turks and Caicos Islands;

c) “Competent authority” means:

i) In respect of Portugal, the Minister of Finance, the Director General of Taxation (Director-Geral dos

Impostos) or their authorized representative;

ii) In respect of Turks and Caicos, the Permanent Secretary in the Ministry of Finance or a person or authority

designated by him in writing;

d) “Person” includes an individual, a company and any other body of persons;

e) “Company” means any body corporate or any entity that is treated as a body corporate for tax purposes;

f) “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;

g) “Principal class of shares” means the class or classes of shares representing a majority of the voting power

and value of the company;

h) “Recognised stock exchange” means any stock exchange agreed upon by the competent authorities of

the Parties;

i) “Collective investment fund or scheme” means any pooled investment vehicle, irrespective of legal form;

j) “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) “Tax” means any tax to which the Agreement applies;

l) “Requesting Party” means the Party requesting information;

m) “Requested Party” means the Party requested to provide information;

n) “Information-gathering measures” means laws and administrative or judicial procedures that enable a Party

to obtain and provide the requested information;

o) “Information” means any fact, statement, document or record in whatever form;

p) “Tax matters” means all tax matters including criminal tax matters;

q) “Criminal tax matters” means tax matters involving intentional conduct whether before or after the entry

into force of this Agreement which is liable to prosecution under the criminal laws of the requesting Party;

r) “Criminal laws” means all criminal laws designated as such under the respective law of the Parties

irrespective of whether such are contained in the tax laws, the criminal code or other statutes.