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Article 2

JURISDICTION

A requested Party is not obligated to provide information which is neither held by its authorities nor in the

possession of or obtainable by persons who are within its territorial jurisdiction.

Article 3

TAXES COVERED

1. This Agreement shall apply to the following taxes:

a) In respect of 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).

b) In respect of the Saint Kitts and Nevis:

i. All taxes imposed and administered by the Government of St. Kitts and Nevis.

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 “Saint Kitts and Nevis” means the twin island Federation of Saint Kitts (Saint Christopher) and

Nevis and when used in a geographical sense, means the territories of Saint Kitts and Nevis.

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 the Saint Kitts and Nevis, the Financial Secretary or the Financial Secretary’s authorized

representative,

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.

The term “public collective investment fund or scheme” means any collective investment fund or scheme provided