ARTICLE 21
Income not expressly mentioned
Items of income of a resident of a Contracting State which are not expressly mentioned in the foregoing Articles of this Agreement shall be taxable only in that Contracting State except that, if such income is derived from sources within the other Contracting State, it may also be taxed in that other Contracting State.
CHAPTER IV
TAXATION OF CAPITAL ARTICLE 22
Capital
1. Capital represented by immovable property, as defined in paragraph 2 of Article 6 may be taxed in the Contracting State in which such property is situated.
2. Capital represented by movable property forming part of the business property of a permanent establishment of an enterprise, or by movable property pertaining to a fixed base used for the performance of professional services, may be taxed in the Contracting State in which the permanent establishment or fixed base is situated.
3. Ships and aircraft operated in international traffic, and movable property pertaining to the operation of such ships and aircraft, shall be taxable only in the Contracting State in which the place of effective management of the enterprise is situated.
4. All other elements of capital of a resident of a Contracting State shall be taxable only in that State.
CHAPTER V
ELIMINATION OF DOUBLE TAXATION ARTICLE 23
Exemption and credit methods
1. In the case of Belgium, double taxation shall be avoided as follows:
(a) Where a resident of Belgium derives income which may be
taxed in Thailand in accordance with the provisions of the
Agreement and which is not subject to the provisions of
subparagraphs (b), (c) and (d) below, or possesses
elements of capital which may be taxed in Thailand in
accordance with the provisions of the Agreement, Begium
shall exempt such income and such elements of capital
from tax but may, in calculating the amount of tax on the
remaining income or capital of that resident, apply to rate of
tax which would have been applicable if such income or
elements of capital had not been exempted.
(b) In the case of dividends taxable in accordance with
paragraph 2 of Article 10 and not exempt from Belgian tax
according to subparagraph (d) below, interest taxable in
accordance with paragraphs 2 or 7 of Article 11 and royalties
taxable in accordance with paragraphs 2 or 5 of Article 12,
not including gains dealt with in paragraph 6 of Article 12, the
fixed proportion in respect of the foreign tax for which
provision is made under Belgian law shall, under the
conditions and at the rate provided for by such law, be
allowed as a credit against Belgian tax relating to such
income.
(c) Where a resident of Belgium derives income to which the
provisions of Article 21 apply and which has been taxed in
Thailand, the amount of Belgian tax attributable to such
income shall not exceed the amount which would be charged
according to Belgian law if such income were taxed as
earned income derived from sources outside Belgium and
subject to foreign tax.
(d) Where a company which is a resident of Belgium owns
shares or their rights in a company with share capital which
is a resident of Thailand and which is cubject to Thai tax on
its profits, the dividends which are paid to it by the latter
company and which may be taxed in Thailand in accordance
with paragraph 2 of Article 10 shall be exempt from the
corporate income tax in Belgium to the extent that exemption
would have been accorded if the two compaines had been
residents of Belgium.
(e) Where, in accordance with Belgian law, losses of an
enterprise carried on by a resident of Belgium which are
attributable to a permanent establishment situated in
Thailand have been effectively deducted from the profits of
that enterprise for its taxation in Belgium, the exemption
provided in subparagraph (a) shall not apply in Belgium to
the profits of other taxable periods attributable to that
establishment to the extent that those profits have also been
exempted from tax in Thailand by reason of compensation
for the said losses.
2. In the case of Thailand, double taxation shall be avoided as follows:
(a) Belgian tax payable in respect of income derived from
Belgium shall be allowed as a credit against Thai tax
payable in respect of that income. The credit shall not,
however, exceed that part of the Thai tax, as computed before
the credit is given, which is appropriate to such item of
income. However, where such income is a dividend paid by
a company which is a resident of Belgium to a company
which is a resident of Thailand and which owns not less
than 25 per cent of the voting shares of the company paying
the dividend, Thailand shall exempt such income from tax
but may, in calculating tax on the remaining income of that
person, apply the rate of tax which would have been
applicable if the exempted income had not been so
exempted.
(b) where a resident of Thailand owns capital which, in
accordance with the provisions of this agreement, may be
taxed in Belgium, Thailand shall exempt such capital from
tax.
CHAPTER VI
SPECIAL PROVISIONS ARTICLE 24
Non-Discrimination
1. The nationals of a Contracting State, whether or not they are residents of one of the Contracting States, shall not be subjected in the other Contracting State to any taxation or any requirement connected therewith which is other or more burdensome than the taxation and connected requirements to which nationals of that other State in the same circumstances are or may be subjected.
2. The taxation on a permanent establishment which an enterprise of a Contracting State has in the other Contracting State shall not be less favourably levied in that other State than taxation levied on enterprises of that other State carrying on the same activities.
This provision shall not be construed as obliging a Contracting State to grant to residents of the other Contracting State any personal allowances, reliefs and reductions for taxation purposes on account of civil status of family responsibility which it grants to its own residents.
3. Except where the provisions of Article 9, of paragraph 7 of Article 11 or of paragraph 5 of Article 12 apply, interest, royalties and other disbursements paid by an enterprise of a Contracting State to a resident of the other Contracting State shall, for the purpose of determining the taxable profits of such enterprise, be deductible under the same conditions as if they had been paid to a resident of the first-mentioned State.
Similarly, any debts of a Contracting State to a resident of the other Contracting State shall, for the purpose of determining the taxable capital of such enterprise, be deductible as if they had been contracted to a resident of the first-mentioned State.
4. Enterprises of a Contracting State, the capital of which is wholly or partly owned or controlled, directly or indirectly, by one or more residents of the other Contracting State, shall not be subjected in the first-mentioned Contracting State to any taxation or any requirement connected therewith which is other or more burdensome than the taxation and connected requirements to which other similar enterprises of that first-mentioned State are or may be subjected.
5. Nothing in this Article shall be construed as preventing Belgium:
(a) from taxing the total amount of the profits attributable to a
permanent establishment in Belgium of a company being a
resident of Thailand or of an association having its place of
effective management in Thailand at the rate of tax provided
by the Belgian law, but this rate may not exceed the
maximum rate applicable to the profits of companies which
are residents of Belgium;
(b) from imposing the movable property prepayment on
dividends derived from a holding which is effectively
connected with a permanent establishment or a fixed base
maintained in Belgium by a company which is a resident of
Thailand or by an association which has its place of effective
management in Thailand and is taxable as a body corporate
in Belgium.
6. In this Article the term taxation means taxes of every kind and description.
ARTICLE 25
Mutual Agreement Procedure
1. Where a resident of a Contracting State considers that the actions of one or both of the Contracting States result or will result for him in taxation not in accordance with this Agreement, he may, notwithstanding the remedies provided by the national laws of those States, present his case to the competent authority of the Contracting State of which he is a resident or, if his case comes under paragraph 1 of Article 24, to that of the Contracting State of which he is a national. This case must be presented within three years from the first notification of the action giving rise to taxation not in accordance with the Agreement.
2. The competent authority shall endeavour, if the objection appears to it to be justified and if it is not itself able to arrive at an appropriate solution, to resolve the case by mutual agreement with the competent authority of the other Contracting State, with a view to the avoidance of taxation which is not in accordance with the Agreement.
3. The competent authorities of the Contracting States shall endeavour to resolve by mutual agreement any difficulties or doubts arising as to the application of the agreement.
4. The competent authorities of the Contracting State shall agree on administrative measures necessary to carry out the provisions of the Agreement, particularly on the proofs to be furnished by residents of either Contracting State in order to benefit in the other Contracting State from the exemptions and reductions in tax provided for in the Agreement. When it seems advisable in order to reach agreement to have an oral exchange of opinions, such exchange may take place through a Commission consisting of representatives of the competent authorities of the Contracting States.
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