ANNEX TO THE AGREEMENT SUBSTANCE OF NOTES TO BE EXCHANGED PURSUANT TO ARTICLE 7 OF THE AGREEMENT BETWEEN THE GOVERNMENT OF THE UNITED STATES OF AMERICA AND THE GOVERNMENT OF SAINT LUCIA FOR THE EXCHANGE OF INFORMATION WITH RESPECT TO TAXES
The respective delegations agree that the following understandings and undertakings will be included in an exchange of notes between the authorized representatives of the Contracting States.
1. That the respective Contracting States hereby confirm that each side has met all constitutional and statutory requirements necessary to effectuate the Agreement, including enabling legislation by which each of the respect the competent authorities has authority:
(i) to obtain and provide information from financial institutions; and
(ii) to obtain information for the Contracting State as though the information was required for the enforcement of its own tax laws.
2. That the information to be exchanged under the provision of Article 4, Paragraph 1, includes information to effect the determination, assessment, and collection of tax, the recovery and enforcement of tax claims, or the investigation or prosecution of tax crimes or crimes involving the contravention of tax administration.
3. That, if specifically requested by the competent authority of the applicant State, the requested State shall:
(i) specify the time and place for the taking of testimony or the production of books, papers, records, and other tangible property;
(ii) place the individual giving testimony or producing books, papers, records and other tangible property under oath;
(iii) examine the individual producing books, papers, records and other tangible property regarding the purpose for which and the manner in which the item produced is or was maintained;
(iv) certify wither that procedures requested by the competent authority of the applicant State were followed or that the procedure requested could not be followed, with an explanation of the deviation and reason therefor;
4. That the competent authority of the requested State shall allow representatives of the applicant State to interview individuals and examine books and records with the consent of the individuals contacted.
5. That the laws of the respective contracting States do not permit bearer shares of companies organized pursuant to those laws.
6. That the matter as to what constitutes extraordinary costs under Article 5 will be addressed by the contracting States in a subsequent exchange of notes.
7. That the program referred to in Article 5, paragraph 1, may include, in addition to the exchanges specified in Article 4, other measures to improve tax compliance such as exchange of technical know- how, development of new audit techniques, identification of new areas of non-compliance, and joint studies of non-compliance areas.