ARTICLE 26
EXCHANGE OF INFORMATION

1.         The competent authorities of the Contracting State shall exchange such information as is necessary for carrying out the provisions of this Convention or of the domestic laws of the Contracting State concerning taxes covered by the Convention insofar as the taxation thereunder is not contrary to the Convention. The exchange of information is not restricted by Article 1. Any information received by a contracting State shall be treated as secret in the same manner as information obtained under the domestic laws of that State and shall be disclosed only to persons or authorities (including courts and administrative bodies) involved in the assessment or collection of, the enforcement or prosecution in respect of, or the determination of appeals in relation to, the taxes covered by the Convention. Such persons or authorities shall use the information only for such purposes. They may disclose the information in public court proceedings or in judicial decisions. The information received will be treated as secret on request of the Contracting State: giving the information.

2.         In no case shall the provisions of paragraph 1 be construed so as to impose on a Contracting State the obligation:

            (a)        to carry out administrative measures at variance with the

                         laws and administrative practice of that or of the other

                         Contracting State;

            (b)        to suppy information which is not obtainable under the laws

                         or in the normal course of the administration of that or of the

                         other Contracting State;

            (c)        to supply information which would disclose any

                         trade,business, industrial, commercial or professional

                         secret or trade process, or information, the disclosure of

                         which would be contrary to public policy (ordre public).

ARTICLE 27
DIPLOMATIC AGENTS AND CONSULAR OFFICIALS

            Nothing in this Convention shall affect the fiscal privileges of diplomatic agents or consular officials under the general rules of international law or under the provisions of special agreements.

ARTICLE 28
ENTRY INTO FORCE

1.         The Contracting State shall notify each other that the constitutional requirements for the entry into force of this Convention have been complied with.

2.         This Convention shall enter into force sixty days after the date of the letter of the notifications referred to in paragraph 1 and its provisions shall have effect:

            (a)        in respect of taxes withheld at source, on amounts of income

                         paid or remitted on or after 1 January in he calendar year next

                         following the year in which the Convention enters into force;

            (b)        in respect of other taxes, on income on such taxes

                         chargeable for any taxable year or accounting period

                         beginning on or after 1 January in the calendar year next

                         following the year in which the Convention enters into force.

ARTICLE 29
TERMINATION

            This Convention shall remain in force until terminated by one of the Contracting parties. Either Contracting Party may terminate the Convention, through diplomatic channels, by giving notice of termination a least six months before the end of any calendar year following after the period of five years from the date on which the Convention enters into force. In such event the Convention shall cease to have effect:

            (a)        in respect of taxes withheld at source, on amounts of income

                         paid or remitted on or after 1 January in the calendar year

                         next following the year in which the notice is given;

            (b)        in respect of other taxes on income, on such taxes

                         chargeable for any taxable year or accounting period

                         beginning on or after 1 January in the calendar year next

                         following the year in which the notice is given.

            IN WITHNESS WHEREOF the undersigned, duly authorized hereto, have signed this Convention.

            DONE in duplicate at Bangkok, this day of 18th May 1989, in the English language.

PROTOCOL

            A the signing of the Convention between the Government of the Kingdom of Thailand and the Government of the Hungarian People’s Republic for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income the undersigned have agreed upon the following  provisions which shall from an integral part of the Convention.

1.         With reference to Article 5, paragraph 1, it is understood that the term “place of business” includes also a place of production.

2.         With reference to Article 5, paragraph 3, subparagraph (a) and b), it is understood that the term “delivery” refers only to delivery which is not regular and not accompanied by sale.

3.         With reference to Article 5, paragraph 4, subparagraph (c), and paragraph 6, it is understood that if there is any doubt regarding the control of an enterprise, the competent authorities of the Contracting States shall settle the matter by mutual agreement.

4.         It is understood that at present the tax laws of both Contracting States do not treat interest on supplier’s credit as interest covered by Article 11. If in the future either Contracting State changes its domestic tax law to the effect that interest on supplier’s credit being subjected to the provision of Article 11. paragraph 2, subparagraph (b) , the two Contracting States shall then discuss again with a view to lowering the tax rate on such interest.

5.         With reference to Article 17, it is understood that the provisions of paragraphs 1 and 4 shall not apply concurrently.

            IN WITNESS WHEREOF the undersigned, duly authorized thereto, have signed this protocol.

            DONE in duplicate at Bangkok, this day of 18th May 1989, in the English language.

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