Italy (tax/treaty)

GENERAL DEFINITIONS 1. In this Convention, unless the context otherwise requires: a. the term "Italy" means the Italian Republic and includes any area beyond the territorial waters which is designated as an area within which Italy, in compliance with its legislation and in conformity with the International Law, exercises sovereign rights in respect of the exploration and exploitation of the natural resources of the seabed, the subsoil and the superjacent waters; b. the term "Kingdom of Saudi Arabia" means the territory of the Kingdom of Saudi Arabia which also includes the area outside the territorial waters, where the Kingdom of Saudi Arabia exercises its sovereign and jurisdictional rights in their waters, seabed, subsoil and natural resources by virtue of its law and the international law; c. the terms "a Contracting State" and "the other Contracting State " means the Italian Republic or the Kingdom of Saudi Arabia, as the context requires; d. the term "person" includes any individual, any company or any other body of persons, including trusts and foundations; e. the term "company" means any juridical person or any entity which is treated as a juridical person for tax purposes; f. the terms "enterprise of a Contracting State" and "enterprise of the other Contracting State" mean respectively an enterprise carried on by a resident of a Contracting State and an enterprise carried on by a resident of the other Contracting State; g. the term "international traffic" means any transport by a ship or aircraft operated by an enterprise which has its place of effective management in a Contracting State, except when the ship or aircraft is operated solely between places in the other Contracting State; h. the term "nationals" means: i. any individual possessing the nationality of a Contracting State; ii. any legal person, partnership and association deriving their status as such from the laws in force in a Contracting State; (Art. 3 contd.) i. the term "competent authority" means: i. in the case of Italy, the Ministry of Economy and Finance; ii. in the case of the Kingdom of Saudi Arabia, the Ministry of Finance represented by Minister of Finance or his authorized representative. 2. As regards the application of the Convention at any time by a Contracting State, any term not defined therein shall, unless the context otherwise requires, have the meaning that it has at that time under the law of that State for the purposes of the taxes to which the Convention applies, any meaning under the applicable tax laws of that State prevailing over a meaning given to the term under other laws of that State.