Page 467 - Regional Comprehensive Economic Partnership (RCEP)

(i) relating to fissionable and fusionable materials or (b) to the extent that Article 10.9 (Transfers) grants rights or
the materials from which they are derived; imposes obligations with respect to such taxation
measures.
(ii) relating to the traffic in arms, ammunition and
implements of war and to such traffic in other goods 4. Nothing in this Agreement shall affect the rights and obligations
and materials, or relating to the supply of services, of any Party under any tax convention. In the event of any
as carried on directly or indirectly for the purpose of inconsistency relating to taxation measures between this
supplying or provisioning a military establishment; Agreement and any such tax convention, the latter shall prevail.

(iii) taken so as to protect critical public infrastructures 5. Nothing in this Agreement shall oblige a Party to extend to any
7
including communications, power, and water other Party the benefit of any treatment, preference, or privilege
infrastructures; arising from any existing or future tax convention by which the
Party is bound.
(iv) taken in time of national emergency or war or other
emergency in international relations; or
Article 17.15: Measures to Safeguard the Balance of Payments
(c) to prevent any Party from taking any action in pursuance
of its obligations under the United Nations Charter for the 1. Where a Party is in serious balance of payments and external
maintenance of international peace and security. financial difficulties or under threat thereof, it may:

(a) in the case of trade in goods, adopt or maintain restrictive
Article 17.14: Taxation Measures import measures in accordance with GATT 1994 and the
Understanding on the Balance-of-Payments Provisions;
1. For the purposes of this Article:
(b) in the case of trade in services, adopt or maintain
(a) tax convention means an agreement for the avoidance of restrictions on trade in services on which it has undertaken
double taxation or other international taxation agreement commitments, including on payments or transfers for
or arrangement; and transactions related to such commitments.

(b) taxes and taxation measures do not include any import 2. In the case of investments, where a Party is in serious balance of
or customs duties. payments and external financial difficulties or under threat
thereof, or where, in exceptional circumstances, payments or
2. Except as provided in this Article, nothing in this Agreement shall transfers relating to capital movements cause or threaten to
apply to taxation measures. cause serious difficulties for macroeconomic management, it may
adopt or maintain restrictions on payments or transfers related to
3. This Agreement shall only grant rights or impose obligations with covered investments as defined in Article 10.1 (Definitions).
respect to taxation measures:
3. Restrictions adopted or maintained under subparagraph 1(b) or
(a) to the extent that the WTO Agreement grants rights or paragraph 2 shall:
imposes obligations with respect to such taxation
measures; (a) be consistent with the IMF Articles of Agreement as may
be amended;

(b) avoid unnecessary damage to the commercial, economic,
7 For greater certainty, this includes critical public infrastructures whether publicly or and financial interests of any other Party;
privately owned.

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