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- 1. Each of the Contracting States shall notify the other, through diplomatic channels in writing, of the completion of the procedures required by its law for the bringing into force of this Agreement. This Agreement shall enter into force on the date of the later of these notifications and shall thereupon have effect:
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- a) in China, in respect of profit, income and capital gains arising in any tax year beginning on or after 1st January in the calendar year next following that in which this Agreement enters into force;
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- b) in the United Kingdom,
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- (i) in respect of income tax and capital gains tax, for any year of assessment beginning on or after 6th April next following the date on which this Agreement enter into force;
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- (ii) in respect of corporation tax, for any financial year beginning on or after 1st April next following the date on which this Agreement enters into force;
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- 2. The Agreement between the Government of the People’s Republic of China and the Government of the United Kingdom of Great Britain and Northern Ireland for the Reciprocal Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income and Capital Gains, signed at Beijing on July 26th, 1984, as amended by the protocol signed at Beijing on September 2nd 1996 (the prior Agreement) shall cease to have effect in relation to any tax with effect from the date on which this Agreement has effect in relation to that tax in accordance with paragraph 1 of this Article.
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- 3. Notwithstanding the entry into force of this Agreement, an individual who is entitled to the benefits of Article 21 (Teachers and Researchers) and Article 22 (Students, Apprentices and Trainees) of the prior Agreement at the time of the entry into force of this Agreement shall continue to be entitled to such benefits until such time as the individual would have ceased to be entitled to such benefits if the prior Agreement had remained in force.