ARTICLE 9
Associated Enterprises
1. Where:
(a) an enterprise of a Contracting State participates directly or indirectly in the
management, control, or capital of an enterprise of the other Contracting State; or
(b) the same persons participate directly or indirectly in the management, control,
or capital of an enterprise of a Contracting State and an enterprise of the other
Contracting State,
. and in either case conditions are made or imposed between the two enterprises in their
commercial or financial relations which differ from those which would be made between
independent enterprises, then any profits which, but for those conditions, would have
accrued to one of the enterprises, but by reason of those conditions have not so accrued,
may be included in the profits of that enterprise and taxed accordingly
2. Where a Contracting State includes in the profits of an enterprise of that State, and taxes
accordingly, profits on which an enterprise of the other Contracting State has been charged to tax
in that other State, and the other Contracting State agrees that the profits so included are profits
that would have accrued to the enterprise of the first-mentioned State if the conditions made
between the two enterprises had been those that would have been made between independent
enterprises, then that other State shall, in accordance with the provisions of Article 26 (Mutual
Agreement Procedure), make an appropriate adjustment to the amount of the tax charged therein
on those profits. In determining such adjustment, due regard shall be paid to the other provisions
of this Convention.