S.L. 123.144 Art. 2Arragements to have effect. WITH Desiring to prevention This Contracting 1. This behalf of a irrespective of 2. There on total income, taxes on gains total amounts of appreciation. 3. The a) in the b) in (i) (ii) (iii) (iv) States made in their

It is hereby declared:

(a) that the arrangements specified in the Convention set out in the Schedule to this Order have been made with the Oriental Republic of Uruguay with a view to affording relief from double taxation in relation to the following taxes imposed by the laws of the Oriental Republic of Uruguay:

(i) the tax on business income (Impuesto a las Rentas de las Actividades Económicas -IRAE-);

(ii) the personal income tax (Impuesto a las Rentas de las Personas Físicas -IRPF-);

(iii) the non-residents income tax (Impuesto a las Rentas de los No Residentes -IRNR-);

(iv) the tax for social security assistance (Impuesto de Asistencia a la Seguridad Social -IASS-); and

(v) the capital tax (Impuesto al Patrimonio -IP-);

(b) that it is expedient that those arrangements should have effect;

(c) that the Convention has entered into force on the 13 December 2012. BETWEEN MALTA AND THE ORIENTAL REPUBLIC OF URUGUAY FOR THE AVOIDANCE OF DOUBLE TAXATION AND THE PREVENTION OF FISCAL EVASION RESPECT TO TAXES ON INCOME AND ON CAPITAL

Malta and the Oriental Republic of Uruguay conclude a Convention for the avoidance of double taxation and the of fiscal evasion with respect to taxes on income and on capital,

Have agreed as follows: CHAPTER I SCOPE OF THE CONVENTION

Article 1 PERSONS COVERED Convention shall apply to persons who are residents of one or both of the States. Article 2

TAXES COVERED Convention shall apply to taxes on income and on capital imposed on Contracting State or of its political subdivisions or local authorities, the manner in which they are levied.

shall be regarded as taxes on income and on capital all taxes imposed on total capital, or on elements of income or of capital, including from the alienation of movable or immovable property, taxes on the wages or salaries paid by enterprises, as well as taxes on capital existing taxes to which the Convention shall apply are in particular: Malta: income tax; (hereinafter referred to as "Malta tax"); Uruguay: the tax on business income (Impuesto a las Rentas de las Actividades Económicas -IRAE- ); the personal income tax (Impuesto a las Rentas de las Personas Físicas -IRPF-); the non-residents income tax (Impuesto a las Rentas de los No Residentes -IRNR-); the tax for social security assistance (Impuesto de Asistencia a la Seguridad Social -IASS-); and or in place of, the existing taxes. The competent authorities of the Contracting shall notify each other of any significant changes that have been taxation laws.

CHAPTER II DEFINITIONS Article 3

GENERAL DEFINITIONS