In the light of the experience of operating the Agreement, or to reflect changing circumstances, either Government may wish to propose a variation in the terms of this Agreement. If so, it is understood the other Government will agree to hold timely discussions with a view to revising the terms of the Agreement.
- a)The competent authorities may initiate discussions in case:
- (i)the Kingdom of the Netherlands enters into an agreement with another jurisdiction comparable to Bermuda which provides for other forms of exchange of information;
- (ii)Bermuda enters into an agreement with another jurisdiction which provides for other forms of exchange of information;
- (iii)Bermuda introduces new legislation which enables other forms of exchange of information.
- b.If the Kingdom of the Netherlands enters into arrangements with another jurisdiction comparable to Bermuda for the provision of information with respect to taxes that are less burdensome in any material respect than the provisions of the Agreement, Bermuda may initiate discussions with the Netherlands with a view to modifying the Agreement to have similar effect.