(1) This Convention shall apply to persons who are residents of one or both of the Contracting States.

(2) For the purposes of this Convention, income or gains derived by or through an entity, partnership or other structure that is treated as fiscally transparent under the tax law of either Contracting State shall be considered to be income or gains of a resident of a Contracting State but only to the extent that the income or gain is treated, for purposes of taxation by that State, as the income or gain of a resident of that State.

(3) This Convention shall not affect the taxation, by a Contracting State, of its residents except with respect to the benefits granted under paragraph 2 of Article 9 and Articles 18, 19, 22, 23, 24 and 26.