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of <h1>Interest Taxed at 10% Max Between States, Exemptions for Government Entities & Specific Institutions, Special Relationships Regulated</h1> Interest arising in one Contracting State and paid to a resident of the other may be taxed in the latter, but also in the former, with a maximum tax rate of 10% if the beneficial owner is a resident of the other State. Exemptions apply if the interest is derived and beneficially owned by certain government entities or agreed institutions. 'Interest' includes income from debt claims, government securities, and bonds. Provisions do not apply if the interest is connected to a business or services conducted through a permanent establishment. Special relationships affecting interest amounts are regulated to prevent excessive taxation.
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