Introducing the “In Favour Of” filter in Case Laws.
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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Interest Taxed at Max 10% for Cross-Border Payments; Exemptions for Government Entities and Banks.</h1> Interest arising in a Contracting State and paid to a resident of the other Contracting State may be taxed in the recipient's state, but also in the state where it arises, with a maximum tax rate of 10% if the recipient is the beneficial owner. Exemptions apply if the interest is derived and beneficially owned by certain government entities or banks. The term 'interest' includes income from debt-claims, government securities, bonds, and debentures, but excludes penalty charges for late payment. Special provisions apply if the interest is connected to a permanent establishment or fixed base, or if there is a special relationship affecting payment amounts.
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