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of <h1>Article 11 of DTAA: Taxation of Interest Capped at 15% for Beneficial Owners, 10% for Banks</h1> Article 11 of the Double Taxation Avoidance Agreement (DTAA) between Nepal and another contracting state addresses the taxation of interest. Interest arising in one contracting state and paid to a resident of the other may be taxed in both states, but if the recipient is the beneficial owner, the tax in the source state is capped at 15%. For banks conducting bona fide banking business, this cap is 10%. Interest is exempt if derived by the government or central bank of the other state. Definitions and conditions for when interest arises and exceptions related to permanent establishments are also provided.
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