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% Between States; Exemptions for Government-Owned Interest; Special Rules for Excess Interest.</h1> Interest arising in one Contracting State and paid to a resident of the other may be taxed in both states, with a maximum tax of 10% if the recipient is the beneficial owner. Exemptions apply for interest beneficially owned by the government or central bank of the other state. Interest includes income from various debt-claims but excludes penalty charges. Provisions do not apply if the interest is connected to a permanent establishment or fixed base. Interest is deemed to arise where the payer is located, and excess interest due to special relationships is subject to standard taxation laws.
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