https://www.taxtmi.com/acts?id=8088 Interest paid to a resident beneficial owner of the other Contracting State may be taxed in that other State, while the source State may also tax such interest subject to a capped rate when the recipient is the beneficial owner. Exemptions apply for interest paid to specified government bodies and agreed financial institutions. Interest is defined broadly as income from debt claims but excludes late payment penalties. Exceptions apply where interest is effectively connected with a permanent establishment or fixed base, and special-relationship adjustments limit treaty application to the arm's length portion. en-us Sat, 19 Jan 2008 22:45:54 +0530 Mon, 25 Nov 2024 14:36:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=8088 Interest paid to a resident beneficial owner of the other Contracting State may be taxed in that other State, while the source State may also tax such interest subject to a capped rate when the recipient is the beneficial owner. Exemptions apply for interest paid to specified government bodies and agreed financial institutions. Interest is defined broadly as income from debt claims but excludes late payment penalties. Exceptions apply where interest is effectively connected with a permanent establishment or fixed base, and special-relationship adjustments limit treaty application to the arm's length portion. Act-Rules DTAA Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=8088