Interest

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....0 per cent of the gross amount of the interest. 3. Notwithstanding the provisions of paragraph (2) interest arising in a Contracting State and paid to the Government of the other Contracting State or local authority thereof, the Central Bank of that other Contracting State, or and agency wholly owned by that Government or local authority shall be exempt from tax of the first-mentioned Contracti....

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.... from which the interest arises is effectively connected. In such a case, the provisions of article 7 shall apply. 6. Interest shall be deemed to arise in a Contracting State when the payer is that Contracting State itself, a political sub-division, local authority or a resident of that State. Where, however, the person paying the interest whether he is a resident of a Contracting State or not,....