<h3>Tax Rates</h3><table><tr><th>Item</th><th>Article reference</th><th>Applicable Rates</th><th>Comments</th></tr><tr><td>Dividends</td><td>Article 10</td><td>0% / 5% / 10%</td><td>0% if beneficial owner is the other State, its subdivisions or a recognised pension fund (Protocol widens State); 5% for a company directly holding at least 10% of capital for 365 days; 10% otherwise. PE/fixed base: Article 7 or 14.</td></tr><tr><td>Interest</td><td>Article 11</td><td>5% / 0% (residence state only)</td><td>Income from debt-claims. 5% cap; residence state only where owner or payer is a State entity or pension fund (Protocol applies), the loan is State-guaranteed or owner is an unrelated financial institution.</td></tr></table>