<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>10</td><td>5% / 12.5%</td><td>5%: beneficial owner is a company (other than a partnership) which holds directly at least 50 per cent of the capital of the company paying the dividends, or has invested 20 million US dollars or more. 12.5%: all other cases.</td></tr><tr><td>Interest</td><td>11</td><td>10%</td><td>Exempt for the Government, a local authority, the Central Bank, any financial institution or any pension fund wholly owned by the Government.</td></tr></table>