TMI BlogDividendsX X X X Extracts X X X X X X X X Extracts X X X X ..... t, and according to the laws of that State, but if the recipient is the beneficial owner of the dividends, the tax so charged shall not exceed. (a) 15 per cent of the gross amount of the dividends if the beneficial owner is a company which owns directly at least 20 per cent, of the capital of the company paying the dividends; (b) 20 per cent. of the gross amount of the dividends in all other c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r State independent personal services from a fixed base situated therein and the holding in respect of which the dividends are paid is effectively connected with such permanent establishment or fixed base. In such cases, the provisions of Article 7 or Article 15, as the case may be, shall apply. 5. Where a company which is a resident of a Contracting State derives profits or income from the othe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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