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TMI BlogInterestX X X X Extracts X X X X X X X X Extracts X X X X ..... of the other Contracting State, the tax so charged shall not exceed 10 per cent of the gross amount of the interest. 3. Notwithstanding the provisions of paragraph 2, interest arising in a Contracting State shall be exempt from tax in that State provided it is derived and beneficially owned by: (a) in the case of Malaysia: (i) the Government of Malaysia; (ii) the Government of the States; ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ix) the National Housing Bank; and (x) the Small Industrial Development Bank of India; (c) any other institution as may be agreed from time to time between the competent authorities of the Contracting States. 4. The term "interest" as used in this Article means income from debt claims of every kind, whether or not secured by mortgage and whether or not carrying a right to participat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... base. In such case, the provisions of Article 7 or Article 15, as the case may be, shall apply. 6. Interest shall be deemed to arise in a Contracting State when the payer is a resident of that State. Where, however, the person paying the interest, whether he is a resident of a Contracting State or not, has in a Contracting State a permanent establishment or a fixed base in connection with which t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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