New DTT Between Austria And Taiwan

UniCredit Bank Austria AG
Summary: 
New DTT between Austria and Taiwan became effective as of 1 January, 2015.
Fri, 16/01/2015

The double taxation treaty (DTT) and accompanying protocol, signed between Austria and Taiwan in July 2014, entered into force already and will apply to amounts paid on or after 1 January, 2015 in both countries. The treaty will have effect in respect of other taxes levied for periods beginning on or after 1 January, 2015. The maximum withholding tax rates stipulated in the treaty are as follows:

Dividends:

10%, if the beneficial owner of the dividends is a resident of the other territory

Interest Income:

10 %, if the beneficial owner of the dividends is a resident of the other territory
0 %, if interest is paid:
 
  - to the authority administering the other territory, subdivision or local authority or the Central Bank thereof or any financial institution wholly owned or controlled by the other territory;
  - in respect of a loan granted, guaranteed or insured by an approved financial institution of the other territory which aims at promoting export;
  - on loans made between banks as long as the beneficial owner is a bank and a resident of the other territory.

The DTT includes provisions for the exchange of information according to international standards. The DTT will be officially published on the homepage of the Republic of Austria (https://www.ris.bka.gv.at/).

Impact on investors: New DTT between Austria and Taiwan became effective as of 1 January, 2015.