An amended DTT between Norway and Serbia provides for the following benefits and changes:
Article 10 / Dividends
- The tax rate applied will be 5%, if the recipient holds participation of at least 25% in the issuer paying the income
- The tax rate applied will be 10%, if the recipient holds participation of less than 25% in the issuer paying the income
Article 11 / Interest
- The tax rate applied will be 10%
Article 13 / Capital Gains Tax
- The tax rate applied will be 0%, if investors dispose of shares of an issuer, less than 50% of the total assets of which are located in Serbia
- The tax rate applied will be 20%, if investors dispose of shares of an issuer, more than 50% of the total assets of which are located in Serbia
Investors from Norway looking to avail of the more favourable DTT rates are obliged to provide Certificate of Tax Residence issued in 2016.
The revised DTT between Norway and Serbia will come into force as of 1 January 2016.
Impact on investors: The DTT between Norway and Serbia will create a more favorable tax environment for eligible investors from both countries.