UniCredit Bank S.A.
Summary:
DTT between Romania and India can now be applied to eligible income
Fri, 18/04/2014
The double taxation treaty between Romania and India, signed on 8 March 2013 and in force from 16 December 2013, is now effective with respect of taxes on income withheld at source - paid on or after 1 January 2014 in Romania and on or after 1 April 2014 in India.
The maximum withholding tax rates provided for in the treaty are:
- with respect to dividend income - 10%
- with respect to interest income - 10%
An update version of the list of DTTs signed by Romania is available in the Romanian section of our GSS website, under Documents.
Impact on investors: The newly effective DTT with India provides for lower withholding tax rates on dividend and interest income to eligible tax residents of both countries.