Common use of Income from Debt-Claims Clause in Contracts

Income from Debt-Claims. 1. Income from debt-claims arising in a Contracting State and paid to a resident of the other Contracting State may be taxed in that other State. 2. However, such income from debt-claims may also be taxed in the Contracting State in which it arises and according to the laws of that Contracting State, but if the beneficial owner of the income from debt-claims is a resident of the other Contracting State, the tax so charged shall not exceed 10 per cent of the gross amount of the income from debt-claims. 3. Notwithstanding the provisions of paragraph 2, income from debt-claims arising in a Contracting State and paid to the Government, or an entity wholly owned by the Government or the Central Bank of the other Contracting State shall be exempt from tax in the first mentioned Contracting State.

Income from Debt-Claims. 1. Income from debt-claims arising in a Contracting State and paid to a resident of the other Contracting State may be taxed in that other State. 2. However, such income from debt-claims may also be taxed in the Contracting State in which it arises and according to the laws of that Contracting State, but if the beneficial owner of the income from debt-debt- claims is a resident of the other Contracting State, the tax so charged shall not exceed 10 per cent of the gross amount of the income from debt-claims. 3. Notwithstanding the provisions of paragraph 2, income from debt-claims arising in a Contracting State and paid to derived by the GovernmentGovernment of the other Contracting State, a local authority and the Central Bank thereof, any financial institution or an entity any pension fund wholly owned by the Government or the Central Bank of the that other Contracting State State, shall be exempt from tax in the first first-mentioned Contracting State.

Income from Debt-Claims. 1. Income from debt-claims arising in a Contracting State and paid to a resident of the other Contracting State may be taxed in that other State. 2. However, such income from debt-claims may also be taxed in the Contracting State in which it arises and according to the laws of that Contracting State, but if the beneficial owner of the income from debt-claims is a resident of the other Contracting State, the tax so charged shall not exceed 10 per cent of the gross amount of the income from debt-claims. 3. Notwithstanding the provisions of paragraph 2, income from debt-debt- claims arising in a Contracting State and paid to the Government, or an entity wholly owned by the Government or the Central Bank of the other Contracting State shall be exempt from tax in the first mentioned Contracting State.

Income from Debt-Claims. 1. Income from debt-claims arising in a Contracting State and paid to a resident of the other Contracting State may be taxed in that other State. 2. However, such income from debt-claims may also be taxed in the Contracting State in which it arises and according to the laws of that Contracting State, but if the beneficial owner of the income from debt-claims is a resident of the other Contracting State, the tax so charged shall not exceed 10 ­10 per cent of the gross amount of the income from debt-claims. 3. Notwithstanding the provisions of paragraph 2, income from debt-claims arising in a Contracting State and paid to derived by the GovernmentGovernment of the other Contracting State, a local authority and the Central Bank thereof, any financial institution or an entity any pension fund wholly owned by the Government or the Central Bank of the that other Contracting State State, shall be exempt from tax in the first first-mentioned Contracting State.