Revenue Sharing. 1. The Contracting States levying withholding tax in accordance with article 5, paragraph 1, shall retain 25% of the revenue of the withholding tax and transfer 75% of the revenue to the other Contracting State. 2. If a Contracting State levies withholding tax in accordance with Article 5, paragraph 4, that Contracting State shall retain 25% of the revenue and transfer 75% to the other Contracting State of the revenue of the withholding tax levied on interest payments made to entities referred to in Article 4, paragraph 2, of the Directive, established in the other Contracting State. 3. Such transfers shall take place at the latest within a period of six months following the end of the tax year of the Contracting State of the paying agent in the case of paragraph 1, or of that of the Contracting State of the economic operator in the case of paragraph 2. 4. The Contracting States shall take the necessary measures to ensure the proper functioning of this revenue-sharing system.
Appears in 5 contracts
Samples: Agreement on the Taxation of Savings Income, Agreement on the Taxation of Savings Income, Exchange of Letters Agreement
