Transitional provisions for Austria. (1) During the transitional period referred to in Article 10 of the Directive, where the beneficial owner is resident in Montserrat and the paying agent is established in Austria, Austria shall apply a withholding tax at a rate of 15% during the first three years of the transitional period, 20% for the subsequent three years and 35% thereafter. During this period Austria shall not be required to apply automatic exchange of information.
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