The maximum withholding tax rates are: -   15% on dividends in general and 5% if the beneficial owner is a company which holds directly at least 25% of the capital of the company paying the dividends; -   5% on interest; and -   15% on royalties in general and 5% if the royalties are for the use of, or the right to use industrial, commercial or scientific equipment. To avoid double taxation, both states provide for the exemption with progression method and the credit method to avoid double taxation. The protocol contains a most-favoured nation clause under which...