On 19 August 2015, the Moroccan government approved for ratification the pending income tax treaty with Guinea-Bissau. The treaty, signed 28 May 2015, is the first of its kind between the two countries. Taxes Covered The treaty covers Moroccan income tax and corporation tax, and the following Guinea-Bissau taxes: Tax on professional income; Tax on industrial income; Tax on income from movable capital; Tax on urban real property; and Tax on rural real property Withholding Tax Rates Dividends - 5% if the beneficial owner is a company directly holding at least 25% of the paying company's capital; otherwise 10% Interest...