On 28 November 2016, officials from Austria and Israel signed a new income tax treaty. According to a release from the Israeli Ministry of Finance on the signing, the treaty provides the following withholding tax rates: Dividends - 0% if the beneficial owner is a company directly holding at least 10% of the paying company's capital; otherwise 10% Interest - 5% Royalties - 0% The treaty will enter into force after the ratification instruments are exchanged, and once in force and effective, it will replace the 1970 tax treaty between the two countries. Additional details will be published once available.