Details of the income and capital tax treaty between Luxembourg and Monaco, signed on 27 June 2009, have become available. The treaty was concluded in the French language. The treaty generally follows the OECD Model Convention. The maximum rates of withholding tax are: -   15% on dividends, but 5% if the receiving company owns directly at least 10% of the capital of the company paying the dividends (Art. 10(2)); -   0% on interest; and -   0% on royalties. Deviations from the OECD Model include that: -   the provision on director fees applies also to members of...