Details of the first-time income tax treaty and protocol between the Philippines and the United Arab Emirates, signed on 21 September 2003, have become available. The treaty was concluded in the English and Arabic languages, each text having equal authenticity. In the case of divergence, however, the English text prevails. The treaty generally follows the UN Model Convention. The maximum rates of withholding tax are: -   15% on dividends in general and 10% if the beneficial owner is a company (other than a partnership) which holds directly at least 10% of the capital of the company paying the dividends;...