On 19 May 2014, the Uruguayan Chamber of Senators approved for ratification the tax treaty with Vietnam. The treaty was signed on 9 December 2013, and includes the following withholding rates Dividends - 5% if the beneficial owner is a company that holds at least 70% of the paying company's capital, otherwise 10% Interest - 10% Royalties - 10% The treaty will enter into force after the ratification instruments are exchanged and will apply from 1 January of the year following its entry into force.