Withholding Tax Rates 2011*

Jurisdiction
Afghanistan Albania Algeria Argentina Armenia Aruba Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus

International Tax
Royalties
20% 10% 24% 12.25%/21%/28%/31.5% 10% 0% 30% 20% 14% 0% 0% 10% 15% 15% Qualifying payments to EU companies may be exempt under EC Directives. Dividends subject to withholding tax only if they exceed accumulated taxable income with certain adjustments.

Dividends
20% 10% 15% 0%/35% 0/10% 10% 0%/30% 25% 10% 0% 0% 20% 15% 12%

Interest
20% 10% 10% 15.05%/35% 10% 0% 10% 0% 10% 0% 0% 10% 15% 10%

Notes

Withholding Tax Rates 2011*

Jurisdiction
Belgium Benin Bermuda Bhutan Bolivia Bosnia-Herzegovina Botswana Brazil British Virgin Islands Brunei Bulgaria Cambodia

International Tax
Royalties
15% 0.0% 0% 5% 25% 10% 15% 15%/25% 0% 10% 10% 14% Qualifying payments to EU companies may be exempt or withholding tax rate reduced under EC Directives. Rate on interest 25% if recipient domiciled in tax haven. 25% rate also applicable to certain royalties. Rate levied on 50% of payment, resulting in12.5% rate. Republika Srpska does not levy withholding tax on dividends.

Dividends
0%/15%/25% 10%/18% 0% 10% 25% 0%/5% 15% 0% 0% 0% 0%/5% 14%

Interest
15% 15% 0% 5% 25% 10% 15% 15%/25% 0% 15% 10% 14%

Notes
0% rate applies to dividends paid to resident in tax treaty country where recipient has held at least 10% of capital of payor continuously for at least one year. Qualifying payments to EU companies may be exempt under EC Directives. Royalties not addressed in tax code.

Withholding Tax Rates 2011*

Jurisdiction Dividends Interest Royalties Notes

International Tax

Cameroon

15%

15%

15%

10% surtax also imposed on dividends and interest, bringing effective rate to 16.5%. Royalties paid to entity outside CEMAC zone that participates in management or capital of Cameroon entity treated as distribution of profits (dividends). However when such amounts paid to firm outside CEMAC that participates in management of Cameroon firm in which it holds shares, royalties will be considered sums accruing from distribution of profits and subject to 16.5% withholding tax.

Canada Cayman Islands Chile China Colombia Congo (Dem. Rep.) Congo (Rep.) Costa Rica Croatia Cuba Curaao

25% 0% 35% 10% 0%/33% 20%

0%/25% 0% 4%/35% 10% 0%/33% 20%

0%/25% 0% 15%/30% 10% 33% 20%

15% 0%/20% 0% 0%

0%/15% 15%/20% 0% 35%

0%/25% 15%/20% 0% 0% Increased rate applies when payment made to entity in country with average tax rate of less than 12.5% (except for EU member states). Amounts paid to foreign party in JV company or economic association contract not subject to withholding tax. Withholding tax on interest applies based on EU Savings and Interest and Royalties Directives. A 20% rate applied on interest until July 2011, at which time it increased to 35%.

Withholding Tax Rates 2011*

Jurisdiction
Cyprus Czech Republic Democratic Republic of Congo Denmark Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Estonia Fiji Finland France

International Tax
Royalties
5%/10% 15% 20% 25% 15% 25% 25% 20% 20% 10% 10% 15% 28% 33.33% Qualifying payments to EU companies may be exempt under EC Directives. Dividends out of tax paid corporate profits (qualifying dividends) not subject to withholding tax. Nonqualifying dividends subject to withholding tax at rates ranging from 10% to 20%. Qualifying payments to EU companies may be exempt under EC Directives. Qualifying payments to EU companies may be exempt under EC Directives. Qualifying payments to EU companies may be exempt under EC Directives.

Dividends
0% 15% 20% 0%/15%/28% 15% 25% 0% 0% 0% 25% 0% 15% 28% 25%

Interest
0% 15% 20% 25% 15% 10%/25% 25% 20% 20% 10% 0%/21% 10% 0% 18%

Notes
Qualifying payments to EU companies may be exempt or withholding tax reduced under EC Directives. Qualifying payments to EU companies may be exempt or withholding tax reduced under EC Directives.

Withholding Tax Rates 2011*

Jurisdiction
Gabon Gambia Georgia Germany Ghana Gibraltar

International Tax
Royalties
10% 15% 20% 15%20% 10% 0% The rate on dividends will increase to 25% effective 1 January 2012. The exemption for withholding tax on dividends distributed to a nonresident company free from withholding tax because of the 40% tax on distributed profits at the level of distributing legal entity was repealed retroactively, along with the corporate income tax rate distinction between distributed and undistributed profits. Withholding tax on qualifying payments to EU companies may be reduced under EC Directives. No tax levied on dividends, interest and royalties qualifying under the EC Directives.

Dividends
10%/15%/20% 15% 5% 25% 8% 0%

Interest
10% 15% 5% 0% 8% 0%

Notes

Greece

21%

40%

25%

Guam Guatemala Guernsey Guyana Honduras Hong Kong SAR

30% 0%/10% 0% 20% 10% 0%

30% 10% 0% 20% 10% 0%

30% 31% 0% 20% 10% 4.95%

Withholding Tax Rates 2011*

Jurisdiction
Hungary Iceland India Indonesia Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya

International Tax
Royalties
0% 20% 10% 20% 0%/20% 0% 25% 22.5% 20% 33.33% 20% 20% 7% 15%/20% 20% 20% rate applies when payments made to resident in tax haven. Dividend rate in respect of companies listed on Nairobi stock exchange reduced to 5% for citizens of East African Community. Qualifying payments to EU companies may be exempt under EC Directives. Effective rate on royalties 20% because actual rate of 25% chargeable on only 80% of gross amount because of 20% allowance for deemed expenses. Qualifying payments to EU companies may be exempt under EC Directives.

Dividends
0% 0%/18% 0% 20% 0%/20% 0% 20%/25% 1.375%/27% 10%/12%/18% 33.33% 20% 0% 0% 15%/20% 0%/5%/10%

Interest
0% 18% 20% 20% 20% 0% 15%/20%/25% 12.5%/27% 6%-25% 33.33% 20% 20% 7% 15%/20% 15%

Notes

Withholding Tax Rates 2011*

Jurisdiction
Korea (ROK) Kuwait Kyrgyzstan Laos Latvia Lebanon Libya Liechtenstein Lithuania Luxembourg Macao SAR (FYROM) Macedonia Madagascar Madeira Malaysia

International Tax
Royalties
20% 0% 10% 5% 5%/15% 7.5% 20% 0% 10% 0% 0% 10% 10% 15% 10% As from 1 January 2011, 0% rate on dividends originating from new profits (old retained earnings still subject to coupon tax). 0% rate also applies to interest (no more coupon tax). Qualifying payments to EU companies may be exempt or withholding tax rate reduced under EC Directives. Qualifying payments to corporation subject to tax in treaty country may be exempt. Qualifying payments to EU companies may be exempt or withholding tax rate reduced under EC Directives.

Dividends
20% 0% 10% 5% 10% 10% 0% 0% 0%/15% 0%/15% 0% 10% 0% 20% 0%

Interest
20% 0% 10% 5% 5%/10% 5%/10% 5% 0% 0%/10% 0% 0% 10% 24% 20% 15%

Notes

Withholding Tax Rates 2011*

Jurisdiction
Malta Mauritius Mexico Moldova Mongolia Montenegro Morocco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Nigeria

International Tax
Royalties
0% 0%/15% 25%/30% 10% 20% 9% 10% 20% 20% 10.2% 15% 0% 25% 15% 21% 10% Qualifying payments to EU companies may be exempt under EC Directives.

Dividends
0% 0% 0% 15% 20% 9% 10% 20% 0% 10% 5% 0%/15% 13.25% 30% 10% 10%

Interest
0% 0% 4.9%/30%/40% 10% 20% 9% 10% 20% 15% 10% 15% 0% 8% 15% 22.5% 10%

Notes

Withholding Tax Rates 2011*

Jurisdiction
Norway Oman Pakistan Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Romania Russia Rwanda

International Tax
Royalties
0% 10% 15% 12.5% 10%/30% 15% 30% 30% 20% 15% 29% 5% 16% 20% 15% Withholding tax on interest and royalties introduced as from 1 January 2010. Qualifying payments to EU companies may be exempt or withholding tax rate reduced under EC Directives. Qualifying payments to EU companies may be exempt or withholding tax rate reduced under EC Directives. Qualifying payments to EU companies may be exempt or withholding tax rate reduced under EC Directives.

Dividends
0%/25% 0% 10% 5%/10% 17% 15% 4.1% 15%/30% 19% 21.5% 7%/10% 0% 16% 15% 15%

Interest
0% 0% 30% 12.5% 15% 15% 4.99%/30% 20% 20% 21.5% 29% 7% 16% 20% 15%

Notes
No tax withheld on dividends paid to corporate shareholders resident in EEA.

Withholding Tax Rates 2011*

Jurisdiction
Saudi Arabia Senegal Serbia Singapore Slovakia Slovenia South Africa Spain Sri Lanka St. Kitts & Nevis St. Lucia

International Tax
Royalties
15% 20% 20% 10% 19% 15% 12% 24% 15% 10% 25% Withholding tax on interest applies based on EU Savings and Interest and Royalties Directives. A 20% rate applied to interest until July 2011, at which time it increased to 35%. Qualifying payments to EU companies may be exempt or withholding tax rate reduced under EC Directives. Qualifying payments to EU companies may be exempt under EC Directives. Qualifying payments to EU companies may be exempt under EC Directives.

Dividends
5% 10% 20% 0% 0% 15% 0% 19% 10% 10% 25%

Interest
5% 16% 20% 15% 19% 15% 0% 19% 15% 0% 25%

Notes

St. Maarten

0%

35%

0%

Sudan Swaziland

0% 15%

7% 10%

15% 15%

Withholding Tax Rates 2011*

Jurisdiction
Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Trinidad & Tobago Tunisia Turkey Turkmenistan Uganda Ukraine United Arab Emirates United Kingdom

International Tax
Royalties
0% 0% 5% 20% 15% 15% 15% 15% 15% 20% 15% 15% 15% 0% 20% Qualifying payments to EU companies may be exempt under EC Directives.

Dividends
30% 0%/35% 0% 20% 12% 5%/10% 10% 10% 0% 15% 15% 15% 15% 0% 0%

Interest
0% 0% 7.5% 15%/20% 12% 10% 15% 15% 20%/5% 10% 15% 15% 15% 0% 20%

Notes
Qualifying payments to EU companies may be exempt or withholding tax rate reduced under EC Directives. Under Switzerland's agreement with EU, measures equivalent to the EC ParentSubsidiary Directive apply in qualifying cases.

Withholding Tax Rates 2011*

Jurisdiction
United States Uruguay Uzbekistan Vanuatu Venezuela Vietnam Wallis & Fortuna West Bank/Gaza Yemen Zambia Zimbabwe

International Tax
Royalties
30% 12% 20% 0% 34% 10% 0% 15% 10% 15% 15%

Dividends
30% 7% 10% 0% 0%-34% 0% 0% 0% 0% 15% 10%/15%

Interest
30% 3%/5%/12% 10% 0% 15%-34% 10% 0% 0% 0% 15% 15%

Notes

* Rates apply to payments to nonresidents and may be reduced under the provisions of an applicable tax treaty.