Germany - United Kingdom Tax Treaty

Once in effect, the tax treaty signed 30 March 2010 between Germany and United Kingdom will replace the existing tax treaty dating from 1964 and provide for a 5% withholding tax on dividends paid to a company that holds at least 10% of the capital of the payer, 10% where the dividends are paid to a pension scheme and 15% in all other cases. Interest and royalties will be exempt.