• Barbados - Iceland
    Tax Treaty Enters Into Force

    23-02-2012

    The Barbados - Iceland Income Tax Treaty has entered into force on 13 February 2012.

    The provisions of the tax treaty will become effective on 1 January 2013.

    In accordance with the treaty, the following withholding taxes will apply:

    • Dividends:
      • 5% 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.
      • 15% in all other cases.

    • Interest: 10% withholding tax on interest.

    • Royalties: 5% withholding tax on royalties.
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