Guide to Global Payroll Management - 2020 - E-18

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In Trinidad & Tobago, the rate is 15% for copyrights of scientific work.

Amounts paid to certain pension funds that are not derived from the carrying on of a business, directly or indirectly, by the fund are exempt. This
includes dividends paid by a REIT only if the conditions in footnote mm are met. For Sweden, to be entitled to the exemption, the pension fund
must not sell or make a contract to sell the holding from which the dividend is derived within 2 months of the date the pension fund acquired the
holding. The United States has competent authority arrangements (MAP) with some treaty jurisdictions (e.g. Netherlands and Switzerland) that
describe which pension funds are eligible for the exemption. See the Competent Authority Arrangements page on irs.gov.

[reserved]

The rate in column 6 applies to dividends paid by a regulated investment company (RIC). Dividends paid by a real estate investment trust (REIT)
are subject to a 30% rate.

In Sri Lanka, the rate applies to dividends paid by a real estate investment trust (REIT) only if the beneficial owner of the dividends is (a) an
individual holding less than a 10% interest in the REIT, (b) a person holding not more than 5% of any class of the REIT's stock and the dividends
are paid on stock that is publicly traded, or (c) a person holding not more than a 10% interest in the REIT and the REIT is diversified.

The rate is 4.9% for interest derived from (1) loans granted by banks and insurance companies and (2) bonds or securities that are regularly and
substantially traded on a recognized securities market. The rate is 10% for interest not described in the preceding sentence and paid (i) by banks
or (ii) by the buyer of machinery and equipment to the seller due to a sale on credit. There is a full exemption if the beneficial owner is Mexico, a
political subdivision or local authority; is a trust, company, or other organization constituted and operated exclusively to administer or provide
benefits under one or more plans established to provide pension, retirement or other employee benefits and its income is generally exempt from
tax in Mexico, or if the interest arises in the United States and is paid in respect of a loan for a period of not less than three years made,
guaranteed, or insured, or a credit for such period extended, guaranteed, or insured by the Banco Nacional de Comercio Exterior, S.N.C. or the
Banco National Financiera, S.N.C.

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In Bangladesh, the rate is 5% for interest (a) beneficially owned by a bank or other financial institution (including an insurance company) or (b)
paid due to a sale on credit of any industrial, commercial, or scientific equipment, or of any merchandise to an enterprise. The rate is 0% for
interest that is (a) derived by the government of Bangladesh, or an instrumentality thereof, or (b) on a debt obligation guaranteed or insured by
Bangladesh or an instrumentality thereof.

Table 1. Tax Rates on Income Other Than Personal Service Income Under Chapter 3, Internal Revenue Code, and Income Tax Treaties

In Spain, the rate is 8% for copyrights of scientific work.

Footnotes to Table 1. Tax Rates on Income Other Than Personal Service Income Under Chapter 3, Internal Revenue Code, and
Income Tax Treaties

Guide to Global Payroll Management

Table 1. (Continued)

http://www.irs.gov

Guide to Global Payroll Management - 2020

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