Tax Treaty between Austria and Iceland Signed

According to a 30 June 2016 announcement from the Icelandic Ministry for Foreign Affairs, an income and capital tax treaty has been signed with Austria. The announcement includes that the withholding tax rates under the treaty are as follows:

• Dividends - 5% if the beneficial owner is a company directly holding at least 10% of the paying company's capital; otherwise 15%
• Interest - 0%
• Royalties 5%

The treaty is the first of its kind between the two countries and will enter into force after t…