Last reviewed 22 Mar 2023
The right to taxation in the event of sale of shares in real estate companies is subject to differing provisions. In accordance with the OECD Model Agreement, for those countries for which there is a “yes” in the real estate clause column, the right to taxation lies not with the country of residence of the vendor but with the country in which the property is situated.
| Country | Effective date | Real estate clause | Dividends* % | Interest % | Royalties % |
| Albania | 17.11.2005. | yes | 5/15 | 10 | 10 |
| Armenia | 03.11.2016. | yes | 8 | 8 | 8 |
| Austria | 17.12.2010. | yes | 5/15 | 10 | 5/10** |
| Azerbaijan | 01.12.2010. | yes | 10 | 10 | 10 |
| Belarus | 24.11.1998. | no | 5/15 | 8 | 10 |
| Belgium | 26.05.1983. | no | 10/15 | 15 | 10 |
| Bosnia and Herzegovina | 02.06.2005. | yes | 5/10 | 10 | 10 |
| Bulgaria | 10.01.2000. | yes | 5/15 | 10 | 10 |
| Canada | 31.10.2013. | yes | 5/15 | 10 | 10 |
| Country | Effective date | Real estate clause | Dividends* % | Interest % | Royalties % |
| China | 01.01.1998. | yes | 5 | 10 | 10 |
| Croatia | 22.04.2004. | yes | 5/10 | 10 | 10 |
| Cyprus | 30.01.1986. | no | 10 | 10 | 10 |
| Czech Republic | 27.06.2005. | no | 10 | 10 | 5/10** |
| Denmark | 24.12.2009. | yes | 5/15 | 10 | 10 |
| Egypt | 05.04.2006. | yes | 5/15 | 15 | 15 |
| Estonia | 14.06.2010. | yes | 5/10 | 10 | 5/10** |
| Finland | 18.12.1987. | yes | 5/15 | 0 | 10 |
| France | 01.08.1975. | yes | 5/15 | 0 | 0 |
| Country | Effective date | Real estate clause | Dividends* % | Interest % | Royalties % |
| FYROM (Macedonia) | 22.07.1997. | no | 5/15 | 10 | 10 |
| Georgia | 09.01.2013. | yes | 5/10 | 10 | 10 |
| Germany | 03.12.1988. | no | 15 | 0 | 10 |
| Greece | 08.06.2010. | no | 5/15 | 10 | 10 |
| Hong Kong | 30.12.2020. | yes | 5/10 | 10 | 5/10 |
| Hungary | 13.12.2002. | no | 5/15 | 10 | 10 |
| India | 23.09.2008. | yes | 5/15 | 10 | 10 |
| Indonesia | 03.12.2018. | yes | 15 | 10 | 15 |
| Ireland | 16.06.2010. | yes | 5/10 | 10 | 5/10** |
| Country | Effective date | Real estate clause | Dividends* % | Interest % | Royalties % |
| Iran | 16.12.2011. | yes | 10 | 10 | 10 |
| Israel | 25.10.2019. | yes | 5/15 | 10 | 5/10 |
| Italy | 03.07.1985. | no | 10 | 10 | 10 |
| Japan | 05.12.2021. | yes | 5/10 | 10 | 5/10** |
| Kazakhstan | 24.11.2016. | yes | 10/15 | 10 | 10 |
| Kuwait | 08.05.2013. | no | 5/10 | 10 | 10 |
| Latvia | 19.05.2006. | yes | 5/10 | 10 | 5/10** |
| Libya | 06.08.2010. | yes | 5/10 | 10 | 10 |
| Lithuania | 12.06.2009. | yes | 5/10 | 10 | 10 |
| Country | Effective date | Real estate clause | Dividends* % | Interest % | Royalties % |
| Luxembourg | 27.12.2016. | no | 5/10 | 10 | 5/10** |
| Malta | 16.06.2010. | yes | 5/10 | 10 | 5/10** |
| Marocco | 19.04.2022. | yes | 10 | 10 | 10 |
| Moldova | 23.05.2006. | no | 5/15 | 10 | 10 |
| Montenegro | 21.12.2011. | yes | 10 | 10 | 5/10** |
| Netherlands | 06.02.1983. | no | 5/15 | 0 | 10 |
| North Korea | 17.11.2016. | no | 10 | 10 | 10 |
| Norway | 18.12.2015. | yes | 5/15** | 10 | 5/10** |
| Pakistan | 21.10.2010. | yes | 10 | 10 | 10 |
| Poland | 17.06.1998. | yes | 5/15 | 10 | 10 |
| Country | Effective date | Real estate clause | Dividends* % | Interest % | Royalties % |
| Qatar | 09.12.2010. | no | 5/10 | 10 | 10 |
| Republic of Korea | 05.06.2001. | yes | 5/10 | 10 | 5/10** |
| Romania | 01.01.1998. | no | 10 | 10 | 10 |
| Russia | 09.07.1997. | yes | 5/15 | 10 | 10 |
| San Marino | 08.10.2018. | yes | 5/10 | 10 | 10 |
| Singapur | 16.08.2021. | yes | 5/10 | 10 | 5/10 |
| Slovakia | 15.10.2001. | yes | 5/15 | 10 | 10 |
| Slovenia | 31.12.2003. | yes | 5/10 | 10 | 5/10** |
| Spain | 28.03.2010. | yes | 5/10 | 10 | 5/10** |
| Country | Effective date | Real estate clause | Dividends* % | Interest % | Royalties % |
| Sri Lanka | 22.03.1986. | no | 12.5 | 10 | 10 |
| Sweden | 16.12.1981. | no | 5/15 | 0 | 0 |
| Switzerland | 05.05.2006. | yes | 5/15 | 10 | 0*** |
| Tunisia | 03.06.2013. | yes | 10 | 10 | 10 |
| Turkey | 10.08.2007. | no | 5/15 | 10 | 10 |
| UAE | 29.11.2001. | yes | 5/10 | 10 | 10 |
| Ukraine | 02.07.2013. | yes | 5/10 | 10 | 10 |
| United Kingdom | 16.09.1982. | no | 5/15 | 10 | 10 |
| Vietnam | 18.10.2013. | yes | 10/15 | 10 | 10 |
* If the recipient company holds at least 25 % (20 % in DTA with Switzerland) of the paying company, the lower of the two rates shown applies.
** For the use or the right of use of any copyrights of literary, artistic or scientific work, including cinematograph films, films and tapes for television and radio, tax shall not exceed 5 % of the gross amount of the royalties.
For the use or the right of use of any patent, trade mark, design or model, plan, secret formula or process, or for the use or the right of use of industrial, commercial or scientific equipment or for informati on concerning industrial, commercial or scientific experience, tax shall not exceed 10 % of the gross amount of the royalties.
*** Provided by the Protocol to the treaty between Serbia and Switzerland. Valid until Switzerland imposes withholding tax on royalties.
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