<h3>Tax Rates</h3><table><tr><th>Item</th><th>Article reference</th><th>Applicable Rates</th><th>Comments</th></tr><tr><td>Dividends</td><td>Article 10</td><td>5%</td><td>Exempt if beneficial owner is the Government of a Contracting State, an administrative:territorial unit, subdivision, local authority, or any wholly owned agency or instrumentality (including financial institutions).</td></tr><tr><td>Interest</td><td>Article 11</td><td>5%</td><td>Exempt if paid by/to the Government, administrative:territorial unit, subdivision, local authority, wholly owned agency/instrumentality, or for loans promoting exports or under intergovernmental agreements.</td></tr></table>
Convention Between the Government of the KINGDOM OF SAUDI ARABIA and the Government of ROMANIA for the Avoidance of Double Taxation and the Prevention of Tax Evasion with Respect to Taxes on Income
The Government of the Kingdom of Saudi Arabia and the Government of Romania,
Desiring to conclude a Convention for the avoidance of double taxation and the prevention of tax evasion with respect to taxes on income,
Have agreed as follows:
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