The amending protocol to the 2003 income tax treaty between Austria and the United Arab Emirates was signed on 1 July 2021. The protocol is the first to amend the treaty and includes the following changes:
- The preamble is updated in line with BEPS standards;
- Article 4 (Resident) is updated with respect to the definition of the term "resident of a Contracting State" for Austria;
- Paragraph 1 of Article 10 (Dividends) is replaced, providing for a withholding tax rate of 10%, with an exemption f…