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Note: This Treaty may be impacted by the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (MLI). MLI impact on Tax Treaties is available with the Orbitax International Tax Research & Compliance Expert.

ARTICLE 16

Directors' Fees

(1) Directors' fees and other similar remuneration gained by a resident of a Contracting State as a member of the board of directors of a company situated in the other Contracting State shall be taxable only in the other Contracting state.

(2) Salaries, wages and other similar remunerations gained by a resident of a Contracting state as an official of a senior management (leadership positions) in a company resident in the other Contracting state shall be taxable only in the other Contracting state.