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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 IX

Dividends

(1) Dividends paid by a Company which is registered in one of the Contracting States may be taxed in that State.

(2) The term "dividends" shall be defined in accordance with the law of the Contracting State in which the company in question is registered.