<h3>Tax Rates</h3><table><thead><tr><th>Item</th><th>Article reference</th><th>Applicable Rates</th><th>Comments</th></tr></thead><tbody><tr><td>Dividends</td><td>Article 10</td><td>0% (residence state only)</td><td>Beneficial owner. Protocol confirms Singapore's imputation system results in no tax on dividends at the corporate level.</td></tr><tr><td>Interest</td><td>Article 11</td><td>7%</td><td>Beneficial owner. 0% if beneficial owner is the Government of the other Contracting State (as defined in Article 11(4)).</td></tr></tbody></table>