Notice of the State Administration of Taxation on the Interpretation of Article 11, Paragraph 3, Item (4) of the China-Kuwait Double Taxation Avoidance Agreement

This notice clarifies the scope of application of Article 11, Paragraph 3, Item (4) of the China-Kuwait Double Taxation Avoidance Agreement, specifying that the provision applies to banks in which the government of either contracting state holds at least 20% of shares, as confirmed by exchange of letters between tax authorities.