The treaty provides for a 15% rate. However, when the non-treaty rate is lower, that rate is applicable. Therefore, the rate is 10%.The 2010 treaty to replace the existing treaty between Norway and Turkey dating from 1971 entered into force 15 June 2011 and will apply as from 1 January 2012. When in effect, the treaty provides for a 5% withholding tax on dividends paid to a company (other than a partnership) that holds directly at least 20% of the capital of the payer company or where the dividends are paid to the Norwegian Pension Fund or Turkey’s Government Social Security Fund. The rate in all other cases will be 15%. The withholding tax rate on interest will be 5% where the interest is paid to certain credit institutions providing export credits or a government pension or social security fund; 10% if paid to a bank; and 15% in all other cases. The rate on royalties will be 10%