At the time of signing of the Convention between the Government of the Republic of Slovenia and the Council of Ministers of Serbia and Montenegro for the avoidance of double taxation with respect to taxes on income and on capital the Government and the Council of Ministers have agreed on the following provision which shall form an integral part of the Convention:
In respect of paragraph 2 of Article 11 and subparagraph 2) of paragraph 2 of Article 12, it is understood that the Contracting States shall reconsider the tax rate on interest or royalties, if one or both of them reduce the tax rate on interest or royalties existing in domestic tax legislation at the time of signing of this Convention. If such a change will be introduced in a Contracting State, negotiations for a revision of paragraph 2 of Article 11 or subparagraph 2) of paragraph 2 of Article 12 shall take place.
IN WITNESS whereof the undersigned, being duly authorized thereto, have signed this Protocol.
DONE at Ljubljana this 11th day of June 2003 in two originals, in the Slovenian, Serbian and English languages, both originals being equally authentic. In case of any divergence between any of the texts and in the interpretation, the English text shall prevail.