NewsWorldMalta and Russia agree to amend their taxation treaty

Malta and Russia agree to amend their taxation treaty

Russia and Malta have agreed to amend their taxation treaty, Russia’s finance ministry said on Friday, raising the withholding tax rate for interest and dividend payments to 15%.

There will be exceptions for a limited list of institutional investments, according to Reuters.

Keen to combat capital outflows, Russia has been negotiating its tax treaties with several countries, including the Netherlands and Cyprus, with whom it reached an agreement last week.

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