Russia terminates tax agreement with Malta

Russia has begun the procedure for terminating the existing double taxation agreement with Malta. The relevant information was published on the portal of draft regulatory legal acts.

The current rules provide for the possibility of reducing withholding taxes on payments from Russia to Malta on dividends, interest and royalties (royalties) up to 5%. Whereas after the termination of the agreement, the rate for dividends will increase to 15%, and for royalties, interest – up to 20%.