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Feb 17, 2021
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State Duma ratified tax agreement with Malta

The State Duma has ratified the protocol on amendments to the Russian-Maltese convention for the avoidance of double taxation, writes TASS.

The document was initiated by the Russian government.

A tax regime is provided for at the source of income in the form of dividends and interest at a rate of no more than 15 percent. At the same time, the protocol defines a list of exceptions, in accordance with which preferential treatment will be applied in relation to income in the form of dividends and interest.

Recall that in October, Russia and Malta amended the agreement on the avoidance of double taxation, increasing the tax on income in the form of dividends and interest to 15%. The corresponding protocol was signed by the Deputy Minister of Finance of the Russian Federation Alexei Sazanov and the Ambassador of Malta to Moscow Pierre Clive Ajus.

Prior to that, the Ministry of Finance reported that the revision of agreements on the avoidance of double taxation with Cyprus, Luxembourg and Malta should bring 130-150 billion rubles a year to the country’s budget.

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