LAWYERS. TAX CONSULTANTS.
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Russia and Malta have agreed to increase the tax to 15% for such source of income as dividends and interests.
The ratification of the Protocol amending the Double Tax Agreement shall be made before the end of this year, in order its provisions become applicable from January 1, 2021.
The Protocol provides for preferential treatment with a tax rate of 5% for institutional investments as well as for public companies in which at least 15% of shares are publicly traded and owing at least 15% of share capital of the company paying stated income during a year.
The amendments will not cover the interest income payable on Eurobonds, bonds of Russian companies, as well as loans provided by foreign banks.