The law on the ratification of the protocol with Malta is signed

On March 9, Vladimir Putin signed Federal Law No. 32-FZ on the ratification of the protocol amending the Russian-Maltese Convention on the avoidance of double taxation.

The protocol provides for increasing the tax up to 15% on dividends and interest. At the same time, the document defines a list of exceptions.

Application of preferential tax rate of no more than 5% will be allowed in institutional investments and for public companies that have at least 15% of their shares in free circulation and own at least 15% of the company’s capital paying the specified income during the year.