the Finance Ministry has proposed to the ministries of Finance Cyprus, Luxembourg, Malta and the Netherlands to raise tax rates on income, dividends and interest transferred from Russia to 15%. This requires to revise the double tax Treaty with these countries. In March, President Vladimir Putin said that all payments of income, interest and dividends, stretching from Russia in an offshore jurisdiction, should be taxed at a rate of not less than 15% (as charged to natural persons-non-residents in Russia).
In June, the Ministry of Finance has launched the preparation of the release of a double tax Treaty with Malta, but now there is no need of denunciation of the agreement with Malta, has told carps. Negotiations with Cyprus in June-July at an impasse, and on August 3, the Ministry of Finance began preparing for the exit of a double tax Treaty with that country in 2021, however, according to Sazanova, 10 and 11 August, the parties will again discuss the agreement change, this time at a meeting in Moscow. About the negotiations with Luxembourg are not reported, the proposal to amend the double tax Treaty the Netherlands was sent just this week.